Morgan Hill, NY—12491
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Morgan Hill, NY
As of Oct '25, the median home price in Morgan Hill, NY is $465,000, with a year-over-year change of 1.6%. This indicates that home prices in Morgan Hill, NY are increasing. According to Zillow, the 1-year price projection is 3.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $465,000 | 1.6% |
| Single Family | $468,000 | 0.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $373,000 | 1.1% |
3 Bed | $460,000 | 1.3% |
4 Bed | $560,000 | 3.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Morgan Hill, NY
As of July '25, Rentcast reports the average rent in Morgan Hill, NY is $2,920, with a year-over-year rent change of -30.5%. Per bedroom, the median rent as of July '25 in Morgan Hill, NY is 2-bedrooms: $2,250, 3-bedrooms: $3,600. The most common rental property sizes in Morgan Hill, NY are 3-bedroom and 1-bedroom, accounting for 61.5% and 26.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,920 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,250 | $2,250 |
| 3 Bed Rent | $3,200 | $3,600 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Morgan Hill, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Morgan Hill, NY is 80. This is a decrease of -23.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $660,000 | 12.0% |
Listing Count | 14 | -30.0% |
| Listings as % of Homes | 1.5% | -30.0% |
Days on Market | 80 | -23.0% |
Demographics — Morgan Hill, NY
As of the latest ACS Survey released in 2023, Morgan Hill, NY has a population of 2,020, which has increased by 31.4% over the past 5 years. Morgan Hill, NY is a moderately popular place for families, as children make up 23.6% of the population. The area has a highly educated workforce, with 51.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,020 | 31.4% |
% Under 18 | 23.6% | 19.8% |
% Seniors | 21.2% | 1.9% |
% WFH | 12.2% | 293.5% |
% w/ College Degree | 51.4% | 27.5% |
As of the latest ACS Survey released in 2023, Morgan Hill, NY is a predominantly white area, with 79.9% of the population identifying as white. The white population has shrunk by 10.1% in the last 5 years. The second most common race or ethnicity in Morgan Hill, NY is hispanic, making up 17.6% of the population. Foreign-born residents account for 2.5% of the population in Morgan Hill, NY, and this percentage has increased by 31.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 79.9% | -10.1% |
% Black | 0.3% | -62.5% |
% Hispanic | 17.6% | 417.6% |
% Asian | 0.0% | N/A |
% Foreign Born | 2.5% | 31.6% |
Mortgage and Risk — Morgan Hill, NY
According to HUD data as of 2023, there were 38 mortgage originations in Morgan Hill, NY, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Morgan Hill, NY. Investor activity is low, as 0.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 38 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 0.0% |
% Second Loans | 16.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Morgan Hill, NY
Morgan Hill, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 23.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,420 |
| 2 Bedroom | -$390 | $2,250 | $1,860 |
| 3 Bedroom | -$850 | $3,200 | $2,350 |
| 4 Bedroom | N/A | N/A | $2,550 |
Affordability — Morgan Hill, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $465,000 |
| Median Household Income | $72,000 |