Morristown Historic District renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Morristown Historic District is about $2,332 per month. This puts it in the 95th percentile compared to the city average cost of rent, which is $2,239. Households in Morristown Historic District have a median income of $10,764 per month so the average renter in Morristown Historic District is spending roughly 22% of their earnings on housing.
Nationally, and in Morristown Historic District, home values are the data point most closely correlated with the cost of rent. The median price of a home in Morristown Historic District is $629,324 right now, which is higher than nearby neighborhoods, meaning that rents in Morristown Historic District also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the northwestern parts of Morristown Historic District while lower rent rates are often available in southeastern areas.
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