Housing in Morristown, NJ
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Redfin — January 2026Median Sale Price
$862,500
Median List Price
$764,000
Price Per Sq Ft
$359
Days on Market
27
Active Inventory
13
Months of Supply
1.6
Seller's market
Zillow Home Value
$860,793
ZHVI — January 2026
Zillow Rent Index
$2,883
ZORI — January 2026
Price Trends
Source: RedfinMarket Competitiveness
Source: RedfinSold Above List
62.5%
Off Market in 2 Weeks
28.6%
Sale-to-List Ratio
104.9%
Seller's market
Market Activity
Source: RedfinHomes Sold
8
New Listings
11
Pending Sales
7
Price Per Square Foot
Source: RedfinMedian Sale $/SF
$359
Median List $/SF
$419
Morristown vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with 10,000 - 25,000 residents. Morristown is highlighted.
Median Home Value
Median Rent
Median Price Per Sq Ft
Rent Burden
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$552,800
Median Rent
$2,171
Total Housing Units
9,318
Vacancy Rate
4.4%
Owner Occupied
36.1%
Renter Occupied
63.9%
Median Property Tax
$10,001
per year
Monthly Cost (w/ Mortgage)
$2,700
Housing Types
The current median sale price in Morristown, NJ is $862,500 according to Redfin data. Homes spend a median of 27 days on the market. 62.5% of homes sold above asking price. The market has 1.6 months of supply. The median price per square foot is $359. Zillow's observed rent index is $2,883/month. About 36.1% of housing units are owner-occupied. The median year homes were built is 1968. There are 9,318 total housing units.