Market Overview
Home Prices in Morristown, IN
The median home value in Morristown, IN is $279,848 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.5% compared to a year ago and up 4.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Morristown are priced32% below average. Morristown is part of the Indianapolis-Carmel-Anderson, IN metro area.
Over the past five years, Morristown home values have risen by approximately36.0%, reflecting strong long-term appreciation in this market.
Price History
Morristown Home Price Trend
City Comparison
Morristown vs. National Median
At $279,848, homes in Morristown cost 32% below the national median of $410,000. This makes Morristown a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Morristown?
20% Down Payment
$55,970
on $279,848
Monthly P&I
$1,460/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,854/mo
incl. taxes & insurance
Income Needed
$74,160
gross annual (30% rule)
10% Down Option
$27,985
+ PMI applies
Loan Amount (20% dn)
$223,878
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Morristown, IN?
The median home value in Morristown is $279,848 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.5% year-over-year.
How much have home prices changed in Morristown?
Over the past year, home values in Morristown have increased by 2.5%. Over five years, prices have risen approximately 36.0%.
How much do I need to earn to buy a home in Morristown?
To comfortably afford the median home price of $279,848 with a 20% down payment ($55,970) at today's rates (6.8%), you'd need a gross annual income of approximately $74,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Morristown compare to the national average home price?
The national median home value is approximately $410,000. At $279,848, homes in Morristown are 32% below the national average.
What metro area is Morristown part of?
Morristown is part of the Indianapolis-Carmel-Anderson, IN metropolitan area. Home prices and market conditions can vary across the broader metro region.