Morristown, TN housing market
Typical home value
$263K
▲ 2.5% 1 yr
Typical rent
$1,465/mo
▼ 0.9% 1 yr
Gross rent yield
6.7%
U.S. 6.3%
5-year home value change
+34%
U.S. +20%
Key takeaways
- 1The typical home in Morristown is worth $263,450, up 2.5% over the past year and up 34% over five years.
- 2Typical rent is $1,465 a month (−0.9% YoY), a gross rent yield of 6.7% (above the Morristown, TN metro's 6.3%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,448/mo, $17 less than typical rent.
- 4Zillow forecasts the Morristown, TN metro's home values to change +1.9% over the next 12 months.
Market temperature (Morristown, TN metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 31/100, #429 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Morristown compares
| Measure | Morristown | Morristown, TN metro | United States |
|---|---|---|---|
| Typical home value | $263,450 | $297,011 | $366,157 |
| Home value, 1-yr change | +2.5% | +2.7% | +1.2% |
| Typical rent | $1,465 | $1,560 | $1,932 |
| Rent, 1-yr change | −0.9% | +2.4% | +2.7% |
| Gross rent yield | 6.7% | 6.3% | 6.3% |
| Price-to-rent ratio | 15.0 | 15.9 | 15.8 |
| Mortgage P&I, typical home | $1,448 | $1,632 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Morristown rental, pre-filled.
Rent vs buy in Morristown
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $263K home.
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.