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Real Estate Prices & Overview

Morristown East median real estate price is $765,734, which is more expensive than 81.3% of the neighborhoods in New Jersey and 85.4% of the neighborhoods in the U.S.

The average rental price in Morristown East is currently $4,675, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.0% of the neighborhoods in New Jersey.

Morristown East is a suburban neighborhood (based on population density) located in Morristown, New Jersey.

Morristown East real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Morristown East neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Morristown East are 3.7%, which is lower than one will find in 75.7% of American neighborhoods. Demand for real estate in Morristown East is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Morristown, the Morristown East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 2.1% of America's neighborhoods are wealthier than the Morristown East neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Morristown East also has one of the lowest ratings of child poverty in the nation.

In addition, the rate of college educated adults in the Morristown East neighborhood is a unique characteristic of the neighborhood. 81.7% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 98.3% of all U.S. neighborhoods.

Also, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Morristown East neighborhood: a neighborhood in which more "urban sophisticates" live than 97.2% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for active retirees.

Real Estate

Many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Morristown East neighborhood could be your paradise. With 28.8% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 3.5% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

Diversity

Did you know that the Morristown East neighborhood has more Irish and Italian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 39.5% of this neighborhood's residents have Irish ancestry and 21.8% have Italian ancestry.

Morristown East is also pretty special linguistically. Significantly, 1.3% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 98.3% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Morristown East neighborhood in Morristown are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 97.9% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Morristown East neighborhood, 63.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 22.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.5%), and 2.5% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Morristown East neighborhood is English, spoken by 94.0% of households. Some people also speak Spanish (2.4%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Morristown East neighborhood in Morristown, NJ, residents most commonly identify their ethnicity or ancestry as Irish (39.5%). There are also a number of people of Italian ancestry (21.8%), and residents who report German roots (12.5%), and some of the residents are also of English ancestry (10.1%), along with some Polish ancestry residents (6.8%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Morristown East neighborhood spend between 15 and 30 minutes commuting one-way to work (27.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (68.2%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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