Real Estate in Morris, IL
Updated 2026 • Housing market data from 1 zip code • Redfin data through January 2026
📊 Morris, IL Market Activity
The Morris housing market shows a median sale price of $305,000, 3.0% higher than last year. The price per square foot is $179, below the national median of ~$215/sqft, up 7.0% year-over-year. Homes in Morris spend a median of 43 days on market, longer than the national median of 42 days — giving buyers more negotiation room.
🏘️ Morris Rental Market
The average rent in Morris, IL is $2,233 per month. A 2-bedroom apartment rents for approximately $2,500/month, while a 3-bedroom home averages $2,850/month.
📦 Morris Housing Supply & Demand
There are 46 new listings and 33 active properties on the market.
🏆 Morris Market Competitiveness
Homes in Morris sell for an average of 98.0% of their asking price. About 26% of properties sell above list price, indicating moderate buyer competition.
On average, homes sell for 98.0% of the asking price
26% of sales closed above asking, % at or below
📋 Housing Overview
Morris, IL Housing Market Insights
Delve into the specifics of the real estate market in this area. Understanding key metrics such as the median home price of 319000, the balance between renting (42%) and owning (58%), and a population of 14360 provides valuable insights for potential buyers, sellers, and investors. It is important to note that neighborhood characteristics can vary drastically, and decisions should not solely rely on data available without visiting. Many factors can differ, so do consider inspecting areas in-person to avoid potential mismatches in choice.
Rent vs. Buy Analysis
With a median home price of $319,000 and average rents of $2,233/month, the median household income of $73,909 provides context for affordability in Morris. Whether you're looking to buy property in Morris or invest in Morris real estate, understanding the price-to-rent ratio helps determine if renting or owning makes more financial sense for your situation. A 2-bedroom apartment rents for approximately $2,500/month, while a 3-bedroom house averages $2,850/month.
Economy & What Drives Morris Real Estate
Real estate values in Morris, IL are driven by local employment, school quality, and quality of life. The cost of living index of 92.3 (U.S. average = 100) reflects the overall affordability of the area. With a median household income of $73,909, residents have moderate purchasing power. Proximity to major employers, universities, and transportation corridors directly influences home values and demand across Morris neighborhoods.
Pros & Cons
Pros
- •Growing job opportunities
- •Good schools nearby
- •Affordable living costs
- •Low crime rates
- •Friendly community
- •Supportive local businesses
- •Quiet suburban lifestyle
- •Local farmer's markets
- •Family-oriented activities
- •Access to nature trails
Cons
- •Occasional racism reported
- •Less diversity than urban areas
- •Limited nightlife options
- •Limited healthcare facilities
- •Struggles with economic growth
- •Public transport is minimal
- •Seasonal weather extremes
- •Low percentage of college grads
- •Few cultural attractions
- •Dependence on nearby Chicago
Frequently Asked Questions
What is the cost of living in Morris, IL? ▼
The cost of living in Morris, IL is 8% lower than the national average, with a cost of living index of 92 (where 100 represents the U.S. average). Housing typically accounts for the largest portion of living expenses. See full cost of living breakdown →
How much does it cost to buy or rent a home in Morris, IL? ▼
In Morris, IL, The median home price is $319,000. requiring approximately $111,214 annual income to afford. Average rent is $2,233/month (requiring ~$89,333/year income). The local median household income is $73,909, making homeownership attainable for typical residents. Explore Morris real estate data →
Is Morris, IL a safe place to live? ▼
Morris, IL is relatively safe, with crime rates below the national average. The crime rate is 16.0 per 1,000 residents. Safety varies significantly by neighborhood. View detailed Morris crime statistics →
What salary do you need to live comfortably in Morris, IL? ▼
To live comfortably in Morris, IL and afford a median-priced home of $319,000, you would typically need a household income of $79,750 to $99,688 per year. The local median household income is $73,909. Renting requires approximately $89,333/year (at $2,233/month). See full affordability analysis →
Is Morris, IL growing? ▼
Morris, IL has a population of 14,360. As a smaller community, population trends depend on local housing development, job growth, and quality of life factors. The affordable housing market and competitive job market attract new residents. See Morris population demographics →
What are the best neighborhoods in Morris, IL? ▼
The best neighborhoods in Morris, IL depend on your priorities. For families, look for areas near top-rated schools with lower crime rates. For affordability, neighborhoods throughout the city offer good value since the median home price of $319,000 is below the national average. Explore Morris on our interactive map →
What is the commute like in Morris, IL? ▼
Commute times in Morris, IL vary by neighborhood and workplace location. As a smaller community, residents typically drive, as public transit is limited. The affordable cost of living may allow for housing closer to employment centers. Explore commute times on our map →
How are the taxes in Morris, IL? ▼
Tax rates in Morris, IL include state and local components. The cost of living index of 92 suggests a lower overall tax and expense burden cost environment compared to the national average. View detailed Morris tax information →
How does Morris, IL compare to nearby cities? ▼
Morris, IL offers a more affordable alternative to nearby communities. With a cost of living index of 92, median home prices of $319,000, and a crime rate of 16.02 per 1,000 residents, you can compare these metrics side-by-side. Use the compare feature to evaluate specific cities.
What is the weather like in Morris, IL? ▼
Weather in Morris, IL varies by season. Climate data varies by season. View detailed Morris climate & environment data →
Is it better to rent or buy in Morris, IL? ▼
With a median home price of $319,000 and average rents of $2,233/month, the price-to-rent ratio in Morris is 11.9x. This favors buying, as monthly mortgage payments may be comparable to or lower than rent. See full cost analysis →
What is the price per square foot in Morris, IL? ▼
The median price per square foot in Morris is $179, which is 17% below the national median of ~$215/sqft. This reflects the area's demand, construction costs, and proximity to employment centers.
How fast do homes sell in Morris, IL? ▼
Homes in Morris spend a median of 43 days on market before going under contract. This indicates homes take longer than the national median of 42 days, giving buyers more negotiating room. View full market data →
Explore More About Morris, IL
📅 Last Updated: January 2026
Sources: U.S. Census Bureau, Zillow, Redfin