Quick facts: Fort morgan, CO

Quick Facts

114.3
Cost of Living
above US average
11,453
Population
27.59
Crime Rate per 1000
above US average
$55,407
Median Income
below US average
$379,000
Median House Price
above US average
$1496.88
Average Rent
above US average
11%
Poverty Rate
above US average
2.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $55,407.

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Income Needed to Buy

βœ— Stretch
$119k/year
Based on $379,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $119k vs median $55,407
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Income Needed to Rent

⚠ Stretch
$64k/year
Based on $1496.88/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $64k vs median $55,407
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Fort morgan, CO

Fort Morgan is a charming city located in Morgan County, Colorado. It is situated along the South Platte River and boasts a rich history that dates back to the 19th century, originally established as a military fort during the Indian Wars. The city offers a blend of small-town charm and modern amenities, making it an appealing place for residents and visitors alike. Fort Morgan features a variety of recreational opportunities, including parks, sports facilities, and nearby outdoor activities like hiking, fishing, and camping. The city's vibrant downtown area includes local shops, restaurants, and historical sites that reflect its heritage, such as the Fort Morgan Museum, which provides insight into the local history and culture. Community events, such as the annual Morgan County Fair, bring residents together and foster a strong sense of community. The local economy is supported by agriculture, manufacturing, and commerce, providing a diverse range of employment opportunities. Overall, Fort Morgan serves as a welcoming and picturesque destination that embodies the spirit of the American West, offering both historical significance and a thriving community atmosphere.

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