Rent in Morristown, NJ
Across Morristown's 3 ZIP codes, a 2-bedroom typically rents for about $2,233 a month, with figures from $2,233–$2,609. The highest typical rent is in 07960 ($2,609) and the lowest in 07962 ($2,233). 1 ZIP has ZIP-level figures from HUD or Census; the other 2 use the county Fair Market Rent. Owner-occupied homes in Morris County pay about 1.72% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $1,637 | $1,637–$1,721 | 3 |
| 1 bed | $1,850 | $1,850–$2,096 | 3 |
| 2 beds | $2,233 | $2,233–$2,609 | 3 |
| 3 beds | $2,785 | $2,576–$2,785 | 3 |
| 4 beds | $3,188 | $3,188–$3,197 | 3 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Morristown ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Morristown, NJ?
- About $2,233 a month: the median of the typical rents in 3 ZIP codes, which range from $2,233–$2,609. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Morristown, NJ?
- About $1,850 a month: the median of the typical rents in 3 ZIP codes, which range from $1,850–$2,096. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Morristown, NJ?
- About $2,785 a month: the median of the typical rents in 3 ZIP codes, which range from $2,576–$2,785. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Morristown, NJ?
- About $1,637 a month: the median of the typical rents in 3 ZIP codes, which range from $1,637–$1,721. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Morristown, NJ?
- About $3,188 a month: the median of the typical rents in 3 ZIP codes, which range from $3,188–$3,197. Figures are gross rent (rent plus tenant-paid utilities).
- Which Morristown ZIP code has the highest rent?
- For a 2-bedroom, 07960 has the highest typical rent at $2,609 a month, and 07962 the lowest at $2,233.
- What is the property tax rate in Morristown, NJ?
- Owner-occupied homes in Morris County pay a typical 1.72% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Morristown rent figures come from?
- Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).