Housing costs in Morristown?
A typical home costs
$220,900, which is 34.7% less expensive than the national average of
$338,100 and 0.3% 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 (zip 46161), Indiana, a minimum annual income of
$42,480 for a family, and
$32,800 for a single person is recommended.
What does A.I. say about Morristown?
The cost of living in 46161 Morristown, IN is relatively low compared to the national average. According to the Best Places Cost of Living Index, the overall cost of living index for this area is 82.9 which is 18.1% lower than the U.S. average. Housing costs are especially low with a median home value of only $94,500 and an affordable median rent of $741 per month. Groceries are also fairly inexpensive with the local grocery store pricing being 6% lower than the national average. Additionally, transportation costs are also quite affordable with residents spending an average of around $2,700 on transportation annually which is roughly 13% lower than the national average.