Morristown, NJ
Population 20,256 · New Jersey
About Morristown, NJ
Morristown is a mid-sized city located in New Jersey with a population of 20,256 residents according to the latest US Census Bureau American Community Survey data. The median household income is $115,409 per year, which is 54% above the national median of $75,149. The median age of 34 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Morristown features a median home value of $552,800, which is 126% above the national median of $244,900. This places Morristown in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,171, 87% above the national average of $1,163/month. Of the 9,318 total housing units, 36% are owner-occupied (3,213 units) and 64% are renter-occupied (5,694 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Morristown shows an unemployment rate of 5.0%, which is near the national rate of 3.7%. The poverty rate stands at 9.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Morristown have an average one-way commute time of 24.4 minutes.
Education & Demographics
57.5% of Morristown residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 1.7% White, 0.3% Hispanic or Latino, 4.6% Black or African American, and 22.9% Asian residents, with 20.9% of the population being foreign-born.
Cost of Living in Morristown, NJ
Compared to national averages, Morristown has a median household income of $115,409 (54% above the national median of $75,149). Home values average $552,800, which is 126% above the national median. Monthly rent at $2,171 is 87% above the US average of $1,163. Within New Jersey, Morristown's income is 0% below the state average of $115,667, and home values are 18% above the state median of $469,644.
Why Live in Morristown, NJ?
Morristown offers a strong local economy with a median household income of $115,409, well above the national average, and a well-educated community where 57.5% of residents hold a bachelor’s degree or higher, and a low poverty rate of 9.2%, better than the national average. Additionally, the city features short commute times averaging just 24.4 minutes.
Potential considerations include a competitive housing market where the typical home costs $552,800. However, Morristown’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Morristown has a population of 20,256 with a median age of 34 years. Compare Morristown with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Morristown
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Palisades Park | 20,192 | $101,295 | $704,400 | Compare |
| Woodbridge | 20,086 | $99,718 | $361,200 | Compare |
| Pleasantville | 20,604 | $52,403 | $177,700 | Compare |
| Harrison | 19,599 | $82,290 | $450,800 | Compare |
| Hawthorne | 19,472 | $118,093 | $499,200 | Compare |
| Tinton Falls | 19,252 | $113,844 | $458,300 | Compare |
| Elmwood Park | 21,287 | $100,852 | $456,000 | Compare |
| Point Pleasant | 19,158 | $108,713 | $523,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Morristown With Other Cities
Frequently Asked Questions about Morristown
What is the population of Morristown, NJ?
The population of Morristown, NJ is 20,256 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in New Jersey.
What is the median household income in Morristown?
The median household income in Morristown, NJ is $115,409 per year, which is 54% above the national median of $75,149.
What is the median home value in Morristown?
The median home value in Morristown, NJ is $552,800, which is 126% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Morristown?
The median monthly rent in Morristown, NJ is $2,171, which is 87% above the national average of $1,163/month.
What is the unemployment rate in Morristown?
The unemployment rate in Morristown, NJ is 5.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Morristown, NJ a good place to live?
Morristown offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 20,256 and a median age of 34, the city appeals to young professionals and families.
How educated is Morristown, NJ?
57.5% of residents in Morristown aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Morristown?
Key cost-of-living indicators for Morristown, NJ: median home value is $552,800 (126% above national), median rent is $2,171/month, and median household income is $115,409. The home-value-to-income ratio is 4.8x, a moderate figure by national standards.
What is the poverty rate in Morristown?
The poverty rate in Morristown, NJ is 9.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Morristown, NJ?
Morristown's population is 1.7% White, 0.3% Hispanic or Latino, 4.6% Black or African American, 22.9% Asian, and 9.2% two or more races. 20.9% of residents are foreign-born.