Much like its surrounding areas, it's significantly less expensive compared to the rest of the nation. Compared to the city of Minneapolis, it's substantially less expensive.
Home prices
The cost of the median home in Morristown is $132,500. It is about $2,760 (2%) lower compared to other places in this area.It is roughly $85,000 (39%) lower compared to the rest of the nation, and in comparison to the city of Minneapolis is approximately $119,100 (47%) lower.
Rents
Morristown's median rent is $975 a month. In comparison to the surrounding areas this is roughly $209 (27%) higher.Compared to the US as a whole it is about $87 (8%) lower, and in comparison to the city of Minneapolis it is about $52 (5%) lower.
Nearby places
Waterville
Waterville is roughly 5 miles west of Morristown. The housing prices there are similar. The median home cost in Waterville is $133,300, which is very similar to Morristown. The rent there is significantly less expensive. The median monthly rent in Waterville is $732, which works out to $243 (33%) lower than Morristown.
Kilkenny
Kilkenny is roughly 7 miles northwest from Morristown. The real estate prices there are a lot less expensive. Kilkenny's median home price is $100,000, which comes out to $32,500 (32%) lower than Morristown. Rents there are somewhat less expensive. In Kilkenny the median rent is $920 a month, which comes out to $55 (5%) lower than Morristown.
Faribault
Faribault is roughly 8 miles northeast of Morristown. Its housing prices are a little more expensive. The median home in Faribault is valued at $153,500, which comes out to $21,000 (13%) higher than Morristown. Rent there is a bit less expensive. The median rent in Faribault is $822 a month, which works out to $153 (18%) lower than Morristown.
Medford
Medford is roughly 9 miles southeast from Morristown. Its real estate prices are a bit more expensive. The median home in Medford is valued at $162,200, which comes out to $29,700 (18%) higher than Morristown. Rent there is a lot less expensive. Medford's median rent is $700 a month, which comes out to $275 (39%) lower than Morristown.
Waseca
Waseca is approximately 9 miles south of Morristown. The real estate prices there are similar. Waseca's median home price is $127,300, which comes out to $5,200 (4%) lower than Morristown. The rent there is significantly less expensive. The median monthly rent in Waseca is $654, which works out to $321 (49%) lower than Morristown.
