Cost of Living in Morris County – We’re Competitive

We home-towners know that Morris County offers more than most places one could live.  Furthermore, the place doesn’t nickel-and-dime you.  You pay your entrance fee (taxes) and you get a smorgasbord of offerings.  (More on this later!)

That isn’t enough though.  Individuals and families seek to optimize quality of life and the cost of living here.  Good data on the cost of living here visa vie other places is lacking.  Right now, you’d have to choose Bergen-Essex, Newark or Middletown, to judge what it would cost to live in Morristown.  See below:

 

This is why the Morris County Economic Development Corporation has chosen to participate in The Council for Community and Economic Research’s Cost of Living Index.  It will take us the better part of the year to collect the data needed to have Morristown included in the 2019 comparative index.

Once the 2019 Index is published we’ll be better able to address these questions:

  • Job Seekers – How does a new job offer in another city actually compare?
  • Human Resource Managers – What is the appropriate salary adjustment needed to recruit talent from other cities?
  • Realtors – How does Morris County compare in cost in the region, state, and country?
  • Site Selectors – Will this community fit my employee’s lifestyle needs as well as my business?

We at the MCEDC will provide data on housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services.  The composite index does not include taxes.  The most heavily weighted costs to rent for an apartment and price for a newly-built house.

The requirement that living places be new is difficult of us in Morris County.  However, it is understandable that new housing costs are more readily compared than current housing stock.

Now that we know what we’re doing in terms of data gathering, we will be needing volunteer shoppers to help with pricing. If you are interested yourself, or want to involve a scout troupe, please contact Beth Kujan at ekujan@morriscountyedc.org.