Morris County
New Jersey · Pop. 509,285
Ranked #157 of 200 counties
32Crisis
Median Home Price
🏠$520K
2.8% YoY
Median Rent
🔑$1,900
Median Income
💰$110K
Rent Burden
📊24.5%
% of income to rent
Housing Shortage
🏗️3,000
estimated unit deficit
Building Permits (2024)
📋2,000
Price-to-Income Ratio
⚖️4.7x
Homeownership Rate
🏡74.0%
How Morris County Compares
| Metric | Morris County | New Jersey | National |
|---|---|---|---|
| Home Price | $520K | $461K | $410K |
| Rent | $1,900 | $1,667 | $1,500 |
| Income | $110K | $100K | $75K |
| Rent Burden | 24.5% | 36.0% | 30.0% |
| Homeownership | 74.0% | 64.0% | 65.0% |
Key Takeaways
- • Home prices are 27% above the national average.
- • Rent is 27% above the national average.
- • The county has an estimated housing shortage of 3,000 units.
- • 2,000 building permits were issued in 2024.
- • Year-over-year home prices changed by 2.8%.