What salary do you need to live in Morristown, TN?

Rent, home values and prices in Morristown

Median gross rent, meaning contract rent plus tenant-paid utilities, runs $701, $900 and $949 a month for one, two and three bedrooms across Morristown, TN. The largest of those is 35% more than the smallest.

On the ownership side, the typical owner-occupied home is valued at $218,100. With median household income at $60,553, a typical home costs 3.6× a typical income, close to the middle of the range across US metros.

The Regional Price Parity, BEA's index of local prices with the US at 100, is 86.4 here. Below 100 means a paycheck stretches further: $100,000 in Morristown has the buying power of roughly $115,789 at national average prices.

The salary lines for a two-bedroom in Morristown

For two bedrooms, $90,000 is where Morristown turns Comfortable. Below that, $45,000 marks the start of Okay and $23,000 the start of Tight; under $23,000 the score reads Stretched. Rent at the Comfortable line is 12% of gross pay.

Royal, the top band, starts at $218,000. At that income rent is 5% of pay and the median home 1.0× income.

How they were found: the same scoring function the calculator runs was evaluated at rising incomes until each cutoff was crossed, and the crossing rounded up to a whole $1,000.

Four salaries, three home sizes in Morristown

On $75,000, a one-bedroom scores 64 and a three-bedroom 59, both Okay; the extra bedrooms cost points but not a grade.

Of the four salaries, $100,000 is the first where a two-bedroom reads Comfortable or better; $75,000 still lands at Okay.

Morristown compared with every US metro

Out of 387 metros, Morristown has the 362nd highest price parity and the 357th highest two-bedroom rent, which puts it among the least expensive tenth on overall prices and among the least expensive tenth on rent.

Its nearest neighbors on the rent list are Huntington-Ashland, WV-KY-OH ($900) and Altoona, PA ($896).

Morristown next to Tennessee and similar metros

Statewide, Tennessee's median two-bedroom rent is $1,143 and its median home value $286,700. Morristown's rent is −21% against that, and its home value −24%; the price parity is 86.4 versus 91.9 for the state.

Run Tennessee's statewide medians through the same score and Comfortable begins at $132,000; Morristown's line is −32% from that.

Looking for somewhere comparable without leaving Tennessee? Kingsport-Bristol, TN-VA, Johnson City, TN, and Jackson, TN have the closest mix of rent and overall prices.

Morristown's median income on the scale

What about a typical local household? Census puts median household income here at $60,553, which grades Okay (54) for a two-bedroom at the median rent. That falls $29,447 short of the $90,000 Comfortable line, a reminder that the typical household here spends a larger share on housing than the Comfortable band allows. Statewide, the Tennessee median household ($69,595) grades Okay on the state's own medians. A household figure may pool several earners, unlike a single salary.

All figures are pre-tax estimates from public data, not financial advice.