Cost of Living in Morristown, NJ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
193.5
100 = national avg
+93.5 vs national average
Living Wage (1 Adult)
$85,135
per year
Living Wage (Family of 4)
$201,228
per year
Cost Index by Category
Housing281.5
Food138.2
Transportation125.2
Healthcare130.6
Utilities159.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,822
per month
2 Bedroom
$2,205
per month
The overall cost of living index in Morristown is 193.5, which is 93.5% above the national average. Housing costs are above the national average at an index of 281.5. A single adult needs to earn approximately $85,135 per year to cover basic expenses.