The Most Affordable Neighborhoods in Morristown Historic District, Morristown, NJ by Home Value

 

Morristown Historic District, Morristown, NJ Map of Most Affordable Neighborhoods
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These days, finding an affordable place to live in the Morristown Historic District area can be challenging. Home prices in Morristown Historic District are now at a median cost of $629,324, higher than the Morristown average of $607,871.

The average cost of rent is $2,332/mo in Morristown Historic District, primarily driven by the current value of real estate in the Morristown Historic District area. While nearly 36.78% of residents own their homes outright in Morristown Historic District, 71.95% rent.

Housing affordability isn’t just about home prices, though. The average household income in Morristown Historic District is $10,764 per month. Households that rent pay about 21.66% of their income on rent here. Morristown Historic District's most expensive areas are in the central regions, while the cheapest areas are in the northwestern parts of the neighborhood.


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