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City · 13,564 residents · Morris County, New Jersey

Florham Park , New Jersey

In Florham Park, a typical home is worth $791,400 and typical rent is $3,109 a month. Compared with all of Morris County, typical rent is 63% higher and the typical home value is 36% higher.

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  • Typical home value

    $791,400

    36% above the county

    74% above New Jersey

    • Florham Park
    • Morris
    • New Jersey

  • Typical rent

    $3,109a month

    63% above the county

    81% above New Jersey

    • Florham Park
    • Morris
    • New Jersey

  • Typical household income

    $158,696a year

    16% above the county

    53% above New Jersey

    • Florham Park
    • Morris
    • New Jersey

  • Households that own their home

    70%

    5 points below the county

    6 points above New Jersey

    • Florham Park
    • Morris
    • New Jersey

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$1,049,188
10% more than 12 months ago
Typical rent
$3,724 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Florham Park is in Morris County. The FHA loan limit ($1,249,125 for a one-unit home), the fair market rents and the help on this page are those of all of Morris County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Florham Park apart

What this place has that others do not, from public data, most unusual first.

  1. The typical rent in Florham Park is $3,109 a month, 63% more than in Morris County as a whole ($1,904).

  2. The typical home in Florham Park is worth $791,400, 36% more than in Morris County as a whole ($582,500).

  3. According to Zillow, in the 12 months to September 2026 the typical home value in Florham Park rose 10%; in New Jersey, it rose 4%.

  4. Nearby, in Chatham, the typical rent is $2,250: 28% less than in Florham Park ($3,109).

  5. Nearby, in Whippany, the typical home value is $615,400: 22% less than in Florham Park ($791,400).

  6. The typical household income in Florham Park is $158,696, 16% more than in Morris County as a whole ($137,326).

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Florham Park

What homes there are in Florham Park, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Homes in Florham Park are varied: detached houses are the largest group, at 49%, against 65% in Morris County.

Year built

Homes in Florham Park are newer: the typical year built is 1984; in Morris County, 1971.

There are fewer big homes in Florham Park than in Morris County: 62% have 3 bedrooms or more, against 65%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$3,627 a month

Morris County: $3,295 a month

Without a mortgage

$1,473 a month

Morris County: $1,385 a month

Owners with a mortgage

59%

Morris County: 65%

Owning costs more in Florham Park: with a mortgage, the typical cost is $3,627 a month; in Morris County, $3,295. Without one, $1,473.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Homes in Florham Park gained value more slowly than in Morris County: 23% since 2015–2019, against 28%.

The typical rent in Florham Park rose 27% over the same time; in Morris County, it rose 24%.

To compare: typical income in Florham Park rose 24%; the home, +23%; the rent, +27%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureFlorham ParkMorris CountyNew JerseyUnited States
Rental vacancy Unreliable estimate3.3%3.5%5.5%
Homeowner vacancy Unreliable estimate0.5%0.7%0.9%
More than one person per room Unreliable estimate1.7%4.0%3.4%
People per household 2.572.622.622.53
Drive alone 54%66%62%69%
Carpool 5%6%8%9%
Public transit Unreliable estimate3%8%3%
Walk or bike 4%2%3%3%
Work from home 31%22%17%15%
Other means Unreliable estimate1%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

A household in Florham Park has 2.57 people on average, about the same as in Morris County (2.62).

Working from home is more common in Florham Park: 31%, against 22% in Morris County.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Florham Park?

A typical home costs more than the typical income allows

We start with a typical home in Florham Park, worth $791,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 51% of the typical household income in Florham Park, which is $158,696 a year. For that payment to be 28% of income, a household would need to earn about $290,351 a year.

The calculator's FHA and conventional loan limits are those of all of Morris County.

Your numbers

Local data
$

Starts at the typical home value in Florham Park. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $27,699 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$6,775

at 7.18% · 30 years

Loan amount
$777,066
Total interest
$1,118,015
Paid off in
November 2056

Includes $13,365 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $3,703 a month

  • Tight

    $3,703 to $4,761 a month

  • Hard

    more than $4,761 a month

    Your payment · 51%

Compared with the typical household income in Florham Park ($158,696 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$6,775
Principal & interest$5,264
Property tax$831
Home insurance$330
FHA mortgage insurance (MIP)$350

You need at least $27,699 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Florham Park and Morris County

Florham Park is in Morris County, New Jersey. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Florham Park's own numbers

Typical home value
$791,400
Typical monthly rent
$3,109
Typical yearly household income
$158,696
Households that own their home
70%
Effective property tax rate
1.26%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Morris County

FHA limit, one-unit home
$1,249,125
Conventional limit, one unit
$1,209,750
HUD fair market rent, 2 bedrooms
$2,233
Price change over 5 years (FHFA)
+53%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Morris County.

Everything about Morris County

Buying

Buying a home in Florham Park

A typical home in Florham Park is worth $791,400: 36% above the county and 74% above New Jersey. With the typical household income in Florham Park ($158,696 a year), a typical home costs 5.0 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Florham Park 5.0 years
  • Morris 4.2 years
  • New Jersey 4.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Morris County

According to FHFA’s house price index, home prices in Morris County rose 68% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Morris County.

Period County New Jersey U.S.
Last year (2025) +5.9% +6.2% +2.9%
5 years (2020–2025) +53% +63% +47%
10 years (2015–2025) +68% +88% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Florham Park next to Morris County, New Jersey and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Florham Park $791,400
  • Morris $582,500
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Florham Park $3,109
  • Morris $1,904
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Florham Park $158,696
  • Morris $137,326
  • New Jersey $103,556
  • United States $80,734
See the full table
Florham Park next to Morris County and New Jersey
Measure Florham Park Morris County New Jersey U.S.
Typical home value $791,400 $582,500 $454,400 $332,700
Typical monthly rent $3,109 $1,904 $1,720 $1,413
Typical yearly household income $158,696 $137,326 $103,556 $80,734
Households that own their home 70% 74% 64% 65%
Typical yearly property tax $10,001 $10,001 $9,590 $3,119
Effective property tax rate 1.26% 1.72% 2.11% 0.94%
Renters with high rent for their income 44% 45% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Morris County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Florham Park

For a typical $791,400 home in Florham Park, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Florham Park's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $6,775a month

    Least cash to close
    Down payment
    $27,699
    Cash to close
    $51,441
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $350

  • Conventional, 5% down $6,630a month

    Down payment
    $39,570
    Cash to close
    $63,312
    Rate
    7.18%
    Mortgage insurance
    PMI · $376

  • Conventional, 20% down, no PMI $5,450a month

    Down payment
    $158,280
    Cash to close
    $182,022
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $6,181a month

    Down payment
    $118,710
    Cash to close
    $142,452
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Florham Park and for Morris County.

Property tax

Effective rate in Florham Park

1.26%of the home’s value each year

$10,001 a year for the typical owner in Florham Park.

  • Florham Park 1.26%
  • Morris 1.72%
  • New Jersey 2.11%

What New Jersey publishes ANCHOR, Senior Freeze and Stay NJ: one combined application (New Jersey Division of Taxation)

Exemptions and deadlines in New Jersey

Flood risk in Morris County

FEMA does not publish these numbers by city: they are for all of Morris County.

FEMA’s maps count no homes in the high-risk zone in Morris County. That does not mean it cannot flood: check your address.

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Florham Park

Typical rent in Florham Park is $3,109 a month: 63% above the county. In Florham Park, 44% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Morris County, by unit size. To pay the 2-bedroom one ($2,233 a month) without spending more than 30% of your income, you would need to earn $42.94 an hour working full time.

HUD fair market rent for all of Morris County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,637 $31.48 $65,480
1 bedroom $1,850 $35.58 $74,000
2 bedrooms $2,233 $42.94 $89,320
3 bedrooms $2,785 $53.56 $111,400
4 bedrooms $3,188 $61.31 $127,520

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Florham Park

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Florham Park has 2 ZIP codes with their own.

For 2 bedrooms it runs from $3,240 in 07961 to $3,350 in 07932.

2 of the 2 are above the fair market rent for Morris County ($2,233).

  • 07932 $3,350$4,180
  • 07961 $3,240$4,040

A ZIP code counts for Florham Park when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Florham Park

HUD lists 2 buildings with rents for lower incomes in Florham Park. These are the largest.

  • Cheshire Home III 305 Greenwood Ave, Florham Park 07932 8 low-income homes · For people with disabilities
  • Woodfield Estates at Florham Park #192 1,3,5,7,9 &11 Ward Place, Florham Park 60 homes · In service since 2012

See all 45 buildings in Morris County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Florham Park

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Morris County; none says it serves in Spanish.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Florham Park

No down payment, repair or rent-help program on our list is for Florham Park or Morris County. The ones below are statewide in New Jersey: they work in Florham Park the same as in the rest of the state.

Which programs do I qualify for? All programs in New Jersey

Housing counselors near Florham Park

The HUD-approved agencies closest to the center of Florham Park, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Credit.org - New Jersey Branch

    101 Eisenhower Pkwy, Roseland · 5 miles away · Spanish

    Also serves in other languages.

    • Mortgage delinquency and default
    • Budget and credit workshops
    • and 4 more
    (800) 431-8157

  • Consumer Credit and Budget Counseling, DBA National Foundation for Debt Management

    26 Park St Ste 2000, Montclair · 10 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (727) 755-8558

  • Tri-City Peoples Corporation

    675 S 19th St, Newark · 10 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 10 more
    (097) 367-5448

Every agency in Morris County All counseling agencies in New Jersey

Help in Spanish near Florham Park

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Florham Park

HUD’s record names them for Florham Park or Morris County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Morris County Housing Authority Public housing and Section 8 vouchers (973) 540-0389

4 other authorities have an office in Morris County: see the list Source: HUD

Cities

Other cities in Morris County

These cities are also in Morris County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Morris County Housing in New Jersey
See 14 more cities in Morris County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Florham Park, with the typical home value.

Neighboring counties

If Morris County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Florham Park.

All guides
A mother holds hands with her two daughters on the beach at sunset.

Questions

Housing questions about Florham Park

Short answers with the numbers for Florham Park and all of Morris County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Florham Park?

The typical home value in Florham Park is $791,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Morris County it is $582,500.

How much does it cost to rent in Florham Park?

Typical rent in Florham Park is $3,109 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Morris County is $2,233.

What is the FHA loan limit in Florham Park?

Florham Park uses the FHA limit for all of Morris County (2026): $1,249,125 for a one-unit home and $2,402,625 for a four-unit home.

How much property tax do owners pay in Florham Park?

The typical homeowner in Florham Park pays $10,001 a year, according to the U.S. Census Bureau. That is 1.26% of the home’s value; in Morris County, the rate is 1.72%.

Where can I find free help to buy or rent in Florham Park?

There is 1 HUD-approved counseling agency with an office in Morris County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).