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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 $176,911, lower than the New York average of $610,895.
The average cost of rent is $1,036/mo in Morristown, primarily driven by the current value of real estate in the Morristown area. In Morristown, 20.16% of households rent, and 57.22% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Morristown is $5,456 per month. Households that rent pay about 18.98% of their income on rent here. Morristown’s most expensive areas are in the central regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Brier Hill, NY: less expensive homes
- Hammond, NY: less expensive homes
- Oak Point, NY: higher priced homes
- Pope Mills, NY: less expensive homes
- DePeyster, NY: less expensive homes
- Ruby Corner, NY: less expensive homes
- Ogdensburg, NY: less expensive homes
- Heuvelton, NY: less expensive homes
- Chippewa Bay, NY: equally priced homes
- Rossie, NY: less expensive homes
Cities with Similar Populations
- Sunny Side, VA: higher priced homes
- Fingerville, SC: higher priced homes
- Flasher, ND: equally priced homes
- Fourmile, KY: less expensive homes
- Free Hope, AR: equally priced homes
- Fullerton, LA: equally priced homes
- Gas City, OK: less expensive homes
- Grafton, NY: higher priced homes
- Gray, PA: less expensive homes
- Green Mountain, IA: higher priced homes
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