HomeMinnesotaRice CountyMorristown city
Morristown city, Minnesota: commercial real estate data.
Morristown city is a Census city of 1,265 people across 1.12 square miles of land, in Rice County. Median household income is $83,059, 76.7 percent of occupied homes are owned, and the SBA record carries 3 7(a) approvals to borrowers here worth $573,000.
66 sourced place values · tier FULL · 7 sections
Morristown
What Morristown is
- Census place typecity
- Land area1.12 sq mi
- Water area0 sq mi
- Population per square mile of land1,126
- County holding the largest share of its areaRice County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Morristown
How many people live in Morristown
- Population1,265
- Median age36.7
- Population under 18325 plus or minus 89
- Share under 1825.7 percent plus or minus 5.6
- Population 65 and over131 plus or minus 39
- Share 65 and over10.4 percent plus or minus 2.6
- Households467
- Family households312 plus or minus 73
- Share of households that are families66.8 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Morristown
Income and work in Morristown
- Median household income$83,059
- Per capita income$41,252
- Civilian labor force689
- Employed654
- Unemployed35 plus or minus 19
- Unemployment rate5.1 percent plus or minus 2.6
- Adults 25 and over832
- Adults 25 and over with a high school diploma or higher88.5 percent
- Adults 25 and over with a bachelor degree or higher11.7 percent plus or minus 5.5
- Adults 25 and over with a graduate degree1.3 percent plus or minus 1.5
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Morristown
Housing in Morristown
- Housing units512
- Occupied units467
- Vacant units45 plus or minus 28
- Vacancy rate8.8 percent plus or minus 5.3
- Owner occupied358
- Renter occupied109 plus or minus 59
- Ownership rate76.7 percent plus or minus 16.9
- Median owner-occupied home value$184,800
- Median gross rent, monthly$1,018 plus or minus $511
- Annual rent as a share of median income14.7 percent plus or minus 7.5
- Single family units398
- Share single family77.7 percent
- Units in buildings of two or more31 plus or minus 17
- Share in buildings of two or more6.1 percent plus or minus 3.3
- Mobile homes83 plus or minus 52
- Median year structure built1960
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Morristown
How Morristown gets to work
- Workers 16 and over who commute602
- Commuting under 15 minutes80 plus or minus 32
- Share commuting under 15 minutes13.3 percent plus or minus 4.7
- Commuting 30 minutes or more250 plus or minus 80
- Share commuting 30 minutes or more41.5 percent plus or minus 11.0
- Drove alone85.6 percent
- Carpooled7.6 percent plus or minus 3.3
- Public transport0.0 percent
- Walked0.0 percent
- Worked from home6.7 percent plus or minus 2.9
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Morristown
SBA 7(a) lending to Morristown borrowers
- Approvals3
- Gross approval$573,000
- Average approval$191,000
- Median approval$100,000
- Ninetieth percentile approval$383,000
- Largest approval$383,000
- Jobs supported21
- Jobs per approval7.0
- Loans with a final outcome2
- Paid in full2
- Charged off0
- Median term240 months
- Share on real estate terms of 20 years or more66.7 percent
- Share to franchises0.0 percent
- Distinct lenders3
- Distinct industries by NAICS3
A charge-off rate is not published here. only 2 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Rice County, not Morristown
Rice County context, not Morristown figures
These are Rice County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Morristown measurements.
- Establishments in Rice County1,600
- Employment at those establishments, Rice County25,126
- Covered employment, Rice County26,196
- Average annual pay, Rice County$60,604
- Average weekly wage, Rice County$1,165
- Housing units permitted, Rice County96
- Of those, single family, Rice County88
- County product, 2024, Rice County$4,083,370,000
- County product change over the prior year, Rice County8.3 percent
- Average income of an arriving household, Rice County$70,255
Every figure in this section is published for Rice County as a whole and is not a measurement of Morristown. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Morristown questions, answered from the record.
How many people live in Morristown, Minnesota?
1,265, in 467 households. Morristown city covers 1.12 square miles of land, which is 1,126 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Morristown in?
Rice County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Morristown?
$83,059. The median owner-occupied home is valued at $184,800. Median gross rent is $1,018 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Morristown businesses?
3 7(a) approvals totalling $573,000, across 3 lenders, median approval $100,000. These count approvals to borrowers whose address is in Morristown, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Morristown borrowers get paid back?
No rate is published for Morristown. only 2 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Are the county figures on this page Morristown figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Rice County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Morristown.
Is zoning published for Morristown?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.
Nearby