Housing costs in Morristown?
A typical home costs
$212,300, which is 37.2% less expensive than the national average of
$338,100 and 4.2% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Morristown costs
$980 per month, which is 31.5% cheaper than the national average of
$1,430 and close to the state average of
$980.
Can I afford Morristown?
To live comfortably in Morristown, Indiana, a minimum annual income of
$40,680 for a family, and
$33,200 for a single person is recommended.
What does A.I. say about Morristown?
The cost of living in Morristown, IN is relatively low, making it a great place to live and work. The overall cost of living index is 83.4, which is 17.6 points lower than the national average. Grocery prices are particularly low with an index of 88.2 compared to the national average of 100. Housing costs are also low with an index of 68.6 compared to the national average of 100. Utilities are slightly higher but still remain below the national average at 96.2 compared to 100 for the United States as a whole. All this adds up to make Morristown a great place to live for those on a budget or looking for a more affordable city than some others in Indiana or elsewhere in the country.