The housing market in Morristown, NY is strong. The median value of a home there is $137,000, which is significantly lower than the US median of $338,100. In addition, the one-year house appreciation rate for Morristown is 9.27%, slightly above the US average of 8.27%. This indicates that homes are increasing in value in this area faster than in many other parts of the country and that it may be a good time to invest in the Morristown real estate market.
The median home cost in Morristown is $137,000. Home appreciation the last 10 years has been 30.9%. Home Appreciation in Morristown is up 11.4%.
Average Age of Homes
- The median age of Morristown real estate is 58 years old
The Rental Market in Morristown
- Renters make up 9.3% of the Morristown population
- 0.6% of houses and apartments in Morristown, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.