Real Estate Investing in Morristown, New Jersey (07960)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07960 (Morristown, NJ)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 25.9 — hard to cash-flow at these prices.
What’s happening in Morristown, NJ (07960)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07960 Morristown
ZIP 07960 in Morristown, NJ carries a impressive set of headwinds. Home values near $918K and rents of $2,951/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 07960 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Regionally, 07960 sits on the difficult end of the NJ spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
From a cash-flow lens, 46,178 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 07960 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Morristown:
Property Strategy for 07960
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $362,063 | $2,680 | 5.3% | +4.5% | $362,063 |
| 2BR | $593,518 | $3,240 | 3.9% | +6.9% | $296,759 |
| 3BR | $812,053 | $4,060 | 3.6% | +8.0% | $270,684 |
| 4BR | $1,002,958 | $4,610 | 3.3% | +8.7% | $250,740 |
| 5BR | $1,373,576 | — | — | +9.8% | $274,715 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07960 Compare?
| Metric | 07960 | Morristown | New Jersey |
|---|---|---|---|
| Home Value | $917,503 | $917,503 | $559,826 |
| 5-Year CAGR | 6.5% | 6.5% | 8.4% |
| Avg Rent | $2,951 | $2,951 | - |
| Cap Rate | 2.5% | 2.5% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 07960 (Morristown, NJ). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 07960 (Morristown, NJ)?
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Property managers serving Morris County
Manage rentals here? List your business →Denali Property Management New Jersey specializes in condo management. summary from their website
PMI Prime Property Services offers residential, association, and commercial property management in Northern New Jersey, including marketing, tenant screening, and maintenance. summary from their website
Alliance Property Management LLC provides property management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $917,503 |
| Monthly Rent | $2,951 |
| Price-to-Rent | 25.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +7.8% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +4.8% ▲ |
🏠 Rent Trends
| 1-Year | -0.9% ▼ |
| 3-Year CAGR | +1.0% ▲ |
| 5-Year CAGR | +3.7% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 07960
Population: 46,178
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 07960
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,705 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much should I expect to pay for a home in Morristown, NJ?
Morristown, NJ home values average about $918K. That price point suits investors targeting rentals with $2,951/mo in monthly income.
How deep is the rental pool in Morristown, NJ?
Morristown, NJ draws a predictable base of working renters. Demand at the $2,951/mo rent level is reasonable for standard single-family and small multi rentals.
What is the rental occupancy rate in Morristown, NJ?
Rental vacancy in Morristown, NJ is elevated. Investors should budget normal turnover but not chronic empty units.
Is Morristown, NJ suited for a house hack?
House hacking works a challenging in Morristown, NJ. Rents of $2,951/mo against $918K acquisition make the strategy solid for owner-occupants.
Which real estate strategy fits Morristown, NJ?
For Morristown, NJ, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 07960 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 07960 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 07960 ranks in New York-Newark-Jersey City, NY-NJ-PA
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