All Countries
Morristown, NJ
Full City Profile · New Jersey · Morris County County
3.6
/5.0
B+
Good
20,256
Population
6,961/sq mi density
$115,409
Median Income
$66,773 per capita
$552,800
Home Value
$862,203 Zillow
$2,171
Median Rent
26.9% income on rent
53°F
Avg Temperature
271 sunny days/yr
214
Violent Crime/100K
888 property/100K
B+
Overall
3.6 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
4.6 / 5.0
$115,409 median income, 3.8% unemployment
B+
Affordability
4.0 / 5.0
$552,800 home value, $2,171/mo rent
F
Safety
1.0 / 5.0
214 violent crimes/100K
A+
Education
5.0 / 5.0
57.5% bachelor's degree or higher
Housing Overview
Median Home Value
$552,800
96% above
US avg: $281,900
Median Rent
$2,171/mo
87% above
US avg: $1,163/mo
Homeownership Rate
36.1%
45% below US avg (65.4%)
Total Housing Units
9,307
Median year built: 1965
Home Value by Source
Census Median
$552,800
Zillow (ZHVI)
$862,203
Median Sale Price
$721,250
Median List Price
$807,500
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
36.1%
Owner-Occupied
63.9%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$1,599/mo
1 Bedroom
$1,759/mo
2 Bedroom
$2,132/mo
3 Bedroom
$2,658/mo
4 Bedroom
$3,005/mo
Census median rent:
$2,171/mo
· Zillow rent:
$2,961/mo
Market Indicators (Redfin)
Median Days on Market
54 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
6
Price Drops
12.5%
of listings with price reduction
Price Per Sq Ft
$416
Active Inventory
16
homes for sale
Affordability & Housing Stock
Rent Burden
26.9%
of renters spending 30%+ of income on housing
13% below US avg (31.0%)
Median Year Built
1965
Average age of housing stock: 61 years
Homeownership Rate
36.1%
Complete Housing Data
Home Values
| Census Median Value | $552,800 |
| Zillow Home Value (ZHVI) | $862,203 |
| Median Sale Price | $721,250 |
| Median List Price | $807,500 |
| Price Per Sq Ft | $416 |
Rent
| Census Median Rent | $2,171 |
| Zillow Rent (ZORI) | $2,961 |
| FMR Studio | $1,599 |
| FMR 1-Bedroom | $1,759 |
| FMR 2-Bedroom | $2,132 |
| FMR 3-Bedroom | $2,658 |
| FMR 4-Bedroom | $3,005 |
Market
| Days on Market | 54 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 12.5% |
| Homes Sold | 6 |
| Active Inventory | 16 |
| Price Per Sq Ft | $416 |
Ownership & Stock
| Owner-Occupied | 36.1% |
| Renter-Occupied | 63.9% |
| Homeownership Rate | 36.1% |
| Total Housing Units | 9,307 |
| Median Year Built | 1965 |
| Rent Burden | 26.9% |