Land and home values in Morristown, NJ
Morristown is a town in Morris County, New Jersey, home to about 20,453 people. Residential land runs about $38.20 per sq ft, the typical home is worth about $676,000, and a 2-bedroom rents for about $3,310 a month, as of October 12, 2026.
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| Land: residential | $38.20 | per sq ft |
| Land: residential | $1.66M | per acre |
| Land: quarter-acre lot | $415,998 | 10,890 sq ft |
| Home: typical (median) | $676,000 | value |
| Home: entry-level | $518,000 | lower quartile |
| Home: upper-end | $829,000 | upper quartile |
| Build new | $179 | per sq ft, no land |
| Rent: 1-bedroom | $2,740 | per month |
| Rent: 2-bedroom | $3,310 | per month |
| Rent: 3-bedroom | $4,150 | per month |
| Rent: 4-bedroom | $4,710 | per month |
| Gross yield, 2-bed | 5.9% | a year |
Questions people ask
How much is land worth in Morristown, NJ?
Residential land in Morristown, NJ is about $38.20 per square foot, or $1.66M an acre, as of October 2026. A quarter-acre lot (10,890 sq ft) is about $415,998. Smaller lots sell for more per square foot and large tracts for less.
What is the typical home value in Morristown, NJ?
The typical (median) home in Morristown, NJ is worth about $676,000, with entry-level homes around $518,000 and upper-end homes around $829,000, as of October 2026.
How much is rent in Morristown, NJ?
A 2-bedroom rents for about $3,310 a month in Morristown, NJ, a 1-bedroom about $2,740 and a 3-bedroom about $4,150 (gross rent including utilities, HUD Fair Market Rent basis).
Is this an appraisal?
No. Indicative values for screening, budgeting and negotiation, not an appraisal. For lending, a tax appeal or legal use, hire a state-licensed or certified appraiser.