Morgan, MO is a small town located in western Missouri. The cost of living here is relatively low, with a two bedroom rent costing $730 compared to the US average of $1,430. The grocery cost index in Morgan is also lower than the national average at 92 versus 100. Due to its rural location and affordable housing options, Morgan is an attractive home for many people looking to relocate from major cities.
Morgan is also home to several local businesses that serve its small-town community. B & M Grocery and Wheeler’s Automotive Repair are two of the most popular companies in town providing groceries and auto repair services respectively. The town also has a hardware store, beauty salon, and a family-owned restaurant called Mama’s Kitchen. Morgan continues to be an attractive place for people looking for a quiet hometown with plenty of amenities.
Morgan has an unemployment rate of 3.6%. The US average is 6.0%.
Morgan has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 31.1%, which is lower than the US average of 33.5%.
Tax Rates for Morgan
- The Sales Tax Rate for Morgan is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Morgan is 5.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Morgan
- The average income of a Morgan resident is $25,026 a year. The US average is $37,638 a year.
- The Median household income of a Morgan resident is $43,958 a year. The US average is $69,021 a year.