Morristown, NJ Real Estate

According to census data in the year 2000 there were 7,615 housing units in Morristown. This represents a 7.8% growth from 7,061 in 1990.

Of those housing units, 7,615 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.

Homeownership rate in Morristown is about 39.4%. Morristown's vacancy rate, including seasonal lodging, is about 4.8%. Average household size is 2.43 people.

The majority of houses, apartments or condos in Morristown were built after 1954.


Housing Size

Housing Units by Size
Studio Type6.10%
One Bedroom30.60%
Two Bedrooms23.30%
Three Bedrooms24.70%
Four Bedrooms10.40%
Five Bedrooms or more5%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.75
Median year structure was built1951
Median Value of occupied units$224,400
Median Price asked for vacant units$327,300

Rented Homes, Apartments and Condos

Average Household Size2.22
Median year structure was built1956
Median Monthly Rent asked for vacant units$942

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage6%
Home Equity Loan14%
Simple Mortgage55.80%
Debt Free24.20%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs22.1%