Morristown, NJ Rental Market Trends
Last updated: April 22, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Morristown is $2,910, a 0.73% increase compared to the previous year, when the average rent was $2,889.
One-bedroom apartments provide 777 square feet for $2,574, balancing privacy and affordability.
Two-beedroom units at $3,355 offer 1,044 square feet, perfect for roommates or small families.
Average rent in Morristown, NJ
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $2,910 | 896 sq. ft. |
| Studio | n/a | n/a |
| 1 Bed | $2,574 | 777 sq. ft. |
| 2 Beds | $3,355 | 1,044 sq. ft. |
| 3 Beds | n/a | n/a |
Morristown, NJ rent trends
Rental prices in Morristown, NJ have increased by 0.73% over the past year. The average rent moved from $2,889 to $2,910.
What's the typical rent budget in Morristown, NJ?
The largest share of rentals in Morristown, NJ (43%) fall between $2,501-$3,000 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Morristown, NJ?
5,694 or 64% of the households in Morristown, NJ are renter-occupied while 3,213 or 36% are owner-occupied.
How Morristown Compares to Other Cities
| City | Average Rent |
|---|---|
| Morristown | $2,910 |
| Jersey City | $3,687 |
| Jersey Shore | $2,159 |
| Newark | $1,729 |
| East Orange | $1,899 |
| Bayonne | $2,576 |
| Paterson | $1,734 |
| Elizabeth | $1,868 |
| Hoboken | $4,492 |
| Camden | $1,453 |
| Rahway | $2,445 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Morristown apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.