Morganfield, KY
Population 3,208 · Kentucky
About Morganfield, KY
Morganfield is a small town located in Kentucky with a population of 3,208 residents according to the latest US Census Bureau American Community Survey data. The median household income is $63,546 per year, which is 15% below the national median of $75,149. The median age of 41.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Morganfield features a median home value of $116,100, which is 53% below the national median of $244,900. This makes Morganfield one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $830, 29% below the national average of $1,163/month. Of the 1,685 total housing units, 56% are owner-occupied (760 units) and 44% are renter-occupied (605 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Morganfield shows an unemployment rate of 1.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 13.7%, above the national average of 12.4%. Workers in Morganfield have an average one-way commute time of 22.8 minutes.
Education & Demographics
16.4% of Morganfield residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 1.4% Hispanic or Latino, 0.0% Black or African American, and 0.9% Asian residents, with 0.3% of the population being foreign-born.
How Morganfield Ranks in Kentucky
Cost of Living in Morganfield, KY
Compared to national averages, Morganfield has a median household income of $63,546 (15% below the national median of $75,149). Home values average $116,100, which is 53% below the national median. Monthly rent at $830 is 29% below the US average of $1,163. Within Kentucky, Morganfield's income is 4% below the state average of $66,273, and home values are 36% below the state median of $182,504.
Why Live in Morganfield, KY?
Morganfield offers affordable housing with a median home value of $116,100, below the US average of $244,900, and rent that’s lower than the national average at $830/month, and a strong job market with an unemployment rate of just 1.6%. Additionally, the city features short commute times averaging just 22.8 minutes.
Potential considerations include median household income ($63,546) that falls below the national average. However, Morganfield’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Morganfield has a population of 3,208 with a median age of 41.9 years. Compare Morganfield with other cities to see how it stacks up, or explore all cities in Kentucky.
Similar Cities Near Morganfield
Cities in Kentucky with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Stanton | 3,211 | $29,141 | $127,200 | Compare |
| Crestview Hills | 3,226 | $106,375 | $263,000 | Compare |
| Barbourville | 3,181 | $20,971 | $190,200 | Compare |
| Park Hills | 3,155 | $102,112 | $274,200 | Compare |
| Hodgenville | 3,262 | $58,750 | $137,100 | Compare |
| Wilder | 3,148 | $71,567 | $137,600 | Compare |
| West Liberty | 3,280 | $57,411 | $202,100 | Compare |
| Claryville | 3,306 | $86,250 | $259,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Kentucky
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Morganfield With Other Cities
Frequently Asked Questions about Morganfield
What is the population of Morganfield, KY?
The population of Morganfield, KY is 3,208 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Kentucky.
What is the median household income in Morganfield?
The median household income in Morganfield, KY is $63,546 per year, which is 15% below the national median of $75,149.
What is the median home value in Morganfield?
The median home value in Morganfield, KY is $116,100, which is 53% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Morganfield?
The median monthly rent in Morganfield, KY is $830, which is 29% below the national average of $1,163/month.
What is the unemployment rate in Morganfield?
The unemployment rate in Morganfield, KY is 1.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Morganfield, KY a good place to live?
Morganfield offers a moderate cost of living, affordable housing, and a strong job market. With a population of 3,208 and a median age of 41.9, the city appeals to a broad range of residents.
How educated is Morganfield, KY?
16.4% of residents in Morganfield aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Morganfield?
Key cost-of-living indicators for Morganfield, KY: median home value is $116,100 (53% below national), median rent is $830/month, and median household income is $63,546. The home-value-to-income ratio is 1.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Morganfield?
The poverty rate in Morganfield, KY is 13.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Morganfield, KY?
Morganfield's population is 0.0% White, 1.4% Hispanic or Latino, 0.0% Black or African American, 0.9% Asian, and 8.7% two or more races. 0.3% of residents are foreign-born.