FIPS 34027 · population 514,528 · part of New York, NY
The latest county-level Zillow ZORI is $2,874 per month in 2026-06. It is a typical asking-rent index across rental types—not an arithmetic average, signed lease or quote for one property.
| Bedrooms | HUD monthly FMR | Geography | Measurement boundary |
|---|---|---|---|
| Studio | $1,612 | Morris County, NJ | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 1 bedroom | $1,822 | Morris County, NJ | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 2 bedrooms | $2,205 | Morris County, NJ | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 3 bedrooms | $2,761 | Morris County, NJ | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 4 bedrooms | $3,137 | Morris County, NJ | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
Zillow asking rent, ACS gross rent and HUD FMR describe different housing universes. They remain separate and no metro, city or neighboring-county value replaces missing county evidence.Zillow pulled 2026-07-26 · HUD pulled 2026-07-26
Everything here joins on the county FIPS code, so each figure comes from the agency that publishes it with no name matching in between.
Zillow estimates a current home value. FHFA tracks repeat mortgage transactions. Their growth rates should be read side by side, not averaged.
Survey source: Census ACS 5-year — county housing value, tenure and stock · ACS 2024 5-year · pulled 2026-07-30. These values describe different housing universes and are not combined into gross yield.
Workplace source: BLS QCEW — county employment and wages · annual county employment and wages 2021-2025; latest 2025 vs 2024 · pulled 2026-08-02. QCEW counts covered jobs located in the county, not employed residents or the metro score’s CES/LAUS series.
BEA per-capita personal income divides all personal income by the county population. It is broader than wages, but it is not household income or a measure of what renters can afford.
HUD CHAS separates renter households by income relative to local HAMFI. Moderate burden means housing costs above 30% through 50% of income; severe burden means more than 50%.
These Apartment List observations match the exact county Census code 34027. They are kept separate from Zillow asking rent, Census occupied-home rent and wider metro measures.
Monthly overall-rent index; missing observations are not filled from another geography.
Morris County poses a high-entry-price, modest-top-line-yield tension. Zillow’s June 2026 county median home value is $717,390, against published median asking rent of $2,874 per month and a stated 4.81% gross yield before costs. Investors seeking rent-supported acquisitions should investigate property economics; buyers relying on appreciation alone should be cautious. Zillow’s value measure rose 3.51%, while FHFA’s repeat-transaction index, in separately labeled 2025 annual data, rose 5.88%. The measures have different methods and vintages and should not be averaged; FHFA is not a dollar home-price change.
Market rent is measured asking rent, not HUD’s two-bedroom Fair Market Rent payment standard. FMR neither establishes achievable asking rent nor supports a yield calculation. The 1.72% effective property-tax rate is a material carrying-cost input, while the published gross yield is explicitly pre-cost and does not establish net cash flow. Operating expenses, financing, vacancy, rent by unit type, and lease terms are not published, preventing coverage and net-yield underwriting.
Realtor.com’s 2026-06 MLS data show active listings increased 15.48%; that is visible asking-price supply, not a closed-sale price or proof of buyer demand. Tax-return migration produced a calculated net loss of 1,254 moving households, although inbound households’ average income was $2,273 higher than outbound households’. Investor mortgages represented 5.51% of 4,411 purchases, so non-occupant participation should be separated from total demand. QCEW annual covered employment at county workplaces grew 0.88%; it is neither resident employment nor unemployment, and Professional and business services is the largest disclosed private supersector, not the whole economy.
Modeled expected annual building-value loss is 0.15%, with inland flood the dominant hazard; this is neither a site-specific insurance quote nor realized damage. Missing flood-zone, elevation, insurance, condition, sale-comparable, operating-expense, vacancy, financing, and local rental-rule evidence prevents a parcel-level hazard-cost, net-yield, or transaction-value conclusion. Verify those items, title, and the parcel tax bill before applying county measures to an individual asset; county evidence cannot resolve block, structure, or tenant differences.
Census-recognized incorporated places and CDPs that intersect this county. The list does not pretend to include every neighborhood or informal community.
Population is the total place-wide ACS estimate, not an allocated county share. A place crossing a county line is labelled explicitly. Source: Census ACS 5-year — cities and communities · ACS 2024 5-year · pulled 2026-07-30.
0.146% of building value expected lost per year
$10,001 median annual bill
12,912 in · 14,166 out
$134,185 arriving · $131,912 leaving
243 of 4,411 mortgages
Listing price is an asking price, not a closed sale. Quality-flagged county rows are withheld instead of displayed.
A metro is an average of these. Which side of a county line a property sits on can change the tax bill, the hazard profile and the tenant pool.
| County | Population | Price | Rent | Yield | Hazard |
|---|---|---|---|---|---|
| Morris County | 514,528 | $717k | $2,874 | 4.8% | inland flooding |
| Kings County | 2,631,580 | $957k | $3,808 | 4.8% | inland flooding |
| Queens County | 2,323,052 | $744k | $3,256 | 5.3% | inland flooding |
| New York County | 1,629,477 | $1217k | $4,833 | 4.8% | inland flooding |
| Suffolk County | 1,530,146 | $727k | $3,349 | 5.5% | inland flooding |
| Bronx County | 1,404,779 | $500k | $2,847 | 6.8% | inland flooding |
| Nassau County | 1,389,591 | $860k | $3,564 | 5.0% | inland flooding |
| Westchester County | 999,677 | $879k | $3,184 | 4.3% | inland flooding |
| Bergen County | 962,316 | $791k | $2,916 | 4.4% | inland flooding |
No. It is a two-bedroom payment standard, not a market-rent estimate or a basis for gross yield.
Annual average covered jobs located at workplaces in the county; it does not measure resident employment or unemployment.
Operating expenses, financing, vacancy, lease terms, property condition, and parcel-specific hazard and insurance evidence are not published.