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These days, finding an affordable place to live in the Morristown area can be challenging. Home prices in Morristown are now at a median cost of $215,455, lower than the Indiana average of $232,932.
The average cost of rent is $1,029/mo in Morristown, primarily driven by the current value of real estate in the Morristown area. In Morristown, 23.49% of households rent, and 41.58% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Morristown is $6,729 per month. Households that rent pay about 15.30% of their income on rent here. Morristown’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Gwynneville, IN: equally priced homes
- Westland, IN: higher priced homes
- Knighthood Village, IN: higher priced homes
- Fountaintown, IN: higher priced homes
- Arlington, IN: equally priced homes
- Rays Crossing, IN: higher priced homes
- Occident, IN: equally priced homes
- Carthage, IN: less expensive homes
- Green Meadows, IN: higher priced homes
- Clover Village, IN: higher priced homes
Cities with Similar Populations
- Readfield, ME: higher priced homes
- Morristown, AZ: higher priced homes
- Mount Olive, IL: less expensive homes
- Muenster, TX: higher priced homes
- New Castle, VA: equally priced homes
- Olton, TX: less expensive homes
- Onancock, VA: higher priced homes
- Oswego, KS: less expensive homes
- Owen, WI: less expensive homes
- Parker City, IN: less expensive homes
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