US5.com
  1. Home
  2. States
  3. New Jersey
  4. ZIP 07960
  5. Housing & Real Estate
Morristown town, NJ

ZIP 07960 — 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 07960

Median Home Value
$701,100
Median Rent
$2,104
Affordability Snapshot
$193,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$4,504/mo PITI).

17%
Rent-to-Income Ratio

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

4.7x
Home Price-to-Income Ratio

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

27.8 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 07960 in Morristown town, NJ, a household would need roughly $193,000 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 $4,504. That is about 29% above the local median household income ($149,462), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
61.9%-5% vs US avg
x
Vacancy Rate
3.4%-67% vs US avg
x
Broadband Access
95.5%+10% vs US avg
x
4+ Bedrooms
9.6%-35% vs US avg
x
Built Pre-1939
4.2%-67% vs US avg
x
Built Post-2014
0.5%-93% vs US avg
x
Rent Burden >30%
17.4%-65% vs US avg
x
Mortgage-Free
35.8%-6% vs US avg
x
$701,100
Home Value
$2,104
Rent
1969
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

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

  • 1-unit detached50.2%
  • 1-unit attached10.6%
  • 2-9 units15.2%
  • 10+ units23.6%
  • Mobile home & other0.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$701,100
Median rent$2,104
Owner-occupied61.9%
Vacant3.4%
Price-to-income4.7x
Est. income to buy$193,000