Morris County Real Estate and Livability Trends
Morris County, New Jersey, real estate market trends indicate a robust economic landscape with average taxable income per tax return rising from $116,054.84 in 2013 to $166,560.21 in 2021, likely making it an attractive target for homebuyers and investors. Concurrently, property values surged, with median home values reaching $531,800 by 2022, outpacing both state and national trends. Declining... Read more
Morris County Market Trends
Morris County, New Jersey, has seen median home values rise significantly, hitting $531,800 in 2022, surpassing both state and national trends, which suggests robust demand and strong investor interest. The average residential energy tax credit in the county peaked dramatically at $5,012.50 in 2018, hinting at potential policy-driven changes and opportunities for energy-efficient investments.... Read more
Median Value of Occupied Housing Units in Morris County, New Jersey Over the Last 8 Years
Morris County, New Jersey, has experienced a steady rise in median home values over the past eight years, culminating in a significant jump to $531,800 in 2022. This increase outpaces both the state and national trends, where New Jersey reached $401,400 and the United States hit $179,400 in the same year. This trend may suggest strong investor interest and higher demand for housing in Morris County compared to broader markets. For potential buyers or investors, this could imply robust and appreciating property values in the area, making it a potentially lucrative market to consider.
Residential Energy Tax Credit Per Tax Return in Morris County, NJ Over the Last 9 Years
Over the last nine years in Morris County, New Jersey, the average residential energy tax credit per tax return has shown substantial fluctuation, peaking dramatically in 2018 at $5012.50. This could indicate a potential one-off legislative or policy change. Other years saw a gradual increase until 2017, where the average reached $681.55, followed by notable variability with $1139.08 in 2019 and $971.73 in 2021. Such trends might suggest potential opportunities for those interested in energy-efficient investments, making it pertinent for developers, real estate professionals, and homebuyers to consider the benefits of these tax credits while planning property purchases or renovations.
Average Real Estate Taxes Per Tax Return in Morris County, NJ Over the Last 10 Years
Over the last decade, Morris County, New Jersey has seen a steady increase in average real estate taxes per tax return, climbing from $10,185.26 in 2012 to $13,299.26 in 2021. This upward trend reflects rising property values and possibly increased municipal revenues, which could be significant for property investors and homeowners contemplating long-term residency in the area. Real estate agents and appraisers would take note of this pattern as it potentially indicates a wealthier demographic or improved local services, which gradually elevate the attractiveness of the area for prospective buyers.
Percentage of Farm Returns in Morris County, NJ Over the Last 10 Years
Over the last decade, the percentage of farm tax returns in Morris County, New Jersey has seen a slight downward trend from approximately 0.19% in 2012 to 0.16% in 2021. Farm tax returns indicate the portion of tax filings dedicated to agricultural activities, hinting at a modest yet consistent agricultural presence in the county. For investors or developers, this suggests that while agriculture is not a dominant economic driver, there might still be opportunities in niche farming or agritourism. For residents and potential movers, the agricultural activity hints at a semi-rural ambiance with local produce availability.
Number of Mortgages by Occupancy Type in Morris County, NJ Over the Last 5 Years in Morris County
Morris County in New Jersey has seen fluctuating trends in the number of mortgages across different occupancy types over the past five years. Principal residences consistently dominate the market, with mortgage counts peaking in 2020 at 43,602. However, the numbers for principal residences dropped significantly by 2022. Investment properties and second residences have much lower but varying mortgage counts, with noticeable increases in investment property mortgages in 2021 compared to other years. These shifts in occupancy types are crucial for potential investors and real estate agents to understand market dynamics better and identify emerging opportunities. Appraisers and insurance agents can also glean insights into property value trends and risk assessments based on these patterns.
Economic Outlook
Morris County, New Jersey has displayed noteworthy trends in real estate market indicators over the past decade. The average taxable income per tax return has surged from $116,054.84 in 2013 to $166,560.21 in 2021, hinting at a thriving economic landscape that might attract investors and homebuyers. Correspondingly, state and local income taxes per return have also risen significantly, nearly doubling from $13,530.69 in 2012 to $30,670.78 in 2021, suggesting increased income levels or tax... Read more
Average Taxable Income per Tax Return in Morris County, NJ over the last 9 years
Over the past nine years, Morris County, New Jersey has shown a consistent upward trend in average taxable income per tax return. In 2013, the figure stood at $116,054.84, and it has steadily increased each year, peaking dramatically at $166,560.21 in 2021. This growth suggests a robust economic environment, which could be particularly appealing to potential investors, real estate agents, and those considering relocating to the area. This increase in average income might also imply rising property values, affecting appraisals and insurance rates in the county.
Average State and Local Income Taxes Per Tax Return in Morris County, NJ Over the Last 10 Years
Over the last decade, Morris County, New Jersey has seen a notable increase in average state and local income taxes per tax return, with a jump from around $13,530.69 in 2012 to approximately $30,670.78 in 2021. This trend may suggest a higher overall tax burden or rising incomes in the area, which could be relevant for potential investors, property developers, and those considering relocation. Real estate agents, appraisers, and insurance agents may need to consider these tax levels when assessing property values and living costs.
Average Total Tax Liability Per Tax Return in Morris County, NJ Over the Last 10 Years
In Morris County, New Jersey, the average total tax liability per tax return has shown a general upward trend over the last decade, rising from roughly $25,517.62 in 2012 to a peak of about $37,424.58 in 2021. While there were some fluctuations, such as a slight decrease in 2018 and 2019, the overall increase could suggest a growth in residents' income levels or changes in local tax regulations. This trend is significant for investors, real estate agents, and current residents, as it impacts property valuations and the general cost of living in the area.
Cost of Living in Morris County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,530 | $1,737 | $1,790 | $3,000 | $2,607 |
| 1 adult 4 children | $2,530 | $1,419 | $1,359 | $3,000 | $2,626 |
| 2 adults 3 children | $2,530 | $1,419 | $1,558 | $3,000 | $2,333 |
| 1 adult 3 children | $2,530 | $1,159 | $1,127 | $3,000 | $2,421 |
| 2 adults 2 children | $1,994 | $1,162 | $1,326 | $2,580 | $1,826 |
| 1 adult 2 children | $1,994 | $868 | $895 | $2,580 | $1,876 |
| 2 adults 1 child | $1,994 | $918 | $1,094 | $1,214 | $1,270 |
| 1 adult 1 child | $1,994 | $593 | $663 | $1,214 | $1,251 |
| 2 adults | $1,661 | $738 | $862 | $0 | $896 |
| 1 adult | $1,401 | $402 | $431 | $0 | $780 |
Safety trends & Data
Property crime trends in Morris County, New Jersey over the past five years reveal a mix of fluctuations and steady patterns that could influence real estate decisions. General larceny-theft peaked at 550.00 in 2019 before dropping to 344.00 in 2022, while burglary numbers dipped drastically to 26.00 in 2021 only to rise again to 48.00 in 2022. Motor vehicle theft remained fairly stable, decreasing slightly from 25.00 in 2018 to 13.00 in 2022. Interestingly, arson and embezzlement showed... Read more
Property Crime Trends in Morris County, NJ Over the Last 5 Years
Property crime trends in Morris County, New Jersey over the past five years indicate a mixed landscape for potential investors, real estate agents, and residents. While general larceny-theft has held the highest numbers, peaking at 550.00 in 2019 and seeing a decrease to 344.00 in 2022, other crimes like burglary and fraud have seen fluctuations with burglary numbers beginning at 77.00 in 2018, dropping drastically to 26.00 in 2021, and then rising to 48.00 in 2022. Interestingly, motor vehicle theft remained relatively stable with slight decreases from 25.00 in 2018 to 13.00 in 2022, suggesting targeted improvements in this area. However, arson and embezzlement showed very low figures throughout the period, hinting at less frequent occurrences of these crimes. These variances in property crime statistics can influence property values and insurance premiums, making it essential for stakeholders to stay informed.
Demographics
Morris County, New Jersey, shows a nearly equal gender split among adults, but a slight female majority. The educational landscape reveals a significant portion of the population holds bachelor's or higher degrees, suggesting a well-educated community. Age-wise, there's a higher concentration of residents in the 45 to 64 years range, potentially indicating an aging population. Racially, the county appears predominantly White, with a small but notable Asian community and other racial groups... Read more
Race Distribution in Morris County, New Jersey (2022)
Educational Attainment in Morris County, New Jersey (2022)
Age Distribution in Morris County, New Jersey
Citizen Population in Morris County, New Jersey (2022)
Political Trends & Data
Morris County, New Jersey, appears to be a battleground area based on the 2020 U.S. Presidential Election results, with Democrats potentially taking a narrow lead at approximately 51.4% of the votes and Republicans close behind at about 47.2%. Minor parties such as Libertarians and Greens seemingly hold minimal sway, suggesting voter alignment primarily falls within the two major parties. This competitive voting behavior could indicate significant influence from swing voters, making it an... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Morris County, New Jersey, voting patterns from the 2020 U.S. Presidential Election suggest a tight race between the Democratic and Republican parties, with Democrats possibly holding a slight advantage at roughly 51.4%. Republicans might not be far behind, capturing about 47.2% of the vote. Minor parties, such as the Libertarians and Greens, along with other smaller groups, seem to have a negligible impact, collectively making up only a small fraction of the total votes. This distribution hints at Morris County being a competitive area with potential influence from swing voters.
47.15% of voters voted for the Republican party in the 2020 Presidential Election
51.41% of voters voted for the Democrat party in the 2020 Presidential Election
0.81% of voters voted for the Livertarian party in the 2020 Presidential Election
0.34% of voters voted for the Green party in the 2020 Presidential Election
0.29% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Morris County, New Jersey, has seen its student-to-teacher ratio drop from 12 in 2014 to around 10 in 2023. This implies smaller class sizes, hinting at either increased educational funding or a demographic change. For prospective homebuyers, such low ratios might be attractive, suggesting more personalized education for their children compared to the national average of 14 students per teacher. This trend could be a key selling point for real estate agents and investors,... Read more
Student-to-teacher ratio in Morris County, New Jersey over the last 10 years
Over the past decade, Morris County, New Jersey, has seen a consistent decline in its student-to-teacher ratio, moving from 12 students per teacher in 2014 to roughly 10 in 2023. This trend suggests smaller class sizes, potentially indicating increased educational investment or a demographic shift. For prospective homebuyers, this may signify a more personalized educational experience for their children compared to the national average of 14 students per teacher. Real estate agents and investors might find this an appealing selling point, while appraisers and insurance agents could consider this factor when assessing property values and community desirability. Those looking to build property or move to the area may view these low ratios as indicative of high educational standards and a committed local education system.
