Cost of Living & Housing in Morristown
Morristown runs genuinely affordable -- a below-national cost-of-living index, no state income tax, and low overall housing costs -- though a striking recent jump in median home sale price and a real, disclosed inconsistency in property-tax figures across sources mean a buyer should verify current numbers directly rather than relying on any single figure here.
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Learn moreHousing Prices -- Genuinely Affordable, With a Striking Recent Jump
A February 2026 Redfin reading cited a $312,000 median sale price, up 19.3% year over year -- a real, notably large single-year increase worth flagging directly. A more recent reading cited $308,375, roughly consistent with that figure. Price per square foot ($161) fell 14.4% year over year even as the median rose -- a real divergence, possibly reflecting a shift in the size or type of homes selling, not independently reconciled this session. One source separately described Morristown's median sale price as running about 26% below the national average. Pull a current listing-based figure for a specific budgeting decision.
Property Taxes -- A Real, Disclosed Inconsistency Across Sources
This record found and discloses a genuine inconsistency rather than picking a number to look clean: one synthesized figure describes Morristown homeowners paying a median of $921/yr on a $155,700 home, an effective rate of 0.59% -- 44% above the Hamblen County-wide average of 0.41%. A separate synthesized figure described combined city+county rates "totaling approximately 3.37%," a figure that reads as inconsistent with how Tennessee normally expresses millage rates (per $100 of assessed value, not as a bare percentage of full home value) and was not treated as reliable. The 0.59%/0.41% effective-rate figures are the more methodologically legible reading, but confirm the current combined rate directly with the Hamblen County Trustee before budgeting.
Overall Cost of Living -- Meaningfully Below the National Average
An overall cost-of-living index of 85 is cited (100 = U.S. average), roughly 15% below the national average -- broadly consistent with a separate reading describing Morristown's cost of living as 11% below national.
Income, Unemployment, and Real Disclosed Gaps
Median household income figures disagreed sharply across sources ($33,511 versus $47,917, a spread of more than 40%) -- disclosed rather than resolved to one number. A single-source unemployment figure of 9.0% is cited, described as "91% higher than the national rate" -- a real, elevated figure not independently cross-checked against a second source or current BLS data this session; confirm before relying on it for a job-search decision. No Morristown-specific homeowners insurance premium was found this session.
Key takeaways
- Median home sale price jumped a striking, disclosed 19.3% year over year to $312,000 as of a February 2026 reading -- verify this trend is still current before budgeting around it.
- A real, disclosed inconsistency was found in property-tax figures across sources this session; the more methodologically legible reading (0.59% effective rate, $921 median annual bill) is used here, but confirm the current combined rate directly with the Hamblen County Trustee.
- An overall cost-of-living index of 85 (roughly 15% below the national average) applies alongside no state income tax -- a real, structural affordability advantage.
- Median household income figures disagreed sharply across sources ($33,511-$47,917), and a single-source 9.0% unemployment figure was not independently cross-checked -- both disclosed as real gaps rather than settled numbers.
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