New York-Newark-Jersey City, NY-NJ-PA · New Jersey
Morris County
510,375 residents1,581 permits TTM$134,929 median HHI50 ZIP codesUpdated April 28, 2026
Investor first look
Median home value
$557,000
ACS 5-Year
Cap rate proxy
5.0%
FMR × 0.65 ÷ Home Value
Rent-to-income
16.5%
HUD FMR ÷ ACS HHI
Net migration
+2.39%
IRS SOI
Permits (TTM)
1,581
Census BPS
Climate risk
92.9
FEMA NRI (0–100)
ZIP code breakdown50 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 07857 | — | — | — | 4.7% | 20.0% |
| 07803 | — | — | — | 4.5% | 20.0% |
| 07885 | — | — | — | 4.5% | 20.0% |
| 07847 | — | — | — | 4.5% | 20.0% |
| 07828 | — | — | — | 4.6% | 9.3% |
Ranked by composite score
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Demographics
Owner-occupied
73.9%
Census ACS
Vacancy rate
3.4%
Census ACS
Bachelor's degree +
57.2%
Census ACS
Rent burdened
42.3%
Census ACS (>30% income)
Median age
42.7
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 28, 2026