City-owned Homes And Land in Morristown, MN

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View this home at W Main St Morristown MN 55052
$187,810 EMV
W Main St
Morristown, MN 55052
3 |
EST. RENT: $1,560
AUCTION: 04-25-2024
3 |
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Home Value Estimator For Morristown, MN

There are currently 768 real estate properties in Morristown, MN, with a median automated valuation model (AVM) price of $274,550.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Morristown, MN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Morristown, MN, is $364,588.00, with the most expensive house in Morristown, MN, topping out at $1,834,484.00 and the cheapest home in Morristown, MN, clocking in at $26,223.00. In other words, there’s something for every potential homebuyer or savvy investor in Morristown, MN!

Rent Prices In Morristown, MN

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Morristown, MN, is on a rollercoaster ride. The average rent price in Morristown, MN, is $1,628.00. Indeed, when looking to rent in Morristown, MN, you can expect to pay as little as $700.00 or as much as $3,180.00, with the average rent median estimated to be $1,570.00. The good news is that finding an affordable and desirable property to rent in Morristown, MN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Top Reasons To Live In Morristown, MN In 2024

Morristown is located in Rice, Minnesota, with an estimated municipal population of 995 residents. All of the best foreclosed homes for sale in Morristown are located in the following zip code areas on 55052. The estimated population per square kilometer (.62 miles) in Morristown is 354.

Cost Of Living In Morristown, MN

So, about how much do homes cost in Morristown? The most recent median value of resident-owned homes in Morristown is 132,078. An estimated 80.1 percent of households in Morristown own their homes, with an average family size of 3.05. The median household income in Morristown is 54,808, with15 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Morristown, the median commute time of resident workers (in minutes) is 29.3. And last, but certainly not least, are you looking for homes to rent in Morristown? If so, the average rent price paid by renters in Morristown is 975, according to recent statistics.

Diversity And Demographics In Morristown, Minnesota

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Morristown, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Morristown is 41.7, split between 48.5 percent male versus 51.5 female. The percentage of residents who report being married in Morristown is 43.1, with an average family size of 3.05.

The percentage of residents who report their race in Morristown is as follows:

White 99%
Black / African American 0.6%
Asian 0%
American Indian / Alaskan Native 0%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 0.4%
Other 0%

Looking for family-friendly neighborhoods in and/or near Morristown? Or maybe you are searching for 55+ active adult communities in and/or near Morristown?

The percentage of residents who report their age in Morristown is as follows:

Under 10 11.5%
Aged 10-19 10.8%
20s 11.8%
30s 14.3%
40s 12.9%
50s 12.4%
60s 9.3%
70s 6.4%
80+ 10.7%

Best Schools In Morristown, Minnesota

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Morristown with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Morristown.

Pros And Cons Of Living In Morristown, Minnesota

How do you know that living in -- or moving to -- Morristown is right where you need to be? Perhaps you grew up in Morristown or already live nearby; therefore, the decision to buy a home in Morristown is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Morristown for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Morristown:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Morristown.

Reasons To Move To Morristown, Minnesota, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Morristown can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Morristown, meanwhile, can field multiple offers from more qualified buyers.

Morristown, MN City-owned Homes And Land


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