Cost of Living in Morris County, NJ

What does it cost to live in Morris County? Income, housing, and affordability breakdown.

Median Income

$130,808

Median Rent

$1,814/mo

Median Home

$531,800

Affordability

295

Housing Cost Breakdown

Owning (20% down, 6.5%)

Mortgage (P&I)$2,689
Property Tax$833
Insurance$177

Total Monthly$3,699
% of Income33.9%

Renting

Median Rent$1,814
Renter's Insurance$25

Total Monthly$1,839
% of Income16.6%

Living in Morris County, New Jersey

Morris County has a median household income of $130,808 with housing costs that represent 33.9% of income for owners and 16.6% for renters. Housing costs exceed the recommended 30% threshold, suggesting affordability challenges.

The affordability index of 295 (100 = median income perfectly covers median housing costs) gives a quick snapshot. Use our calculator for a comprehensive comparison across counties, including taxes, utilities, healthcare, and commute costs.

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Other Counties in New Jersey

County-level data from U.S. Census Bureau American Community Survey (ACS) 2022 5-Year Estimates. Additional sources: Bureau of Labor Statistics, Bureau of Economic Analysis. Estimates are county-level medians. This is not financial advice.