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Morristown

Learn about the people, housing, costs and businesses in Morristown, Indiana

Median Home$221,800
Median Rent$998/month
Population1,073
Leading IndustriesHealthcare · Arts, Food & Hospitality · Professional Services29% healthcare
Home Value Growth⬆⬆+18.2% over 2 years
Young Adults45% of residentstop 2% nationally
Homeowners77% of occupied units
NotableHighly Educated32% bachelor's · 29% graduate · top 6% nationally
NotableHigh Incomes$90k/year · top 25% nationally
Morristown
IN

Frequently Asked Questions

What are today's mortgage rates in Morristown?

As of today, the 30-year fixed mortgage rate for Morristown is approximately 6.833% (6.867% 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 Morristown?

The median home value in Morristown is $222k. The median monthly rent is $998. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Morristown?

Home values in Morristown have increased 18.2% 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 Morristown?

Based on a typical all-in ownership cost of $1,034/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $44k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Morristown is $90k/year.

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What industries drive the economy in Morristown?

The largest employment sectors in Morristown are healthcare (29%) and arts, food, and hospitality (26%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.