Housing costs in Morristown?
A typical home costs
$728,200, which is 115.4% more expensive than the national average of
$338,100 and 68.5% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Morristown costs
$2,360 per month, which is 65.0% more than the national average of
$1,430 and 27.5% more than the state average of
$1,710.
Can I afford Morristown?
To live comfortably in Morristown, New Jersey, a minimum annual income of
$139,680 for a family, and
$78,800 for a single person is recommended.
What does A.I. say about Morristown?
Morristown, NJ is a relatively expensive place to live. The cost of living in the area is 28% higher than the national average and housing costs are 43% higher than the national average. As such, rent and home prices tend to be more expensive here than in other cities. Utilities can also be costly, particularly for larger households. Despite this, many people find that the quality of life in Morristown is worth it due to its close proximity to New York City and its numerous amenities. It's also an excellent place for shopping and dining out with plenty of great restaurants and stores to choose from.