Morristown South median real estate price is $1,053,873, which is more expensive than 90.6% of the neighborhoods in New Jersey and 91.7% of the neighborhoods in the U.S.
The average rental price in Morristown South is currently $5,630, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.8% of the neighborhoods in New Jersey.
Morristown South is a suburban neighborhood (based on population density) located in Morristown, New Jersey.
Morristown South real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Morristown South neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Morristown South, the current vacancy rate is 2.8%, which is a lower rate of vacancies than 81.5% of all neighborhoods in the U.S. This means that the housing supply in Morristown South is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
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 0.9% of America's neighborhoods are wealthier than the Morristown South 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 South also has one of the lowest ratings of child poverty in the nation.
In addition, the rate of college educated adults in the Morristown South neighborhood is a unique characteristic of the neighborhood. 82.4% 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 98.5% of all U.S. neighborhoods.
Also, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Morristown South neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 97.6% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Morristown South neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
Modes of Transportation
In the Morristown South neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 33.2% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.2% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Occupations
The Morristown South neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.8% of the neighborhoods in America. In fact, 75.1% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Real Estate
One way that the Morristown South neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.2% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
In addition, real estate in the Morristown South neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 95.6% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.
Diversity
Did you know that the Morristown South neighborhood has more Russian and Italian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.7% of this neighborhood's residents have Russian ancestry and 21.2% have Italian ancestry.
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 South 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 99.1% 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.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Morristown South neighborhood, 75.1% 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 14.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.7%), and 3.5% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Morristown South neighborhood is English, spoken by 88.0% of households. Some people also speak Spanish (5.5%).
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Morristown South neighborhood in Morristown, NJ, residents most commonly identify their ethnicity or ancestry as Irish (22.9%). There are also a number of people of Italian ancestry (21.2%), and residents who report German roots (17.5%), and some of the residents are also of English ancestry (9.3%), along with some Asian ancestry residents (8.1%), among others. In addition, 11.1% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Morristown South neighborhood spend between 15 and 30 minutes commuting one-way to work (36.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (56.0%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (6.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
