Morristown, AZ—85342
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Morristown, AZ
As of Oct '25, the median home price in Morristown, AZ is $393,000, with a year-over-year change of -0.5%. This indicates that home prices in Morristown, AZ are flat. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $393,000 | -0.5% |
| Single Family | $390,000 | -0.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $339,000 | -3.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Morristown, AZ
Morristown, AZ lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,380 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $750 | $750 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,650 | $1,700 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Morristown, AZ
As of Oct '25, Realtor.com reports that the median days on market for a home in Morristown, AZ is 45. This is a decrease of -38.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $644,000 | 4.0% |
Listing Count | 20 | 35.0% |
| Listings as % of Homes | 1.7% | 35.0% |
Days on Market | 45 | -38.0% |
Demographics — Morristown, AZ
As of the latest ACS Survey released in 2023, Morristown, AZ has a population of 1,640, which has increased by 18.8% over the past 5 years. Morristown, AZ is a less popular place for families, as children make up 13.9% of the population. The area has a poorly educated workforce, with 23.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,640 | 18.8% |
% Under 18 | 13.9% | 117.2% |
% Seniors | 30.2% | -10.4% |
% WFH | 21.0% | 121.1% |
% w/ College Degree | 23.9% | 89.7% |
As of the latest ACS Survey released in 2023, Morristown, AZ is a predominantly white area, with 83.4% of the population identifying as white. The white population has shrunk by 10.0% in the last 5 years. The second most common race or ethnicity in Morristown, AZ is hispanic, making up 11.8% of the population. Foreign-born residents account for 6.3% of the population in Morristown, AZ, and this percentage has increased by 8.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 83.4% | -10.0% |
% Black | 1.0% | ∞% |
% Hispanic | 11.8% | 156.5% |
% Asian | 0.4% | -42.9% |
% Foreign Born | 6.3% | 8.6% |
Mortgage and Risk — Morristown, AZ
Morristown, AZ lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Morristown, AZ
Morristown, AZ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $690 | $750 | $1,440 |
| 2 Bedroom | N/A | N/A | $1,690 |
| 3 Bedroom | $640 | $1,650 | $2,290 |
| 4 Bedroom | N/A | N/A | $2,610 |
Affordability — Morristown, AZ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.8 |
| Median Home Price | $393,000 |
| Median Household Income | $54,000 |