Home Price Key
Affordable
Average
Expensive
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 $607,871, higher than the New Jersey average of $388,929.
The average cost of rent is $2,239/mo in Morristown, primarily driven by the current value of real estate in the Morristown area. While nearly 30.97% of residents own their homes outright in Morristown, 35.89% rent.
Housing affordability isn’t just about home prices, though. The average household income in Morristown is $13,085 per month. Households that rent pay about 17.11% of their income on rent here. Morristown's most expensive areas are in the northwestern regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Cedar Knolls, NJ: less expensive homes
- Morris Plains, NJ: less expensive homes
- Whippany, NJ: less expensive homes
- New Vernon, NJ: higher priced homes
- Madison, NJ: higher priced homes
- Brookside, NJ: higher priced homes
- Florham Park, NJ: equally priced homes
- Green Village, NJ: higher priced homes
- Mount Tabor, NJ: less expensive homes
- Madisonville, NJ: higher priced homes
Cities with Similar Populations
- Bessemer, AL: less expensive homes
- Waxhaw, NC: less expensive homes
- Egg Harbor Township, NJ: less expensive homes
- Eagle Pass, TX: less expensive homes
- Duncanville, TX: less expensive homes
- Doylestown, PA: less expensive homes
- Cutler Bay, FL: less expensive homes
- Coppell, TX: less expensive homes
- Cleveland Heights, OH: less expensive homes
- Butler, PA: less expensive homes
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