Morris
county · 15 metrics · 5y change · report
Home value index, single-family
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| Period | Value | Source | Matched by |
|---|---|---|---|
| 2026-06-01 | $717,390 | zillow_zhvi | fips |
| 2026-05-01 | $715,753 | zillow_zhvi | fips |
| 2026-04-01 | $713,578 | zillow_zhvi | fips |
| 2026-03-01 | $711,235 | zillow_zhvi | fips |
| 2026-02-01 | $708,047 | zillow_zhvi | fips |
| 2026-01-01 | $705,213 | zillow_zhvi | fips |
| 2025-12-01 | $702,425 | zillow_zhvi | fips |
| 2025-11-01 | $699,309 | zillow_zhvi | fips |
| 2025-10-01 | $696,542 | zillow_zhvi | fips |
| 2025-09-01 | $694,557 | zillow_zhvi | fips |
| 2025-08-01 | $693,588 | zillow_zhvi | fips |
| 2025-07-01 | $693,761 | zillow_zhvi | fips |
| 2025-06-01 | $693,085 | zillow_zhvi | fips |
| 2025-05-01 | $691,855 | zillow_zhvi | fips |
| 2025-04-01 | $689,772 | zillow_zhvi | fips |
| 2025-03-01 | $687,864 | zillow_zhvi | fips |
| 2025-02-01 | $686,324 | zillow_zhvi | fips |
| 2025-01-01 | $684,857 | zillow_zhvi | fips |
| 2024-12-01 | $683,360 | zillow_zhvi | fips |
| 2024-11-01 | $681,766 | zillow_zhvi | fips |
| 2024-10-01 | $678,915 | zillow_zhvi | fips |
| 2024-09-01 | $675,494 | zillow_zhvi | fips |
| 2024-08-01 | $671,823 | zillow_zhvi | fips |
| 2024-07-01 | $668,737 | zillow_zhvi | fips |
Observed rent index, all homes
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| Period | Value | Source | Matched by |
|---|---|---|---|
| 2026-06-01 | $2,874 | zillow_zori | fips |
| 2026-05-01 | $2,850 | zillow_zori | fips |
| 2026-04-01 | $2,835 | zillow_zori | fips |
| 2026-03-01 | $2,823 | zillow_zori | fips |
| 2026-02-01 | $2,824 | zillow_zori | fips |
| 2026-01-01 | $2,816 | zillow_zori | fips |
| 2025-12-01 | $2,812 | zillow_zori | fips |
| 2025-11-01 | $2,814 | zillow_zori | fips |
| 2025-10-01 | $2,820 | zillow_zori | fips |
| 2025-09-01 | $2,829 | zillow_zori | fips |
| 2025-08-01 | $2,837 | zillow_zori | fips |
| 2025-07-01 | $2,831 | zillow_zori | fips |
| 2025-06-01 | $2,833 | zillow_zori | fips |
| 2025-05-01 | $2,818 | zillow_zori | fips |
| 2025-04-01 | $2,808 | zillow_zori | fips |
| 2025-03-01 | $2,789 | zillow_zori | fips |
| 2025-02-01 | $2,753 | zillow_zori | fips |
| 2025-01-01 | $2,746 | zillow_zori | fips |
| 2024-12-01 | $2,737 | zillow_zori | fips |
| 2024-11-01 | $2,755 | zillow_zori | fips |
| 2024-10-01 | $2,729 | zillow_zori | fips |
| 2024-09-01 | $2,723 | zillow_zori | fips |
| 2024-08-01 | $2,754 | zillow_zori | fips |
| 2024-07-01 | $2,765 | zillow_zori | fips |
Median household income
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| Period | Value | Source | Matched by |
|---|---|---|---|
| 2019-01-01 | $134,929 | census_acs | fips |
| 2018-01-01 | $130,808 | census_acs | fips |
| 2017-01-01 | $123,727 | census_acs | fips |
| 2016-01-01 | $117,298 | census_acs | fips |
| 2015-01-01 | $115,527 | census_acs | fips |
Current values
Each metric’s most recent reading, ranked against peers by value rather than by change. The MOD-IV assessment aggregates appear only here: they are a single published snapshot, and a change needs two observations.
| Metric | Value | Rank | As of | Source |
|---|---|---|---|---|
| Median gross rent | $1,860 | 3 / 21 | 2023-12-31 | census_acs |
| Median household income | $134,929 | 3 / 21 | 2023-12-31 | census_acs |
| Median owner-occupied home value | $557,000 | 3 / 21 | 2023-12-31 | census_acs |
| Total population | 510,375 | 10 / 21 | 2023-12-31 | census_acs |
| Renters paying over 30% of income on housing | 0.42 | 2 / 21 | 2023-12-31 | census_acs |
| Area median income (HUD) | $130,300 | 6 / 21 | 2024-12-31 | hud |
| Low-income limit, 80% AMI, 4-person household | $97,800 | 5 / 21 | 2024-12-31 | hud |
| Net migration, tax returns | -752 | 13 / 21 | 2022-12-31 | irs_migration |
| Residential units permitted | 2,357 | 6 / 21 | 2024-12-31 | census_permits |
| Home value to area median income | 5.10 | 17 / 21 | 2024-12-31 | hip_derived |
| Home value to household income | 4.52 | 12 / 21 | 2023-12-31 | hip_derived |
| Annual rent to household income | 0.23 | 6 / 18 | 2023-12-31 | hip_derived |
| Unemployment rate | 3.7% | 3 / 21 | 2025-12-31 | bls |
| Home value index, single-family | $717,390 | 4 / 21 | 2026-06-30 | zillow_zhvi |
| Observed rent index, all homes | $2,874 | 4 / 19 | 2026-06-30 | zillow_zori |
Interpretation
written by Gemma 4 E4B · ollamaThe underlying figures have changed since this was written. Treat it as out of date until it is regenerated.
The housing market in Morris County has seen substantial increases in both housing costs and income over the measured periods. Observed rent index, all homes, rose by +29.0% and ranks 16 of 17, indicating a challenging rental environment. This trend is mirrored by the median gross rent, which increased by +21.3%, and the median owner-occupied home value, which rose by +22.1%. Despite these sharp increases in costs, the area median income (HUD) rose by +22.9%, and the median household income increased by +16.8%. Despite the high cost increases, the region ranks 3 of 21 for Home value to area median income, suggesting a relatively favorable position compared to its peers.
Underlying market dynamics show strong growth in housing supply and population. Residential units permitted saw a significant increase of +52.9%, and the total population grew by +3.4%. Furthermore, the unemployment rate dropped by -31.5%. While the median household income and area median income both show strong growth, it is important to note that the American Community Survey (ACS) 5-year vintages overlap by four years, meaning consecutive estimates are not independent measurements.
When interpreting these figures, several caveats apply. The Observed rent index, all homes, is based on a thinner base and ranks against a smaller cohort than the home-value index. Additionally, the platform computes affordability ratios from two published series, and the monthly value or rent series is averaged over the survey year to match the annual income denominator. Overall, the data suggests a rapidly appreciating market with strong underlying growth in both permitted units and population, even as housing costs continue to rise sharply.
Generated by a local language model from this region's analysis packet. It is interpretation of computed metrics, not a measurement, and not advice.
Caveats
- ACS 5-year vintages overlap by four years, so consecutive estimates are not independent measurements and short windows understate the real separation.
- Affordability ratios are computed by this platform from two published series, not published by either source. The monthly value or rent series is averaged over the survey year to match the annual income denominator.
- Zillow's rent index begins in 2015 and covers far fewer places than its home-value index, so any rent figure rests on a thinner base — and ranks against a smaller cohort — than a value figure.
- HUD publishes income limits per county, so every AMI-based figure here is a county figure. HUD does not sanction allocating one down to a municipality.