Morgan County, Georgia: commercial real estate data.
Morgan County, Georgia had an estimated 21,940 residents on July 1, 2024, up 9.2 percent since the 2020 census base of 20,100, across 347 square miles. County output reached $1.52 bn in 2024, 573 establishments operate here, and the SBA record carries 19 7(a) approvals worth $20.9 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 2020-202421,078
- Households8,120
- Average household size2.60
- Median household income$78,111
- Median age42.4
- Median gross rent$1,108 per month
- Median owner-occupied home value$342,300
- Home value to household income4.4 times
- Annual rent as a share of median income17.0 percent
- Adults 25 and over with a bachelor degree or higher29.7 percent
- Adults 25 and over with a graduate degree11.6 percent
- Adults 25 and over14,960
- Population under 184,661
- Share under 1822.1 percent
- Population 65 and over4,322
- Share 65 and over20.5 percent
- Working age population, 18 to 6412,095
- Civilian labor force10,170
- Unemployment rate2.4 percent
- Labor force participation, adults 18 and over61.9 percent
- Rank by population among Georgia counties84th of 159
- Rank by population among US county-equivalents, Puerto Rico included1816th of 3,222
Morgan County is the 84th largest of 159 Georgia counties by population. A median home costs 4.4 times median household income, which is seriously unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 22.1 percent against 20.5 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, 202421,940
- Census 2020 base population20,100
- Population change since the 2020 census base9.15 percent
- Population change, 2023 to 2024403
- Births, 2024228
- Deaths, 2024242
- Natural change, 2024-14
- Net domestic migration, 2024393
- Net international migration, 202426
- Total net migration, 2024419
- Cumulative net domestic migration, 2021 to 20241,839
- Rank by growth among US county-equivalents177th of 3,144
The county has grown 9.15 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 arriving764
- People arriving, from those returns1,522
- Tax returns filed by households leaving552
- Net household movement212
- Adjusted gross income arriving$72.0 m
- Net adjusted gross income movement$34.8 m
- Average income of an arriving household$94,304
- Average income of a leaving household$67,402
- Largest single originNewton County (89 households)
- Largest single destinationWalton County (59 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Newton County | 89 | 195 | $7.5 m |
| Walton County | 85 | 204 | $8.0 m |
| Gwinnett County | 55 | 110 | $5.8 m |
| Clarke County | 41 | 79 | $2.7 m |
| Rockdale County | 39 | 74 | $5.7 m |
| Oconee County | 32 | 69 | $2.6 m |
| Putnam County | 31 | 60 | $2.2 m |
| Greene County | 30 | 66 | $1.6 m |
Households arriving report $26,902 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 Newton 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$1.52 bn
- County GDP, 2023$1.38 bn
- GDP change, 2023 to 20249.6 percent
- GDP change over five years54.3 percent
- Rank by GDP among the Georgia areas BEA publishes61st of 159
- Rank by GDP among the US county areas BEA publishes1508th of 3,127
- GDP per resident$72,009
Output grew 9.6 percent in the latest year and 54.3 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 average8,799
- Establishments reporting693
- Average annual pay$51,852
- Average weekly wage$997
- Manufacturing, employment1,617
- Manufacturing, average annual pay$65,425
- Accommodation and food services, employment1,271
- Accommodation and food services, average annual pay$24,518
- Retail trade, employment1,192
- Retail trade, average annual pay$28,702
- Wholesale trade, employment1,015
- Wholesale trade, average annual pay$87,593
- Construction, employment445
- Other services, except public administration, employment282
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 1,617 | 24 | $65,425 |
| Accommodation and food services | 1,271 | 68 | $24,518 |
| Retail trade | 1,192 | 77 | $28,702 |
| Wholesale trade | 1,015 | 26 | $87,593 |
| Construction | 445 | 88 | $72,420 |
| Other services, except public administration | 282 | 48 | $33,736 |
| Finance and insurance | 242 | 38 | $78,665 |
| Administrative and support and waste management services | 189 | 44 | $40,497 |
Manufacturing is the largest private sector at 1,617 jobs, 18.4 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 industries573
- Employment at those establishments6,763
- Annual payroll$305.9 m
- Establishments per 1,000 residents27.2
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, 2024164
- Declared construction value permitted$69.0 m
- Single family units authorized164
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$420,811
- Units authorized per 1,000 households20.2
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 recorded19
- 7(a) gross approval dollars$20.9 m
- Average 7(a) approval$1,097,605
- Median 7(a) approval$384,000
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)206
- Jobs per approval10.8
- Distinct 7(a) lenders active16
- Distinct industries receiving approvals18
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer31.6 percent
- Loans on real estate terms6
- Loans on working capital terms, 120 months or shorter12
- Franchise loans5
- Franchise share of approvals26.3 percent
- 504 approvals recorded8
- 504 gross approval dollars$4.1 m
- Average 504 approval$512,250
- Median 504 approval$453,500
- Distinct CDCs active3
- 504 jobs per approval7.9
- 504 jobs per million dollars approved15.4
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$25.0 m
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 recorded4
- Paid in full4
- Charged off0
- Status: Exempt from disclosure14
- Status: Paid in full4
- Status: Cancelled1
Only 4 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 lending4
- Madison, approvals15
- Rutledge, approvals2
- Buckhead, approvals1
- Bishop, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Madison | 15 | $18,722,500 |
| Rutledge | 2 | $1,678,000 |
| Buckhead | 1 | $254,000 |
| Bishop | 1 | $200,000 |
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 area347 sq mi
- Rank by land area among Georgia counties77th of 159
- Width, east to west24.1 mi
- Height, north to south26.5 mi
- Geographies sharing a boundary6
- Residents per square mile of land61
- Establishments per square mile1.65
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 130559
- Communities in the county in the NFIP Community Status Book5
- Of those, participating in the NFIP4
- NFIP participation rate80.0 percent
- Communities carrying a CRS class0
- Radon levels in Morgan County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, unincorporated Morgan County (community 130559), 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 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 80.0 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 2020-202421,078
- Households8,120
- Average household size2.60
- Median household income$78,111
- Median age42.4
Common questions
Morgan County questions, answered from the record.
How many people live in Morgan County, Georgia?
The Census Bureau estimates 21,940 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 21,078, in 8,120 households, ranking 84th of 159 Georgia 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 9.15 percent since the 2020 census base of 20,100, to 21,940 on July 1, 2024. In 2024 there were 228 births against 242 deaths, with net migration of 419. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Morgan County?
$78,111. The median owner-occupied home is valued at $342,300, which is 4.4 times income, and median gross rent is $1,108 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Morgan County?
573 establishments, employing 6,763 people with an annual payroll of $305.9 m. 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 1,617 jobs, 18.4 percent of covered employment. Covered employment averages 8,799 jobs at an average annual pay of $51,852, or $997 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?
19 7(a) approvals totaling $20.9 m since FY2020, across 16 lenders, with a median approval of $384,000, plus 8 504 approvals worth $4.1 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Morgan County?
164 housing units were authorized by permit in 2024, with a declared construction value of $69.0 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 2, a predicted average indoor radon screening level from 2 to 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 Newton County, with 89 households. Arriving households report an average income of $94,304 against $67,402 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.
5 Census places lie wholly or partly in Morgan County. All 5 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 |
|---|---|---|---|---|
| Madison | city | 4,864 | 15 | Wholly in this county |
| Rutledge | city | 1,271 | 2 | Wholly in this county |
| Buckhead | town | 331 | 1 | Wholly in this county |
| Bostwick | city | 269 | None recorded | Wholly in this county |
| Godfrey | CDP | 27 | None recorded | Wholly in this county |
A further 1 of the county's 19 SBA 7(a) approvals are to borrowers in cities that match no Census place in Morgan County, the largest being Bishop (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