Cost of Living in Morris County, New Jersey
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Morris County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Morris County ranks #1,398 of 3,144 counties for affordability (top 44%)
Data Story
About Cost of Living in Morris County, New Jersey
Morris County earners manage premium rents
Morris County's 16.5% rent-to-income ratio—New Jersey's second-best—reflects a median household income of $134,929 paired with a median rent of $1,860. This highest median income in the analysis absorbs above-state-average rents, positioning Morris as a premier county for affluent renters.
Morris ranks second in Jersey affordability
At 16.5%, Morris's rent-to-income ratio trails only Hunterdon (14.7%) among New Jersey counties, well below the state average of 19.1%. With the state's highest median income at $134,929, Morris residents face the lightest housing burden relative to earnings.
Highest income, manageable rents
Morris's median income of $134,929 leads all counties analyzed, exceeding Hunterdon by nearly $5,500, while its $1,860 median rent ranks among the state's highest. For high earners, Morris's expensive rents feel effortless thanks to superior paychecks.
Wealth makes premium housing affordable
Renters pay $1,860 monthly while homeowners face $2,573—the state's highest owner costs—yet the median household income of $134,929 absorbs both comfortably. Housing costs claim just 16.5% of Morris income, leaving significant room for investment, education, and discretionary spending.
Premier county for high earners
Morris County is ideal for households earning $130,000+, offering New Jersey's best school systems, highest incomes, and manageable affordability ratios despite premium housing costs. If you're relocating with strong earning power, Morris delivers the state's most exclusive suburban living at the best relative value.
Cost of Living Advisory: Morris County
Affordability Verdict
Morris County is affordable for renters, with a median gross rent of $1,860/month representing approximately 16.5% of median household income. The rent burden (GRAPI) stands at 27.0%.
Rent vs. Own
The median rent in Morris County is $1,860/month, while owner costs run $2,573/month. Renting saves approximately $713/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $74,400/year. For owner costs at the 28% rule, the required income is roughly $110,271/year. With a median household income of $134,929, most households can comfortably afford rent here. Notably, 27.0% of renter households in Morris County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within New Jersey, Morris County is less affordable than Somerset County by roughly 3% ($1,860/mo vs $1,921/mo).
Affordability Calculator
See how your income compares to housing costs in Morris County
Rent Burden
16.5%
of gross income
Max Housing (28% Rule)
$3,148
per month
Owner Cost Burden
22.9%
of gross income
The median home in Morris County may be a stretch
Median home value is $557,000. Estimated monthly cost: $4,447 vs. your max of $3,148.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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