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Morris Plains borough, NJ

ZIP 07950 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 07950

Median Home Value
$571,300
Median Rent
$2,270
Affordability Snapshot
$157,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,670/mo PITI).

18%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.8x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

21.0 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 07950 in Morris Plains borough, NJ, a household would need roughly $157,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $3,670. That is roughly in line with the local median household income ($148,469). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
75.5%+16% vs US avg
x
Vacancy Rate
1.8%-82% vs US avg
x
Broadband Access
97.4%+12% vs US avg
x
4+ Bedrooms
8.6%-42% vs US avg
x
Built Pre-1939
5.5%-57% vs US avg
x
Built Post-2014
0.4%-94% vs US avg
x
Rent Burden >30%
8.9%-82% vs US avg
x
Mortgage-Free
35.0%-8% vs US avg
x
$571,300
Home Value
$2,270
Rent
1972
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached56.5%
  • 1-unit attached15.4%
  • 2-9 units8.2%
  • 10+ units19.5%
  • Mobile home & other0.5%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$571,300
Median rent$2,270
Owner-occupied75.5%
Vacant1.8%
Price-to-income3.8x
Est. income to buy$157,000