Average Rent in Morristown, TN↑ Rents rising 1.6% YoY🔺 8th priciest in TN

Morristown, TN has rental prices ranging from $906/month to $1,838/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $912/month — 35% below the national average of $1,400/month. With a median household income of $58,130/year, spending $912/month on a 1-bedroom represents 19% of gross income — within the recommended 30% threshold.

How Morristown Compares

With an average 2-bedroom rent of $1,153/month, Morristown ranks #8 most expensive of the 74 cities tracked in Tennessee — pricier than 70% of all US cities in our data.

The Morristown Rental Market

The Morristown, TN area has a population of about 120,765 and 29% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Morristown, TN have risen by $18/month (1.6%) over the past year, from $1,135 to $1,153. Rents have remained relatively stable year over year, indicating a balanced rental market in the area.

Affordability

To afford a 1-bedroom apartment in Morristown, TN without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $36,480. The local median household income of $58,130 exceeds that threshold by $21,650, making Morristown relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Morristown, TN is $263,450, giving a price-to-rent ratio of 19.0. With a break-even horizon of approximately 19 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Is Morristown, TN Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Morristown?

Break-even analysis and mortgage estimates based on local market data.

Living in Morristown

Cost of living, job market, crime rates, and moving cost estimates.