Morris, NJ real estate: the numbers, explained.

Home values in Morris

The NJ Division of Taxation’s 2026 Average Residential Statistics show an average residential sale price of $965,304 across 97 sales used in that report.

The Census Bureau’s survey puts the median value of owner-occupied homes, as estimated by owners, at $765,100 (2020–2024 average), compared with a Morris County town median of $592,600.

Morris property taxes

Morris’s 2025 general tax rate was 1.968 per $100 of assessed value, and its effective tax rate was 1.547%, lower than the Morris County town median of 2.004% and lower than the statewide municipal median of 2.141%. That ranks it #7 lowest of 39 Morris County municipalities by effective rate. The average residential tax bill was $11,247 on an average assessment of $571,510 across 7,988 residential properties.

Applied to the average sale price of $965,304, the effective rate implies roughly $14,933 a year ($1,244 a month) in property tax. The Division publishes the effective rate for comparing towns, not for computing a specific bill, so use it as a ballpark.

What it costs to own vs. rent

For a $965,304 home with 20% down ($193,061) and a 30-year fixed loan at 7.18%, Freddie Mac’s national average for the week of November 5, 2026, principal and interest come to about $5,231 a month. With estimated property tax that’s about $6,476, before insurance, any HOA fee and utilities. For comparison, the Census median gross rent in Morris is $2,437.

Run my numbers for MorrisRent vs buy here

Who lives in Morris

About 23,424 people live in Morris. 85.9% of occupied homes are owner-occupied (county town median 81.9%), so the market is mostly owner-occupied single homes. 72% of housing units are single-family detached houses. The median resident age is 44.6, and 73.6% of adults 25 and older hold a bachelor’s degree or higher. Median household income is $204,951, higher than the county town median of $154,923.

The median home in Morris was built in 1968. Much of the housing predates 1978, so buyers should plan for older-home checks: lead-based paint disclosure, an oil-tank sweep if the house ever had oil heat, knob-and-tube or older electrical, galvanized plumbing, and a sewer-line scope. See the NJ inspection checklist.

Commuting from Morris

Workers in Morris average 29.2 minutes each way (those who don’t work from home), about the same as the Morris County town median of 29.6 minutes. 4.6% commute by public transportation, so most commuters drive and 27.3% work from home.

Schools

I don’t republish unofficial school scores. For Morris, start with the New Jersey Department of Education’s School Performance Reports, then confirm the exact school assignment for any address with the district, since some NJ towns send students to regional or neighboring high schools. See how to research NJ schools.

Downtown, food and things to do

The best way to judge Morris’s restaurants, parks and weekend life is in person. Visit on a weeknight and a Saturday morning, check the town recreation calendar and walk the blocks you’d live on. My town scouting checklist shows what to look for.

My take for buyers, sellers and renters

• Buyers: a below-county-median effective tax rate stretches your budget further here than in many Morris towns. Compare with the town comparison tool.
• Sellers: with fewer public market indexes for Morris, a comparable-sales analysis matters more. Get a free home value.

Nearby towns at a similar price