Morristown, NJ
- Overview
- Performance
- Listings
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Key Performance Metrics
Market snapshotPerformance indicators for the Morristown short-term rental market based on reliable data.
Listings
9 / 33
Reliable / Active
Cap Rate
5%
Middle-Earners Gross Yield
Revenue
$39,880
Middle-Earners Revenue
Occupancy
69%
Middle-Earners Occupancy
Home Value
$856,439
Median Home Sale Price
Top Earners
$43,634
Top-Earners Revenue
Morristown
Market Revenue Seasonality
Top Listings
Highest revenueThe highest-performing listings in Morristown.
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Challenging to Investors
Morristown Regulations
Short‑term rentals are technically allowed but only in Morristown’s Town Core district and under tight eligibility (condo/HOA/co‑op with governing‑document permission, lawful accessory structure on owner‑occupied lots, or one unit in a 2‑4 family if owner‑occupied), plus a 60‑day/year cap and one guest‑party rule. Compliance costs and complexity are high: a $200/1‑yr STR license plus a $60 Certificate of Habitability renewed every 6 months, required off‑street parking proof, an in‑town emergency contact, and a daily guest register with extensive in‑unit postings. The narrow zoning scope, restrictive cap, and layered permitting/inspection duties make the regime challenging for investors.
Local STR Agent
STR specialist · Morristown, NJ
About Morristown
Morristown () is a town and the county seat of Morris County, in the U.S. state of New Jersey. Morristown has been called "the military capital of the American Revolution" because of its strategic role in the war for independence from Great Britain. Morristown's history is visible in a variety of locations that collectively make up Morristown National Historical Park, the country's first National Historical Park.According to British colonial records, the first permanent settlement in Morristown was New Hanover, founded in 1715 by colonists from New York and Connecticut. Morris County was created on March 15, 1739, from portions of Hunterdon County. The county, and ultimately Morristown itself, was named for the popular Governor of the Province, Lewis Morris, who championed land ownership rights for colonists.Morristown was incorporated as a town by an act of the New Jersey Legislature on April 6, 1865, within Morris Township, and it was formally set off from the township in 1895. As of the 2020 United States census, the town's population was 20,180, an increase of 1,769 (+9.6%) from the 2010 census count of 18,411, which in turn reflected a decline of 133 (−0.7%) from the 18,544 counted in the 2000 census.