The story of this market
The typical home in ZIP 07960 sells for about $824,495, or $425 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 38 days to sell. HUD's fair market rent for a two-bedroom is $2,306 a month.
ZIP 07960 — Morristown
The 07960 housing market remains robust, characterized by high demand and limited inventory, which continues to drive price appreciation. The area's strong economic fundamentals, including high household incomes and proximity to NYC, support a stable and competitive environment for buyers and investors alike.
This ZIP is ideal for affluent professionals and families who value a blend of historic charm, high-quality schools, and convenient rail access to New York City.
Median prices moved up 2.1% year over year.
Homes spend a median of 38 days on market with 2.8 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.9% · poverty 5.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 07960, Morris County NJ
Morristown generally experiences lower crime rates compared to national averages, with property crime being the primary concern in the downtown commercial district.
The area is served by highly-rated public schools, with the Morris School District consistently recognized for strong academic performance and diverse programming.
The region faces moderate risks from heavy rainfall and localized flooding, with standard property insurance coverage typically including provisions for these hazards.
The area benefits from a robust economy anchored by pharmaceutical and professional services firms, with ongoing transit-oriented development near the Morristown train station.
Property taxes are assessed at the municipal, county, and school district levels, with New Jersey maintaining one of the highest effective property tax rates in the nation.
Residents benefit from direct NJ Transit rail access to New York Penn Station, with a typical commute time of approximately 60-75 minutes.
The area features extensive green space including the Morristown Green, nearby national historical parks, and a vibrant downtown district with diverse dining and shopping.
The rental market is highly competitive due to proximity to major employment hubs and limited new supply, keeping vacancy rates low.
The economy is driven by a mix of corporate headquarters, healthcare, and professional services, with significant employment density in the downtown core.
The area is a major transit hub served by NJ Transit's Morris & Essex line, providing direct access to Manhattan and Newark.
Ongoing redevelopment projects focus on increasing residential density and modernizing commercial infrastructure near the transit center.
Parcels are subject to municipal, county, and Morris School District taxes, with no significant MUD/PID districts reported.
Property insurance premiums are stable but reflect regional exposure to storm-related risks common in Northern New Jersey.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Supercharged Entertainment4.819.4 mi
- The Funplex4.37.3 mi
- Dave & Buster's Wayne4.115.1 mi
- Sky Zone Trampoline Park4.212.2 mi
- Dave & Buster's Woodbridge - Middlesex4.218.9 mi
- Prudential Center4.518.1 mi
- Sports Illustrated Stadium4.519.2 mi
- Topgolf Edison4.319.4 mi
- Supercharged Entertainment4.819.4 mi
- New Jersey Performing Arts Center (NJPAC)4.718.2 mi
- Essex County Turtle Back Zoo4.612.1 mi
- The Funplex4.37.3 mi
- Sky Zone Trampoline Park4.212.2 mi
- AMC Rockaway 164.29.3 mi
- Cinemark Watchung and XD4.510.7 mi
- Paterson Great Falls National Historical Park4.519.7 mi
- The Newark Museum of Art4.618 mi
- Thomas Edison National Historical Park4.714.5 mi
- Reeves-Reed Arboretum4.89.2 mi
- Imagine That!!!4.47.2 mi
- Hemlock Falls4.611.8 mi
- Hacklebarney State Park4.711.9 mi
- South Mountain Reservation4.711.7 mi
- Watchung Reservation4.79.6 mi
- Hopatcong State Park4.512.4 mi
- Baltusrol Golf Club4.710.9 mi
- Flanders Valley Golf Course4.110 mi
- Rock Spring Golf Club4.213 mi
- Hamilton Farm Golf Club4.710.3 mi
- Basking Ridge Country Club4.54.4 mi
- The Mall at Short Hills4.58.2 mi
- Alstede Farms4.210.6 mi
- Rockaway Townsquare4.49.1 mi
- Newark Liberty International Airport3.718.6 mi
- Teterboro Airport4.424.1 mi
- Chico Express3.928.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Historic central park hosting community events and seasonal festivals.
Significant Revolutionary War site with extensive hiking trails.
Major regional venue for concerts, theater, and cultural events.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.