Morris Plains, NJ is an affluent town with a median housing value of $566,600. This is significantly higher than the US median house value of $338,100. In the last year, house appreciation in Morris Plains was 6.48%, which is lower than the national average of 8.27%. Despite this lower rate of appreciation, homes in Morris Plains remain highly desirable and retain their value better than the majority of towns across the United States.
The median home cost in Morris Plains is $566,600. Home appreciation the last 10 years has been 44.3%. Home Appreciation in Morris Plains is up 12.1%.
Average Age of Homes
- The median age of Morris Plains real estate is 58 years old
The Rental Market in Morris Plains
- Renters make up 14.5% of the Morris Plains population
- 2.6% of houses and apartments in Morris Plains, 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.