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City · 31,527 residents · Hamblen County, Tennessee

Morristown , Tennessee

In Morristown, a typical home is worth $181,100 and typical rent is $882 a month. Compared with all of Hamblen County, the typical home value is 14% lower, typical household income is 14% lower, and the share of households that own their home is 15 points lower.

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  • Typical home value

    $181,100

    14% below the county

    37% below Tennessee

    • Morristown
    • Hamblen
    • Tennessee

  • Typical rent

    $882a month

    3% above the county

    26% below Tennessee

    • Morristown
    • Hamblen
    • Tennessee

  • Typical household income

    $47,917a year

    14% below the county

    31% below Tennessee

    • Morristown
    • Hamblen
    • Tennessee

  • Households that own their home

    55%

    15 points below the county

    12 points below Tennessee

    • Morristown
    • Hamblen
    • Tennessee

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

Market now, with Zillow data

Zillow data
Typical home value
$263,450
2.5% more than 12 months ago
Typical rent
$1,465 a month
1% less than 12 months ago

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

Morristown is in Hamblen County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Hamblen County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Morristown apart

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

  1. Nearby, in Greeneville, the typical rent is $650: 26% less than in Morristown ($882).

  2. Nearby, in Newport, the typical home value is $133,500: 26% less than in Morristown ($181,100).

  3. 55% of households in Morristown own their home, against 70% in Hamblen County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Morristown

What homes there are in Morristown, 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

The detached house is still the most common home in Morristown, but it weighs less than in Hamblen County: 61% against 70%.

Year built

Homes in Morristown are older: the typical year built is 1976; in Hamblen County, 1980.

Homes in Morristown are smaller: 53% have 3 bedrooms or more; in Hamblen County, 66%.

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

By price, most homes in Morristown sit under the FHA limit for Hamblen County ($541,287): about 93%.

Monthly rent with utilities

By rent, most homes in Morristown cost less than HUD's 2-bedroom fair market rent ($1,153): about 73%.

With a mortgage

$1,177 a month

Hamblen County: $1,227 a month

Without a mortgage

$450 a month

Hamblen County: $405 a month

Owners with a mortgage

51%

Hamblen County: 48%

In Morristown, 51% of owners have a mortgage; their typical cost is $1,177 a month, about the same as in Hamblen County.

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

From 2015–2019 to 2020–2024, the typical home value in Morristown rose 56%; in Hamblen County, it rose 53%.

Since 2015–2019, the typical rent in Morristown rose 21%, more than in Hamblen County (17%).

To compare: typical income in Morristown rose 49%; the home, +56%; the rent, +21%.

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

MeasureMorristownHamblen CountyTennesseeUnited States
Rental vacancy 8.8%6.3%6.1%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.9%0.9%
More than one person per room 4.1%2.5%2.2%3.4%
People per household 2.522.492.452.53
Drive alone 84%84%76%69%
Carpool 8%8%8%9%
Public transit Unreliable estimateUnreliable estimate0%3%
Walk or bike Unreliable estimateUnreliable estimate1%3%
Work from home 3%5%13%15%
Other means Unreliable estimate2%1%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

There is more rental housing open in Morristown: 8.8% is empty and offered for rent, against 6.3% in Hamblen County.

More households are short on space in Morristown: 4.1% have more than one person per room; in Hamblen County, 2.5%.

By size, households in Morristown look like those in Hamblen County: 2.52 people on average.

To get to work, 84% of workers in Morristown drive alone; in Hamblen County, 84%.

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 Morristown?

A typical home is tight for the typical income

We start with a typical home in Morristown, worth $181,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 36% of the typical household income in Morristown, which is $47,917 a year. For that payment to be 28% of income, a household would need to earn about $61,462 a year.

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

Your numbers

Local data
$

Starts at the typical home value in Morristown. 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 $6,339 (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

$1,434

at 7.18% · 30 years

Loan amount
$177,819
Total interest
$255,840
Paid off in
November 2056

Includes $3,058 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,118 a month

  • Tight

    $1,118 to $1,438 a month

    Your payment · 36%

  • Hard

    more than $1,438 a month

Compared with the typical household income in Morristown ($47,917 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,434
Principal & interest$1,205
Property tax$74
Home insurance$76
FHA mortgage insurance (MIP)$80

You need at least $6,339 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

Morristown and Hamblen County

Morristown is in Hamblen County, Tennessee. 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).

Morristown's own numbers

Typical home value
$181,100
Typical monthly rent
$882
Typical yearly household income
$47,917
Households that own their home
55%
Effective property tax rate
0.49%

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

Numbers for all of Hamblen County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,153
Price change over 5 years (FHFA)
+71%
Homes in a high flood-risk zone
0.6%

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 Hamblen County.

Everything about Hamblen County

Buying

Buying a home in Morristown

A typical home in Morristown is worth $181,100: 14% below the county and 37% below Tennessee. With the typical household income in Morristown ($47,917 a year), a typical home costs 3.8 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.

  • Morristown 3.8 years
  • Hamblen 3.8 years
  • Tennessee 4.1 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Hamblen County

According to FHFA’s house price index, home prices in Hamblen County rose 119% in the 10 years through 2025.

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

Period County Tennessee U.S.
Last year (2025) +1.7% +2.4% +2.9%
5 years (2020–2025) +71% +60% +47%
10 years (2015–2025) +119% +114% +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

Morristown next to Hamblen County, Tennessee and the U.S.

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

Typical home value
  • Morristown $181,100
  • Hamblen $210,900
  • Tennessee $286,700
  • United States $332,700
Typical monthly rent
  • Morristown $882
  • Hamblen $857
  • Tennessee $1,189
  • United States $1,413
Typical yearly household income
  • Morristown $47,917
  • Hamblen $55,454
  • Tennessee $69,595
  • United States $80,734
See the full table
Morristown next to Hamblen County and Tennessee
Measure Morristown Hamblen County Tennessee U.S.
Typical home value $181,100 $210,900 $286,700 $332,700
Typical monthly rent $882 $857 $1,189 $1,413
Typical yearly household income $47,917 $55,454 $69,595 $80,734
Households that own their home 55% 70% 67% 65%
Typical yearly property tax $880 $862 $1,442 $3,119
Effective property tax rate 0.49% 0.41% 0.5% 0.94%
Renters with high rent for their income 45% 45% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Hamblen 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 Morristown

For a typical $181,100 home in Morristown, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Morristown's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,434a month

    Least cash to close
    Down payment
    $6,339
    Cash to close
    $11,772
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $80

  • Conventional, 5% down $1,401a month

    Down payment
    $9,055
    Cash to close
    $14,488
    Rate
    7.18%
    Mortgage insurance
    PMI · $86

  • Conventional, 20% down, no PMI $1,131a month

    Down payment
    $36,220
    Cash to close
    $41,653
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,298a month

    Down payment
    $27,165
    Cash to close
    $32,598
    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 Morristown and for Hamblen County.

Property tax

Effective rate in Morristown

0.49%of the home’s value each year

$880 a year for the typical owner in Morristown.

  • Morristown 0.49%
  • Hamblen 0.41%
  • Tennessee 0.5%

What Tennessee publishes Property tax relief for older, disabled and disabled-veteran homeowners (Tennessee Comptroller of the Treasury, 2026 Property Tax Relief Program brochure)

Exemptions and deadlines in Tennessee

Flood risk in Hamblen County

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

Homes in the high-risk zone
0.6%
134
Of those, with NFIP insurance
37%
County Tennessee U.S.
Homes in the high-risk zone 0.6% 1.6% 3.5%
Of those, with NFIP insurance 37% 25% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Morristown

Typical rent in Morristown is $882 a month: 3% above the county. In Morristown, 45% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Hamblen County, by unit size. To pay the 2-bedroom one ($1,153 a month) without spending more than 30% of your income, you would need to earn $22.17 an hour working full time.

HUD fair market rent for all of Hamblen 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 $906 $17.42 $36,240
1 bedroom $912 $17.54 $36,480
2 bedrooms $1,153 $22.17 $46,120
3 bedrooms $1,405 $27.02 $56,200
4 bedrooms $1,838 $35.35 $73,520

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 Morristown

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

For 2 bedrooms it runs from $1,140 in 37813 to $1,160 in 37814.

1 of the 2 is above the fair market rent for Hamblen County ($1,153).

  • 37813 $1,140$1,390
  • 37814 $1,160$1,410

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Morristown 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 Morristown

HUD lists 14 buildings with rents for lower incomes in Morristown. These are the largest.

  • C. Frank Davis Homes Ext. 950 Kennedy Cir, Morristown 37813 647 homes, 646 low-income · Run by Tennessee Valley Housing Services · Average payment: $379 a month · Average wait: 13 months (423) 586-5115
  • Walters Ridge Apartments 578 Housley St, Morristown 37814 88 low-income homes · 1 bd: 44 · 2 bd: 44 · In service since 2017 · For older adults
  • Lincoln Manor Apts 1107 S Jackson St, Morristown 37813 80 low-income homes · 1 bd: 32 · 2 bd: 40 · 3 bd: 8 · In service since 2007 · For families (423) 581-4800
  • Laurelwood Apartments 513 S Hill St, Morristown 37813 65 low-income homes · For older adults (423) 581-1263
  • Rutledge Place 792 Seymour St, Morristown 37813 64 low-income homes · 1 bd: 24 · 2 bd: 36 · 3 bd: 4 · In service since 2016 · For families

See all 14 buildings in Hamblen County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Morristown

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.

We found no HUD-approved agencies with an office in Hamblen County. The nearest ones are below; many serve by phone or online.

A pregnant woman reads paperwork on the sofa while the grandmother plays with the girl on the floor.

HUD counseling is free or low-cost

Assistance programs in Morristown

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

Which programs do I qualify for? All programs in Tennessee

  • Great Choice Plus

    Statewide in Tennessee

    Tennessee state agency help with the down payment and closing costs alongside the Great Choice mortgage: $6,000 or $10,000 forgivable over 10 years with no payments, or up to 5% of the price (maximum $15,000) as a 30-year second mortgage. Offered by Tennessee Housing Development Agency (THDA).

    ForgivableRepayable

    See the program Official page

Housing counselors near Morristown

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

  • Clinch-Powell Resource Conservation and Development Council, Inc

    7995 Rutledge Pike, Rutledge · 13 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (865) 828-5927

  • Telamon Corporation - Tennessee Branch

    100 Erin Ln, Bulls Gap · 14 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 8 more
    (984) 365-6571

  • Knoxville Area Urban League

    1514 E 5th Ave, Knoxville · 37 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (865) 524-5511

All counseling agencies in Tennessee

Help in Spanish near Morristown

1 of the 3 agencies on this list says it serves 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 Morristown

In HUD’s record, no housing authority with an office in Hamblen County is named for Morristown or Hamblen County.

One other authority has an office in Hamblen County: see the list Source: HUD

Cities

Nearby cities

The cities closest to Morristown, with the typical home value.

Everything about Hamblen County Housing in Tennessee

Neighboring counties

If Hamblen 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 Morristown.

All guides
A mother holds her laughing daughter on a grey sofa.

Questions

Housing questions about Morristown

Short answers with the numbers for Morristown and all of Hamblen 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 Morristown?

The typical home value in Morristown is $181,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Hamblen County it is $210,900.

How much does it cost to rent in Morristown?

Typical rent in Morristown is $882 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Hamblen County is $1,153.

What is the FHA loan limit in Morristown?

Morristown uses the FHA limit for all of Hamblen County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Morristown?

The typical homeowner in Morristown pays $880 a year, according to the U.S. Census Bureau. That is 0.49% of the home’s value; in Hamblen County, the rate is 0.41%.

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

We found no HUD-approved counseling agencies with an office in Hamblen County; the nearest ones are on this page. 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).