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)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Morris County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Morris County ranks #3,096 of 3,142 counties for affordability (bottom 1%)
Sourced county brief
Renter median income in Morris County reaches $79,949 per year
In Morris County, the median renter-household income is $79,949, as reported in the 2020-2024 ACS 5-Year Estimates. The median gross rent for the county is $1,904 per month, which is $269 higher than the New Jersey unweighted county mean of $1,635. The official ACS B25071 gross rent as a percentage of household income (GRAPI) is 28.0%. This canonical rent-to-income percentage is 3.4 percentage points lower than the New Jersey unweighted county mean of 31.4%. Median selected monthly owner costs are $2,576, which is above the state unweighted county mean of $2,126. The median home value in the county is $582,500, higher than the state unweighted county mean of $430,014. These figures offer a static look at the county's housing landscape during the specified survey period. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Morris County
Affordability Verdict
ACS B25071 estimates median gross rent at 28.0% of renter household income in Morris County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,904 per month; median selected monthly owner costs are $2,576. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $76,160 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The New Jersey unweighted mean of county median rents is $1,635 per month. Morris County's $1,904 median is 16.5% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Morris County
Rent Burden
16.6%
of gross income
Max Housing (28% Rule)
$3,204
per month
Owner Cost Burden
22.5%
of gross income
The median home in Morris County may be a stretch
Median home value is $582,500. Estimated monthly cost: $4,650 vs. your max of $3,204.
Rent Affordability Guide
Income Needed Calculator
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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 (2020-2024). Data is informational only and is not personalized financial advice.
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