Morristown, MN—55052
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Morristown, MN
As of Oct '25, the median home price in Morristown, MN is $316,000, with a year-over-year change of 5.1%. This indicates that home prices in Morristown, MN are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $316,000 | 5.1% |
| Single Family | $317,000 | 5.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $286,000 | 4.4% |
3 Bed | $311,000 | 5.4% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Morristown, MN
Morristown, MN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Morristown, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Morristown, MN is 83. This is a increase of 211.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $492,000 | -7.0% |
Listing Count | 8 | 10.0% |
| Listings as % of Homes | 0.5% | 10.0% |
Days on Market | 83 | 211.0% |
Demographics — Morristown, MN
As of the latest ACS Survey released in 2023, Morristown, MN has a population of 1,890, which has decreased by -4.9% over the past 5 years. Morristown, MN is a moderately popular place for families, as children make up 18.1% of the population. The area has a poorly educated workforce, with 17.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,890 | -4.9% |
% Under 18 | 18.1% | -15.4% |
% Seniors | 17.6% | 0.6% |
% WFH | 11.4% | 90.0% |
% w/ College Degree | 17.9% | -2.7% |
As of the latest ACS Survey released in 2023, Morristown, MN is a predominantly white area, with 92.9% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Morristown, MN is asian, making up 3.8% of the population. Foreign-born residents account for 4.2% of the population in Morristown, MN, and this percentage has increased by 223.1% 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 | 92.9% | -2.2% |
% Black | 0.2% | -33.3% |
% Hispanic | 2.3% | -34.3% |
% Asian | 3.8% | 850.0% |
% Foreign Born | 4.2% | 223.1% |
Mortgage and Risk — Morristown, MN
Morristown, MN 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, MN
Morristown, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% 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 | N/A | N/A | $850 |
| 2 Bedroom | N/A | N/A | $1,110 |
| 3 Bedroom | N/A | N/A | $1,480 |
| 4 Bedroom | N/A | N/A | $1,830 |
Affordability — Morristown, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $316,000 |
| Median Household Income | $78,400 |