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Morris County, NJ

RANK #278 / 996  ·  POP 508,816  ·  NJ

PROJECTED GROWTH: +1.7%

Morris County is growing steadily, with strong fundamentals across jobs, wages, and population.

[01] Why Morris County?

Morris County, New Jersey, is distinguished by its Revolutionary War history, with Morristown serving as General George Washington's military headquarters during two winters. Located approximately 30 miles northwest of New York City, the county offers a suburban lifestyle with convenient access to metropolitan areas. Commuters utilize NJ Transit rail lines like the Morris & Essex Line for direct service to New York Penn Station. The landscape features rolling hills, valleys, and lakes, with extensive parkland, including the Great Swamp National Wildlife Refuge and Lewis Morris Park, providing abundant outdoor recreation opportunities.

Life in Morris County is characterized by highly-rated public schools and a variety of housing options. The county attracts families and professionals, many of whom commute to nearby cities. The economy is driven by a corporate presence, including pharmaceuticals and advanced manufacturing, with ongoing redevelopment of commercial sites into mixed-use properties. There is also significant investment in industrial and logistics sectors, with new warehouse projects contributing to economic activity.

[02] Market Snapshot

Housing Ratio
4.5x

Below national median (4.7x)

GDP Growth
+1.2%

Well below national median

Home Prices
+3.2%

Outpacing national median

Climate & Terrain
1.3

Moderate climate & terrain

Price/Rent
16x

Above national median (13x)

Housing is fairly valued at 4.5x relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Morris County U.S. National

The Numbers

DEMOGRAPHICS
Population
508,816
+0.09% YoY
Median Household Income
$130,808
Median Home Value
$531,800
+3.17% 12mo
Median Rent
$1,814
Average Annual Pay
$101,208
+1.8% YoY
Employment
298,824
+0.7% YoY
Income-to-Home-Value
0.246
Near national average
Migration Inflow
3.1%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$625,000
Days on Market
33
Active market
Months of Supply
2.0
Seller's market
Sale-to-List Ratio
101.5%
Homes selling above asking
Sold Above List
50.4%
Listings w/ Price Drops
9.2%
Building Permits (2024)
2,055
Single-Family Permits
864

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$218M
TOTAL
PROJECT AMOUNT STATUS
Riverdale Quarry Redevelopment (Warehouse Space)
Undisclosed
$120M Proposed
Morris County Capital Spending Plan (2026)
Morris County Board of County Commissioners
$37M Planned
Morris County Capital Spending Plan (2025)
Morris County Board of County Commissioners
$35M Planned
Mount Olive Solar Farm
CEP Renewables LLC / NJR Clean Energy Ventures Corporation
$26M Operating

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +1.2% 21 percentile
Population Growth +0.1% 33 percentile
Income Growth +5.7% 7 percentile
Vacancy Rate 0.8% 79 percentile
Home Price Change +3.2% 74 percentile
Rent Growth +1.9% 33 percentile
Price/Rent 16x 29 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Morris County, NJ a good place to move to?

Morris County has a Boom Town Index score of 72/100, ranking #278 among 996 U.S. counties. With job growth at +0.7% and a median household income of $130,808, it's an above-average county on economic indicators.

Is Morris County affordable?

The median home value in Morris County is $531,800 with median rent at $1,814/month. The income-to-home-value ratio is 0.246, which is less affordable than the national average.

Is Morris County growing or shrinking?

Population growth: +0.1% year-over-year. Job growth: +0.7%. Home values changed +3.2% in the past 12 months.

Are people moving to Morris County?

Yes — 3.1% of Morris County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Jefferson County, WI 82 Chippewa County, WI 82 Cass County, MO 82 Cumberland County, NJ 82 Cuyahoga County, OH 82 Clinton County, NY 82 York County, PA 82 Etowah County, AL 82