The median home in Morristown, New Jersey is valued at $860,793, up 4.6% year over year. Typical monthly rent is $2,883, producing a price-to-rent ratio of 24.9x — well above the national average of 18x. Morristown is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.

See the full metro analysis: New York-Newark-Jersey City, NY-NJ-PA stress score, crash risk, and 12-month forecast →

Home Value$860,793

+4.6%

Rent$2,883/mo

AFFORDABILITY

Enter your income for Morristown.

Income (annual)

Down Payment

$172,159 on $860,793

Out of reach — 99.9% of income

Need $267,471/yr to afford.

PITI$6,241

P/I99.9%

Afford$241K

Gap-$619K

P&I $4,353Tax $1,772Ins $117

Renting $3,358/mo cheaper ($2,883 rent)6.50% 30yr, 20% down, county tax + NJ ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Other cities in New Jersey

Compare Morristown with other housing markets across New Jersey.

Deal$4213K Alpine$2955K Loch Arbour$2880K Avalon$2630K Stone Harbor$2477K Bay Head$2362K Sea Girt$2305K Short Hills$2258K

Full New York-Newark-Jersey City, NY-NJ-PA analysis

Stress scores, crash risk, early warning signals, and 12-month price forecasts for the New York-Newark-Jersey City, NY-NJ-PA metro.

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MORRISTOWN, NJ