Morgan County, Tennessee: commercial real estate data.
Morgan County, Tennessee has a population of 21,361 across 522 square miles, up 4.4 percent since the 2020 census base. County output reached $461.2 m in 2024, 163 establishments operate here, and the SBA record carries 5 7(a) approvals worth $2.4 m.
104 sourced county values · tier FULL · 11 sections
Morgan County
How many people live in Morgan County
- Population21,361
- Households7,188
- Average household size2.97
- Median household income$65,954
- Median age42.3
- Median gross rent$770 per month
- Median owner-occupied home value$166,300
- Home value to household income2.5 times
- Annual rent as a share of median income14.0 percent
- Adults 25 and over with a bachelor degree or higher13.6 percent
- Adults 25 and over with a graduate degree5.1 percent
- Adults 25 and over15,701
- Population under 184,031
- Share under 1818.9 percent
- Population 65 and over4,018
- Share 65 and over18.8 percent
- Working age population, 18 to 6413,312
- Civilian labor force8,280
- Unemployment rate5.1 percent
- Labor force participation, adults 18 and over47.8 percent
- Rank by population among Tennessee counties64th of 95
- Rank by population among US county-equivalents1801st
Morgan County is the 64th largest of 95 Tennessee counties by population. A median home costs 2.5 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 18.9 percent against 18.8 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 base4.36 percent
- Census 2020 base population21,036
- Births, 2024164
- Deaths, 2024335
- Natural change, 2024-171
- Net domestic migration, 2024623
- Net international migration, 20241
- Total net migration, 2024624
- Cumulative net domestic migration, 2021 to 20241,519
- Rank by growth among US county-equivalents633rd
The county has grown 4.36 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 arriving605
- People arriving, from those returns1,262
- Adjusted gross income arriving$32.0 m
- Net adjusted gross income movement$0
- Average income of an arriving household$52,894
- Largest single originMorgan County Non-migrants (6,517 households)
- Largest single destination (6,517 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Morgan County Non-migrants | 6,517 | 14,124 | $374.0 m |
| Other flows - Different State | 212 | 459 | $14.6 m |
| Other flows - Same State | 135 | 239 | $4.8 m |
| Other flows - South | 113 | 243 | $8.5 m |
| Roane County | 103 | 246 | $5.2 m |
| Anderson County | 69 | 151 | $3.6 m |
| Knox County | 66 | 121 | $3.0 m |
| Other flows - West | 58 | 131 | $4.0 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$461.2 m
- County GDP, 2023$430.8 m
- GDP change, 2023 to 20247.0 percent
- GDP change over five years43.2 percent
- Rank by GDP among Tennessee counties81st
- Rank by GDP among US county-equivalents2457th
- GDP per resident$21,589
Output grew 7.0 percent in the latest year and 43.2 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 average3,618
- Establishments reporting245
- Average annual pay$44,908
- Average weekly wage$864
- Sector 62, employment702
- Sector 62, average annual pay$32,104
- Sector 31-33, employment273
- Sector 31-33, average annual pay$55,876
- Sector 44-45, employment218
- Sector 44-45, average annual pay$24,857
- Sector 56, employment192
- Sector 56, average annual pay$44,373
- Sector 72, employment156
- Sector 81, employment40
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 702 | 36 | $32,104 |
| Sector 31-33 | 273 | 17 | $55,876 |
| Sector 44-45 | 218 | 35 | $24,857 |
| Sector 56 | 192 | 7 | $44,373 |
| Sector 72 | 156 | 14 | $26,470 |
| Sector 81 | 40 | 14 | $47,475 |
| Sector 52 | 31 | 10 | $47,821 |
| Sector 71 | 27 | 3 | $19,970 |
The largest sector is the biggest private employer group at 702 jobs, 19.4 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 industries163
- Employment at those establishments1,591
- Annual payroll$65.1 m
- Establishments per 1,000 residents7.6
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, 20240
- Declared construction value permitted$0
- Single family units authorised0
- Multifamily units authorised0
No residential units were authorised by permit in 2024. In a small county this is common and is not by itself a sign of distress, but it does mean there is no recent residential pipeline to read demand from.
US Census Bureau, Building Permits Survey, 2024 annual.
Morgan County
How much SBA lending happens in Morgan County
- 7(a) approvals recorded5
- 7(a) gross approval dollars$2.4 m
- Average 7(a) approval$489,560
- Median 7(a) approval$300,000
- 10th percentile approval$50,000
- 90th percentile approval$1,415,000
- Largest single approval$1,415,000
- Jobs reported supported, 7(a)31
- Jobs per approval6.2
- Distinct 7(a) lenders active3
- Distinct industries receiving approvals3
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer20.0 percent
- Loans on real estate terms1
- Loans on working capital terms, 120 months or shorter3
- Franchise loans0
- Franchise share of approvals0.0 percent
- Leading industry by approval countPrefabricated Metal Building and Component Manufacturing (2)
- Most active lenderCommunity Trust Bank, Inc. (2)
The average approval of $489,560 sits well above the median of $300,000, 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 20.0 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.
Morgan County
Do SBA loans in Morgan County get paid back
- Loans with a final outcome recorded2
- Paid in full2
- Charged off0
- Status: Paid in full2
- Status: Exempt from disclosure1
- Status: Cancelled2
Too few loans have reached a final outcome to publish a charge off rate. only 2 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 lending3
- DEER LODGE, approvals2
- OAKDALE, approvals2
- PETROS, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| DEER LODGE | 2 | $582,800 |
| OAKDALE | 2 | $450,000 |
| PETROS | 1 | $1,415,000 |
DEER LODGE accounts for 2 approvals against 2 in OAKDALE. 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 area522 sq mi
- Rank by land area among Tennessee counties33rd of 95
- Width, east to west31.6 mi
- Height, north to south31.9 mi
- Geographies sharing a boundary5
- Residents per square mile of land41
- Establishments per square mile0.31
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 504 approvals recorded in this county in the FOIA release covering FY2010 onward.
- 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.
- Population21,361
- Households7,188
- Average household size2.97
- Median household income$65,954
- Median age42.3
Common questions
Morgan County questions, answered from the record.
How many people live in Morgan County, Tennessee?
21,361, in 7,188 households, ranking 64th of 95 Tennessee counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Morgan County growing?
The population has grown 4.36 percent since the 2020 census base. In 2024 there were 164 births against 335 deaths, with net migration of 624. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Morgan County?
$65,954. The median owner-occupied home is valued at $166,300, which is 2.5 times income, and median gross rent is $770 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Morgan County?
163 establishments, employing 1,591 people with an annual payroll of $65.1 m. 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 $44,908, or $864 a week, across 3,618 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?
5 7(a) approvals totalling $2.4 m since FY2020, across 3 lenders, with a median approval of $300,000. These are approvals recorded in the release, not loans disbursed.
What is being built in Morgan County?
No residential units were authorised by permit in 2024. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Morgan County?
Zone 3, a predicted average indoor radon screening level less than 2 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 6,517 households. Arriving households report an average income of $52,894 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.