The typical owner-occupied home in Morrow is worth about $224,700, 26% below the Georgia median of $303,300 and 32% below the national median of $332,700. Owners pay a median $1,713 a year in property taxes, about 0.76% of their home's value, close to the Georgia rate of 0.77%. The median household earns $73,693 a year, so the median home costs 3.0 times the median income (3.9 times for Georgia). 52% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Morrow at a glance
| Morrow | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $224,700 | $303,300 | $332,700 |
| Median property tax paid per year | $1,713 | $2,341 | $3,119 |
| Property tax as a share of value | 0.76% | 0.77% | 0.94% |
| Median household income | $73,693 | $77,353 | $80,734 |
| Homes lived in by their owners | 52% | 66% | 65% |
| Owner homes with a mortgage | 53% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,450 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 26.6% | 20.0% | 21.0% |
| Median rent | $1,515 | $1,393 | $1,413 |
| Rent as a share of renters' income | 29.5% | 31.3% | 30.6% |
| Median year homes were built | 1971 | 1992 | 1980 |
| Vacant homes | 5.4% | 10.3% | 10.1% |
| Population | 6,364 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Morrow
At this week's average 30-year rate of 7.11%, buying the median Morrow home of $224,700 with 20% down costs about $1,445 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,820, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $61,937 for the 20%-down payment. That payment is 24% of the median Morrow household income of $73,693; at that income and 20% down, the 28% guideline points to a home of about $267,000.
The median rent here is $1,515 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $44,940 |
|---|---|
| Loan amount | $179,760 |
| Principal and interest | $1,209 |
| Property taxes (0.76% a year) | $142 |
| Homeowners insurance (our estimate, 0.5% a year) | $94 |
| PMI | $0 |
| Total per month | $1,445 |
Change the numbers in the calculator
| Down payment | $7,864 |
|---|---|
| Loan amount | $220,630 |
| Principal and interest | $1,484 |
| Property taxes (0.76% a year) | $142 |
| Homeowners insurance (our estimate, 0.5% a year) | $94 |
| FHA mortgage insurance | $99 |
| Total per month | $1,820 |
Change the numbers in the calculator
Questions about home buying in Morrow
What is the median home value in Morrow?
About $224,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Morrow?
Homeowners pay a median $1,713 a year, which is about 0.76% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Morrow?
For the median home with 20% down at 7.11%, the payment is about $1,445 a month. Keeping that under 28% of gross income takes about $61,937 a year.
More about Morrow
- Mortgage Refinance in Morrow
- Debt Relief in Morrow
- Home Equity Loans in Morrow
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data