Cost of Living in Morristown

Morristown, is a vibrant town with a rich history and a variety of amenities that contribute to its cost of living. Housing prices in Morristown can vary widely depending on the location, size, and condition of the property. As of my knowledge cutoff in early 2023, the median home price in Morristown for a 3-bedroom home can range from approximately $400,000 to $600,000, while a 4-bedroom home may cost between $500,000 and $800,000 or more, depending on the neighborhood and the home's features. The real estate market is dynamic, and prices can fluctuate based on market conditions and inventory levels.

Apartment rentals in Morristown also offer a range of options, with 1-bedroom apartments typically starting around $1,800 to $2,500 per month. Larger 2-bedroom apartments can range from $2,500 to $3,500 or more per month. For those interested in purchasing an apartment or a condo, prices can start around $300,000 and go up significantly based on the location, size, and amenities offered within the complex.

When it comes to dining out, Morristown boasts a diverse array of restaurants that cater to various tastes and budgets. A meal at an inexpensive restaurant might cost around $15 to $25 per person, while a three-course meal at a mid-range restaurant could be priced between $50 and $70 per person. For those who enjoy fine dining, there are upscale establishments where the cost per person can exceed $100, especially when including wine and dessert.

Utilities in Morristown, such as electricity, heating, cooling, water, and garbage, can average around $150 to $250 per month for a standard apartment, but this can vary based on usage and the size of the living space. Internet services typically add an additional $60 to $100 per month, depending on the speed and service provider.

Private school tuition in Morristown can be a significant expense for families. Preschool costs can range from $1,000 to $2,000 per month. Elementary and middle schools can have annual tuition rates that range from $10,000 to $25,000 or more, while private high schools can cost between $15,000 and $30,000 annually. These costs can vary greatly depending on the institution's reputation, facilities, and the educational programs offered.