What is the cost of living in Morristown, NJ?
According to the most recent data on the cost of living, Morristown has an overall cost of living index of 149, which is 1.5x higher than the national index of 100.
Compared to New Jersey, Morristown has a cost of living index that's 1.2x higher than New Jersey's index of 125.
The standard of living in Morristown ranks as #195 most affordable out of the 262 places we measured in New Jersey. By definition, that implies Morristown ranks as the #67 most expensive place in the Garden State.
For more reading on life in Morristown, check out:
Morristown Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Morristown. Here is how it fares on each of the criteria:
The Services index in Morristown is 106.
The Groceries index in Morristown is 110.
The Health index in Morristown is 247.
The Housing index in Morristown is 111.
The Transportation index in Morristown is 110.
The Utilities index in Morristown is 106.
| Living Expense | Morristown | New Jersey | National Average |
|---|---|---|---|
| Overall | 149 | 125 | 100 |
| Services | 106 | 107 | 100 |
| Groceries | 110 | 113 | 100 |
| Health | 247 | 155 | 100 |
| Housing | 111 | 116 | 100 |
| Transportation | 110 | 112 | 100 |
| Utilities | 106 | 113 | 100 |
Morristown Cost Of Living Compared To New Jersey Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around New Jersey, check out:
Protect your home budget Compare home warranties in Morristown Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Morristown, NJ Housing Cost Breakdown
Housing swings affordability the most between places in New Jersey, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Morristown is $887,261.
The Median Rent in Morristown is $2,274.
The Median Income in Morristown is $121,340.
The Home Value To Income in Morristown is 7.3x.
The Rent To Monthly Income in Morristown is 0.22x.
| Statistic | Morristown | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $887,261 | $569,411 | $332,700 |
| Median Rent | $2,274 | $1,720 | $1,413 |
| Median Income | $121,340 | $103,556 | $80,734 |
| Home Value To Income | 7.3x | 5.5x | 4.1x |
| Rent To Monthly Income | 0.22x | 0.2x | 0.21x |
Morristown, NJ Costs By Category
Detailed Morristown Services costs vs. New Jersey
| Item | Morristown | New Jersey |
|---|---|---|
| Shampoo | $1.44 | $1.28 |
| Movie | $14.15 | $12.13 |
| Bowling | $25.03 | $18 |
| Haircut | $29.17 | $24.26 |
| Beauty Salon | $40.36 | $45.56 |
Detailed Morristown Groceries costs vs. New Jersey
| Item | Morristown | New Jersey |
|---|---|---|
| Ground Beef | $5.64 | $5.84 |
| Fried Chicken | $1.55 | $1.57 |
| Milk | $4.74 | $4.67 |
| Potatoes | $5.21 | $4.93 |
| Pizza | $11.49 | $12.09 |
| Beer | $11.66 | $10.41 |
| Toothpaste | $3.66 | $3.7 |
Detailed Morristown Health costs vs. New Jersey
| Item | Morristown | New Jersey |
|---|---|---|
| Optometrist | $105.11 | $125.68 |
| Doctor | $117.94 | $135.78 |
| Dentist | $121.22 | $113.29 |
Detailed Morristown Transportation costs vs. New Jersey
| Item | Morristown | New Jersey |
|---|---|---|
| Gasoline | $3.45 | $3.46 |
| Tire Balancing | $77.33 | $59.92 |
Detailed Morristown Utilities costs vs. New Jersey
| Item | Morristown | New Jersey |
|---|---|---|
| All Electricity | $230.68 | $193.99 |
| Phone | $186.61 | $192.25 |
