| Index | Morristown | Tennessee | National |
| Cost of living | 89 | 92 | 100 |
| Groceries | 97 | 98 | 100 |
| Health care | 96 | 97 | 100 |
| Housing | 69 | 80 | 100 |
| Transportation | 100 | 97 | 100 |
| Utilities | 97 | 98 | 100 |
| Lifestyle & Entertainment | 95 | 97 | 100 |
| Household Items | 97 | 98 | 100 |
| Education & Childcare | 97 | 97 | 100 |
Knowing the cost of living in Morristown allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Morristown stands at 89, marking it 11% lower than the national average.
Locals have the inside scoop on their city. So, we polled 5 residents in Morristown to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 20% find it reasonable with decreasing prices, but 80% think it's quite pricey, with prices that continue to rise.
Is Morristown an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Morristown is 33.5% lower than the national average, while the average monthly rent prices are 24% lower than average. The affordability of any location can also be influenced by median income levels. Morristown has a median household income of $48,963, which is 39.8% lower than the national average.
Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Morristown comes in at 2.9% lower than the national average.
Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday household expenses like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Morristown starts at 7% and the income tax rates start at 0%.
The Morristown cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $72,026 | $6,002 | $1,680 | $2,161 |
| Renters | $35,521 | $2,960 | $829 | $1,066 |
| State | General Sales Tax | With Max Surtax |
| Tennessee | 7% | 9.75% |
| State | Income Tax (Low) | Income Tax (High) |
| Tennessee | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| Rutledge, TN | 1,516 | 84 | 16.3% |
| Parrottsville, TN | 343 | 85 | 14.8% |
| Mooresburg, TN | 726 | 86 | 13.7% |
| Bulls Gap, TN | 908 | 87 | 12.8% |
| White Pine, TN | 2,471 | 88 | 11.7% |
| Morristown, TN | 30,738 | 89 | 11.2% |
| City | Population | Cost of Living Index | National Avg. |
| Rahway, NJ | 30,734 | 120 | 20.1% |
| Sainte-Julie, QC | 30,753 | n/a | |
| Duluth, GA | 30,718 | 113 | 13.4% |
| Carney, MD | 30,710 | 118 | 18.3% |
| San Carlos, CA | 30,787 | 310 | 209.9% |
| Morristown, TN | 30,738 | 89 | 11.2% |
Here are the best places to live in Tennessee
These are the 10 cheapest cities in Tennessee
Check out the 10 safest cities in Tennessee
Most Dangerous States In The US