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.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 6.10% |
| One Bedroom | 30.60% |
| Two Bedrooms | 23.30% |
| Three Bedrooms | 24.70% |
| Four Bedrooms | 10.40% |
| Five Bedrooms or more | 5% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.75 |
| Median year structure was built | 1951 |
| Median Value of occupied units | $224,400 |
| Median Price asked for vacant units | $327,300 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.22 |
| Median year structure was built | 1956 |
| Median Monthly Rent asked for vacant units | $942 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 6% |
| Home Equity Loan | 14% |
| Simple Mortgage | 55.80% |
| Debt Free | 24.20% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 22.1% |
