Living in Morristown, New Jersey
Cost of living, income, home prices, rent and demographics of Morristown · Census data 2020–2024
Morristown has 20,453 residents with a median age of 34.2. The median household income is $121,340 (17% higher than the New Jersey median), the median home value is $567,600, the median rent is $2,274/month.
Morristown at a glance
- Population
- 20,453
- Median age
- 34.2State: 40.1
- Median household income
- $121,340State: $103,556
- Median home value
- $567,600State: $454,400
- Median rent
- $2,274/moState: $1,720
- Homeowners
- 36.7%
- Bachelor's degree or higher
- 58.1%
- Average commute
- 24 min
Is Morristown a good place to live?
Pros: Median household income 17% higher than the New Jersey median; an average commute of 24 minutes; unemployment of 5.3%; a poverty rate of 7.8%.
Cons: Home values 25% higher than the state median.
The weather is best in May–June and August–September.
Cost of living in Morristown
Housing is the biggest part of the cost of living. In Morristown the median home value is $567,600, 71% higher than the U.S. median. Renters pay a median of $2,274 per month, which is 26.9% of household income. Homeowners with a mortgage pay $2,984 a month in housing costs.
Morristown median household income
The median household income in Morristown is $121,340 and the income per person is $73,143. 7.8% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Morristown: homes for sale and rent
- Housing units
- 9,360
- Owner-occupied
- 36.7%
- Renter-occupied
- 63.3%
- Vacant
- 3.1%Includes seasonal homes
- Median year built
- 1970
- Average household size
- 2.21
Morristown demographics
- Population
- 20,453
- Median age
- 34.2
- Under 18
- 17%
- 65 and older
- 14.3%
- Households
- 9,069
- Foreign-born
- 22.5%
- Veterans
- 1.4%Adults 18+
Hispanic or Latino can be of any race. Population history of Morristown ›
Education in Morristown
58.1% of adults 25 and older in Morristown have a bachelor's degree or higher (New Jersey: 43.6%), and 25.4% have a graduate or professional degree.
Jobs and commute in Morristown
- Unemployment rate
- 5.3%State: 6.3%
- Average commute
- 24 minState: 31 min
- Work from home
- 18.8%
- Drive alone
- 62.2%
- Public transit
- 2.1%
- Walk to work
- 6%
- Homes with broadband
- 95%
Morristown vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Morristown | 20,453 | $121,340 | $567,600 | $2,274 |
| Morris | 23,424 | $204,951 | $765,100 | $2,437 |
| Cedar Knolls | 4,882 | $170,400 | $646,700 | $2,849 |
| Morris Plains | 6,315 | $154,923 | $643,300 | $2,835 |
| Hanover | 14,769 | $156,956 | $629,600 | $2,813 |
| Whippany | 8,970 | $151,420 | $615,400 | $2,556 |
| Harding | 3,896 | $222,429 | $1,145,100 | $2,917 |
| Madison | 16,447 | $171,471 | $943,200 | $2,253 |
| Green Village | 1,130 | $88,977 | $823,900 | $2,782 |
More for people moving to Morristown
Morristown ZIP code ›Weather and climate ›Living in Morristown: FAQ
What is the median household income in Morristown, NJ?
The median household income in Morristown is $121,340, 17% higher than the New Jersey median of $103,556 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Morristown?
The median home value in Morristown is $567,600, compared with $454,400 in New Jersey.
How much is rent in Morristown?
The median gross rent in Morristown is $2,274 per month, about 26.9% of household income.
Is Morristown, NJ a good place to live?
Pluses: median household income 17% higher than the New Jersey median; an average commute of 24 minutes; unemployment of 5.3%; a poverty rate of 7.8%. Minuses: home values 25% higher than the state median.
What is the median age in Morristown?
The median age in Morristown is 34.2 years (New Jersey: 40.1).
How long is the commute in Morristown?
The average commute to work in Morristown is 24 minutes; 18.8% of workers work from home.
What is the unemployment rate in Morristown?
The unemployment rate in Morristown is 5.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Morristown?
58.1% of adults in Morristown have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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