Midland Park, NJ vs Morristown, NJ

Midland Park, NJ and Morristown, NJ have a very similar cost of living, with only a 4.9% difference in their overall index. Midland Park scores 143 while Morristown scores 151 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Midland Park is $1,837/month compared to $2,171/month in Morristown — a 15% difference. Interestingly, home values tell a different story: while Midland Park has cheaper rent, Morristown actually has lower median home values ($552,800 vs $586,200).

Median household income in Midland Park is $140,063 compared to $115,409 in Morristown (+21.4%). Midland Park offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Midland Park spend roughly 15.7% of their income on rent, less than the 22.6% in Morristown.