Once known as Beardsville and Claude, Morgantown was settled circa 1815 by Francis and William Lenoir, George Nixon, Robert Baylor, and Robert McGowan. The name was suggested by Lizzie Morgan as early as 1909. In 1884, C.N. Beard opened a school, and Jim Morgan added a store in 1896 and a post office in 1904. Long connected with Pentecostalism, the town once had a depot, jail, mayor, and doctor. Its natives include sculptor Norman Boyles, Gen. Thomas Lenoir, legislator Kelly Hammond, theologian Leo Eddleman, and musician Jimmy Easterling.