Morgan County, Alabama: commercial real estate data.
Morgan County, Alabama has a population of 124,471 across 579 square miles, up 2.1 percent since the 2020 census base. County output reached $8.39 bn in 2024, 2,684 establishments operate here, and the SBA record carries 48 7(a) approvals worth $32.7 m.
121 sourced county values · tier FULL · 11 sections
Morgan County
How many people live in Morgan County
- Population124,471
- Households49,040
- Average household size2.54
- Median household income$68,845
- Median age40.0
- Median gross rent$864 per month
- Median owner-occupied home value$212,000
- Home value to household income3.1 times
- Annual rent as a share of median income15.1 percent
- Adults 25 and over with a bachelor degree or higher23.3 percent
- Adults 25 and over with a graduate degree8.1 percent
- Adults 25 and over85,362
- Population under 1829,106
- Share under 1823.4 percent
- Population 65 and over22,372
- Share 65 and over18.0 percent
- Working age population, 18 to 6472,993
- Civilian labor force57,101
- Unemployment rate3.7 percent
- Labor force participation, adults 18 and over59.9 percent
- Rank by population among Alabama counties9th of 67
- Rank by population among US county-equivalents524th
Morgan County is the 9th largest of 67 Alabama counties by population. A median home costs 3.1 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 23.4 percent against 18.0 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Morgan County
Is Morgan County growing
- Population change since the 2020 census base2.13 percent
- Census 2020 base population123,452
- Births, 20241,482
- Deaths, 20241,545
- Natural change, 2024-63
- Net domestic migration, 2024105
- Net international migration, 2024586
- Total net migration, 2024691
- Cumulative net domestic migration, 2021 to 20242,177
- Rank by growth among US county-equivalents1129th
The county has grown 2.13 percent since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Morgan County
Where people moving to Morgan County come from
- Tax returns filed by households arriving2,833
- People arriving, from those returns5,558
- Adjusted gross income arriving$158.6 m
- Net adjusted gross income movement$0
- Average income of an arriving household$55,972
- Largest single originMorgan County Non-migrants (42,247 households)
- Largest single destination (42,247 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Morgan County Non-migrants | 42,247 | 88,827 | $3.30 bn |
| Other flows - Different State | 1,016 | 2,062 | $62.5 m |
| Other flows - South | 612 | 1,223 | $36.8 m |
| Madison County | 574 | 1,091 | $33.1 m |
| Lawrence County | 248 | 477 | $11.0 m |
| Limestone County | 228 | 449 | $13.8 m |
| Other flows - Same State | 207 | 410 | $10.4 m |
| Cullman County | 205 | 440 | $9.5 m |
The largest single source of arrivals is Morgan County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Morgan County
What the Morgan County economy runs on
- County GDP, 2024$8.39 bn
- County GDP, 2023$8.00 bn
- GDP change, 2023 to 20244.9 percent
- GDP change over five years38.1 percent
- Rank by GDP among Alabama counties9th
- Rank by GDP among US county-equivalents508th
- GDP per resident$67,396
Output grew 4.9 percent in the latest year and 38.1 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Morgan County
Who employs people in Morgan County
- Covered employment, annual average52,617
- Establishments reporting3,362
- Average annual pay$59,944
- Average weekly wage$1,153
- Sector 31-33, employment13,573
- Sector 31-33, average annual pay$84,199
- Sector 44-45, employment5,620
- Sector 44-45, average annual pay$36,771
- Sector 62, employment4,428
- Sector 62, average annual pay$47,104
- Sector 72, employment4,406
- Sector 72, average annual pay$21,081
- Sector 23, employment3,790
- Sector 56, employment3,314
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 13,573 | 216 | $84,199 |
| Sector 44-45 | 5,620 | 482 | $36,771 |
| Sector 62 | 4,428 | 531 | $47,104 |
| Sector 72 | 4,406 | 253 | $21,081 |
| Sector 23 | 3,790 | 335 | $73,671 |
| Sector 56 | 3,314 | 174 | $33,549 |
| Sector 42 | 2,162 | 185 | $68,802 |
| Sector 54 | 1,646 | 286 | $76,652 |
The largest sector is the biggest private employer group at 13,573 jobs, 25.8 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Morgan County
What businesses operate in Morgan County
- Establishments, all industries2,684
- Employment at those establishments47,947
- Annual payroll$2.77 bn
- Establishments per 1,000 residents21.6
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Morgan County
What is being built in Morgan County
- Housing units authorised by permit, 2024229
- Declared construction value permitted$50.2 m
- Single family units authorised229
- Multifamily units authorised0
- Multifamily share of units0.0 percent
- Average declared value per unit$219,269
- Units authorised per 1,000 households4.7
Multifamily is 0.0 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Morgan County
How much SBA lending happens in Morgan County
- 7(a) approvals recorded48
- 7(a) gross approval dollars$32.7 m
- Average 7(a) approval$681,917
- Median 7(a) approval$350,000
- 10th percentile approval$15,000
- 90th percentile approval$2,000,000
- Largest single approval$4,113,000
- Jobs reported supported, 7(a)624
- Jobs per approval13.0
- Distinct 7(a) lenders active24
- Distinct industries receiving approvals34
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer16.7 percent
- Loans on real estate terms8
- Loans on working capital terms, 120 months or shorter33
- Franchise loans9
- Franchise share of approvals18.8 percent
- Leading industry by approval countInsurance Agencies and Brokerages (6)
- Most active lenderThe Huntington National Bank (6)
- 504 approvals recorded28
- 504 gross approval dollars$22.3 m
- Average 504 approval$797,107
- Median 504 approval$574,000
- Distinct CDCs active4
- 504 jobs per approval10.8
- 504 jobs per million dollars approved13.5
- Most active CDCSouthern Development Council (14)
- 7(a) share of SBA approvals63.2 percent
- Combined SBA approval dollars$55.1 m
The average approval of $681,917 sits well above the median of $350,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 16.7 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Morgan County
Do SBA loans in Morgan County get paid back
- Loans with a final outcome recorded6
- Paid in full6
- Charged off0
- Status: Exempt from disclosure32
- Status: Paid in full6
- Status: Cancelled7
- Status: Committed, not yet disbursed3
Too few loans have reached a final outcome to publish a charge off rate. only 6 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Morgan County
Which parts of Morgan County get the lending
- Places in the county with recorded lending8
- DECATUR, approvals33
- HARTSELLE, approvals8
- SOMERVILLE, approvals2
- ARAB, approvals1
- FALKVILLE, approvals1
- DANVILLE, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| DECATUR | 33 | $24,796,100 |
| HARTSELLE | 8 | $3,968,700 |
| SOMERVILLE | 2 | $109,900 |
| ARAB | 1 | $2,695,000 |
| FALKVILLE | 1 | $61,300 |
| DANVILLE | 1 | $724,000 |
| Laceys Spring | 1 | $350,000 |
| JOPPA | 1 | $27,000 |
DECATUR accounts for 33 approvals against 8 in HARTSELLE. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Morgan County
How big is Morgan County
- Land area579 sq mi
- Rank by land area among Alabama counties59th of 67
- Width, east to west31.9 mi
- Height, north to south26.3 mi
- Geographies sharing a boundary5
- Residents per square mile of land215
- Establishments per square mile4.64
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Morgan County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Morgan County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population124,471
- Households49,040
- Average household size2.54
- Median household income$68,845
- Median age40.0
Common questions
Morgan County questions, answered from the record.
How many people live in Morgan County, Alabama?
124,471, in 49,040 households, ranking 9th of 67 Alabama counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Morgan County growing?
The population has grown 2.13 percent since the 2020 census base. In 2024 there were 1,482 births against 1,545 deaths, with net migration of 691. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Morgan County?
$68,845. The median owner-occupied home is valued at $212,000, which is 3.1 times income, and median gross rent is $864 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Morgan County?
2,684 establishments, employing 47,947 people with an annual payroll of $2.77 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Morgan County?
Average annual pay is $59,944, or $1,153 a week, across 52,617 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Morgan County?
48 7(a) approvals totalling $32.7 m since FY2020, across 24 lenders, with a median approval of $350,000, plus 28 504 approvals worth $22.3 m. These are approvals recorded in the release, not loans disbursed.
What is being built in Morgan County?
229 housing units were authorised by permit in 2024, with a declared construction value of $50.2 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Morgan County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Morgan County come from?
The largest single origin is Morgan County Non-migrants, with 42,247 households. Arriving households report an average income of $55,972 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Morgan County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Morgan County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.