Commercial Real Estate Market in Morganfield, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
4 active listings and 373 off-market properties in Morganfield, KY.
Market Trends
Morganfield, KY spans 169.1 square miles in Union County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Morganfield, KY runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Morganfield, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Morganfield, KY runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Morganfield, KY runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 59.4%
- Industrial 30.4%
- Commercial 10.2%
Largest Zones share of zoned land by district
Low Density Residential
Medium Density Residential
Light Industrial District
Heavy Industrial District
Secondary Business District
Morganfield, KY zones 1,707 acres across 7 districts. Commercial zoning covers 10.2% of zoned land, residential 59.4% and industrial 30.4%. The largest single district is Low Density Residential at 28.3%. For commercial buyers the practical constraint is that only 40.6% of land carries a commercial or industrial designation.
Low Density Residential (R1)
This is the most restrictive residential district oriented toward low density development
Market overview
Demographics & Economy
Morganfield, KY has 7,422 residents in 3,108 households. Density runs 44 people per square mile. Median household income here is $64,464 and median gross rent $827 a month.
7,422
Population
3,108
Households
2.4
Avg Household Size
39
Median Age
14%
College-Educated
92%
High-School Grad
169.1 sq mi
ZIP Area
44
Density / Sq Mi
$64,464
Median Household Income
$37,762
Median Earnings
$827
Median Rent
$126,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Spring Grove | — | — |
| Waverly | — | — |
| Grove Center | — | — |
| Boxville | — | — |
Commercial property in Morganfield, KY asks $110/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Morganfield?
Commercial property in Morganfield, KY asks an average of $110 per square foot.
What zoning applies to commercial property in Morganfield?
Morganfield, KY zones 1,707 acres across 7 districts, of which 10.2% is commercial and 30.4% industrial. The largest single district is Low Density Residential at 28.3% of zoned land. This is the most restrictive residential district oriented toward low density development Residential zoning covers 59.4% and open space 0%.
Where does Realmo's Morganfield market data come from?
Realmo compiles Morganfield, KY figures from 6 recent recorded sales, 4 active sale listings, 373 tracked off-market properties, the current Morganfield zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 4 active for-sale and 0 active for-lease listings in Morganfield, KY. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 1,707 zoned acres across 7 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
