Morgan County, Alabama: commercial real estate data.
Morgan County, Alabama had an estimated 126,084 residents on July 1, 2024, up 2.1 percent since the 2020 census base of 123,452, across 579 square miles. 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 since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Morgan County
How many people live in Morgan County
- Population, American Community Survey 2020-2024124,471
- 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-equivalents, Puerto Rico included524th of 3,222
Morgan County is the 9th largest of 67 Alabama counties by population. A median home costs 3.1 times median household income, which is moderately unaffordable 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's population growing?
- Population, July 1, 2024126,084
- Census 2020 base population123,452
- Population change since the 2020 census base2.13 percent
- Population change, 2023 to 2024629
- 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 of 3,144
The county has grown 2.13 percent since the 2020 census base. Deaths exceeded births in 2024 and the population still grew, so all of the growth came from people moving in. A market held up by migration 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 are people moving to Morgan County from?
- Tax returns filed by households arriving2,833
- People arriving, from those returns5,558
- Tax returns filed by households leaving2,490
- Net household movement343
- Adjusted gross income arriving$158.6 m
- Net adjusted gross income movement$23.2 m
- Average income of an arriving household$55,972
- Average income of a leaving household$54,363
- Largest single originMadison County (574 households)
- Largest single destinationMadison County (480 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Madison County | 574 | 1,091 | $33.1 m |
| Lawrence County | 248 | 477 | $11.0 m |
| Limestone County | 228 | 449 | $13.8 m |
| Cullman County | 205 | 440 | $9.5 m |
| Marshall County | 94 | 190 | $4.5 m |
| Jefferson County | 70 | 127 | $4.3 m |
| Lauderdale County | 63 | 93 | $2.6 m |
| Shelby County | 33 | 55 | $1.9 m |
Households arriving report $1,609 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Madison County, 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 is the Morgan County economy?
- 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 the Alabama areas BEA publishes9th of 67
- Rank by GDP among the US county areas BEA publishes508th of 3,127
- 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
Employment by industry in Morgan County
- Covered employment, annual average52,617
- Establishments reporting3,362
- Average annual pay$59,944
- Average weekly wage$1,153
- Manufacturing, employment13,573
- Manufacturing, average annual pay$84,199
- Retail trade, employment5,620
- Retail trade, average annual pay$36,771
- Health care and social assistance, employment4,428
- Health care and social assistance, average annual pay$47,104
- Accommodation and food services, employment4,406
- Accommodation and food services, average annual pay$21,081
- Construction, employment3,790
- Administrative and support and waste management services, employment3,314
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 13,573 | 216 | $84,199 |
| Retail trade | 5,620 | 482 | $36,771 |
| Health care and social assistance | 4,428 | 531 | $47,104 |
| Accommodation and food services | 4,406 | 253 | $21,081 |
| Construction | 3,790 | 335 | $73,671 |
| Administrative and support and waste management services | 3,314 | 174 | $33,549 |
| Wholesale trade | 2,162 | 185 | $68,802 |
| Professional, scientific and technical services | 1,646 | 286 | $76,652 |
Manufacturing is the largest private sector at 13,573 jobs, 25.8 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Morgan County
How many businesses are 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. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Morgan County
Building permits in Morgan County
- Housing units authorized by permit, 2024229
- Declared construction value permitted$50.2 m
- Single family units authorized229
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$219,269
- Units authorized per 1,000 households4.7
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Morgan County
SBA loans in Morgan County (7(a) and 504)
- 7(a) approvals recorded48
- 7(a) gross approval dollars$32.7 m
- Average 7(a) approval$681,917
- Median 7(a) approval$341,000
- 10th percentile approval$22,000
- 90th percentile approval$1,957,300
- 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)
- 504 approvals recorded28
- 504 gross approval dollars$22.3 m
- Average 504 approval$797,107
- Median 504 approval$566,500
- Distinct CDCs active4
- 504 jobs per approval10.8
- 504 jobs per million dollars approved13.5
- Most active CDCSouthern Development Council (14)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$55.1 m
The average approval of $681,917 sits well above the median of $341,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here 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
SBA loan default and charge-off rates in 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
Only 6 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Morgan County
SBA lending by place in Morgan County
- Borrower cities with recorded lending8
- Decatur, approvals33
- Hartselle, approvals8
- Somerville, approvals2
- Arab, approvals1
- Danville, approvals1
- Laceys Spring, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Decatur | 33 | $24,796,100 |
| Hartselle | 8 | $3,968,700 |
| Somerville | 2 | $109,900 |
| Arab | 1 | $2,695,000 |
| Danville | 1 | $724,000 |
| Laceys Spring | 1 | $350,000 |
| Falkville | 1 | $61,300 |
| 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 large 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.
Morgan County
Flood risk in Morgan County
- Participation of the county's own NFIP community Morgan County, unincorporated areasParticipating, community 010175
- Communities in the county in the NFIP Community Status Book8
- Of those, participating in the NFIP8
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 7
- Communities carrying a CRS class2
- Radon levels in Morgan County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, unincorporated Morgan County (community 010175), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Morgan County in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 7, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
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.
- Population, American Community Survey 2020-2024124,471
- 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?
The Census Bureau estimates 126,084 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 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's population growing?
The population has grown 2.13 percent since the 2020 census base of 123,452, to 126,084 on July 1, 2024. 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 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 employment by industry in Morgan County?
Manufacturing is the largest private sector at 13,573 jobs, 25.8 percent of covered employment. Covered employment averages 52,617 jobs at an average annual pay of $59,944, or $1,153 a week. 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 totaling $32.7 m since FY2020, across 24 lenders, with a median approval of $341,000, plus 28 504 approvals worth $22.3 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Morgan County?
229 housing units were authorized 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 Madison County, with 574 households. Arriving households report an average income of $55,972 against $54,363 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?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Morgan County
Cities and places in Morgan.
7 Census places lie wholly or partly in Morgan County. All 7 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Decatur | city | 57,361 | 33 | 91.4 percent here, 8.6 percent Limestone County |
| Hartselle | city | 15,847 | 8 | Wholly in this county |
| Priceville | city | 3,726 | None recorded | Wholly in this county |
| Trinity | city | 2,561 | None recorded | Wholly in this county |
| Falkville | town | 1,606 | 1 | Wholly in this county |
| Somerville | town | 921 | 2 | Wholly in this county |
| Eva | town | 845 | None recorded | Wholly in this county |
A further 4 of the county's 48 SBA 7(a) approvals are to borrowers in cities that match no Census place in Morgan County, the largest being Arab (1), Danville (1), Laceys Spring (1). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.
Nearby