Morristown, MN
Full City Profile · Minnesota · Rice County County
3.5
/5.0
B+
Good
982
Population
877/sq mi density
$74,479
Median Income
$40,884 per capita
$175,600
Home Value
$326,420 Zillow
$1,152
Median Rent
24.8% income on rent
45°F
Avg Temperature
B+
Overall
3.5 / 5.0
Good overall score based on economy, affordability, safety and education
B+
Economy
3.9 / 5.0
$74,479 median income, 5.2% unemployment
A+
Affordability
5.0 / 5.0
$175,600 home value, $1,152/mo rent
D
Education
1.7 / 5.0
9.2% bachelor's degree or higher
Housing Overview
Median Home Value
$175,600
38% below
US avg: $281,900
Median Rent
$1,152/mo
1% below
US avg: $1,163/mo
Homeownership Rate
77.9%
19% above US avg (65.4%)
Total Housing Units
411
Median year built: 1963
Home Value by Source
Census Median
$175,600
Zillow (ZHVI)
$326,420
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
77.9%
Owner-Occupied
22.1%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$809/mo
1 Bedroom
$899/mo
2 Bedroom
$1,125/mo
3 Bedroom
$1,483/mo
4 Bedroom
$1,698/mo
Census median rent:
$1,152/mo
Affordability & Housing Stock
Rent Burden
24.8%
of renters spending 30%+ of income on housing
20% below US avg (31.0%)
Median Year Built
1963
Average age of housing stock: 63 years
Homeownership Rate
77.9%
Complete Housing Data
Home Values
| Census Median Value | $175,600 |
| Zillow Home Value (ZHVI) | $326,420 |
Rent
| Census Median Rent | $1,152 |
| FMR Studio | $809 |
| FMR 1-Bedroom | $899 |
| FMR 2-Bedroom | $1,125 |
| FMR 3-Bedroom | $1,483 |
| FMR 4-Bedroom | $1,698 |
Market
Ownership & Stock
| Owner-Occupied | 77.9% |
| Renter-Occupied | 22.1% |
| Homeownership Rate | 77.9% |
| Total Housing Units | 411 |
| Median Year Built | 1963 |
| Rent Burden | 24.8% |