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Morris Plains

Learn about the people, housing, costs and businesses in Morris Plains, New Jersey

Median Home$643,150
Median Rent$2,741/month
Population6,315
Leading IndustriesArts, Food & Hospitality · Healthcare · Public Administration15% arts, food & hospitality
Home Value Growth⬆⬆+20.1% over 2 years
Young Adults28% of residentsnear the national average
Homeowners72% of occupied units
NotableHighly Educated39% bachelor's · 27% graduate · top 1% nationally
NotableTransit91/100 · excellent transit access
Morris Plains
NJ

Frequently Asked Questions

What are today's mortgage rates in Morris Plains?

As of today, the 30-year fixed mortgage rate for Morris Plains is approximately 6.814% (6.847% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Morris Plains?

The median home value in Morris Plains is $643k. The median monthly rent is $2,741. Annual property taxes average $10k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Morris Plains?

Home values in Morris Plains have increased 20.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Morris Plains?

Based on a typical all-in ownership cost of $2,857/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $122k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Morris Plains is $163k/year.

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What industries drive the economy in Morris Plains?

The largest employment sectors in Morris Plains are public administration (31%) and healthcare (17%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.