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According to a new study, Morristown is the 26th most expensive town in New Jersey and the fourth most expensive in Morris County.

|Updated Fri, Aug 4, 2023 at 1:23 am ET

MORRISTOWN, NJ — Have you ever wondered how affordable it is to have a home near Morristown?

According to a new report released this week, the average American household spends $24,557 per year on the most important household bills, but the average Morristown resident spends significantly more.

As the cost of living in the United States continues to rise, residents of Hawaii, California, New Jersey, Massachusetts, and Maryland may be feeling more pressure, as these states top the list of the most expensive.

Morris County is the most expensive county in New Jersey, according to doxo's 2023 State by State Bill Pay Market Report, which examines the $3.87 trillion U.S. consumer bill pay market.

The report, which reflects actual bill payment activity in more than 97 percent of U.S. zip codes, identifies the most and least expensive states for Americans to live in based on average monthly spending on actual household bill payments.

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According to the report, Morristown's bills are $13,980 higher than the national average, coming in at $38,537 per year and $3,211 per month.

"Household expenses in Morristown, New Jersey are 56.9 percent more than the U.S. average," the report states.

Morristown comes in as the 26th most expensive town in New Jersey and the fourth most expensive in Morris County, having been beaten by Chatham, Madison and Randolph.

One of the main contributors is Morristown's mortgage and rent prices. According to the study, the average mortgage payment in Morristown is $3,059, while the national average is $1,321. For renters, that price goes down to $1,994 in Morristown and $1,191 nationally.

Health insurance is one of the only categories in Morristown that is lower than in other areas. The average Morristown resident pays $103 per month for health insurance, compared to $120 nationally.

"As consumers navigate their household bills in today’s volatile marketplace, bill payers may feel left in the dark, not fully understanding how much they are truly paying each month," said Liz Powell, Senior Director of INSIGHTS at doxo.

Earlier this year, the National Low Income Housing Coalition released its annual report on rental costs, showing that many Americans make less than their area's "housing wage—the hourly, full-time wage needed to afford fair-market rent without spending more than 30 percent of their income.

According to the NLIHC, New Jersey has one of the highest minimum wages in the country, at $14.13 per hour.

However, Morristown's market rate for a two-bedroom apartment is $2,320 per month, which would necessitate an hourly wage of $44.62, which amounts to approximately $89,240 per year.

According to the NLIHC, 26 percent of tenant households in New Jersey earn less than what is required to afford two-bedroom rent. According to the report, even affording a "modest" one-bedroom apartment at market rate necessitates 79 minimum-wage hours per week.

View the NLIHC's full report: Out of Reach 2023: The High Cost of Housing.

A comedy movie starring Seth Rogan, Pete Davidson and Shailene Woodley was filmed in New Jersey – and Morris Co. was among the locations.

MORRIS COUNTY, NJ — A new American biographical comedy-drama film, “Dumb Money,” was filmed almost exclusively in New Jersey last fall – and Morris County was among the shooting destinations, officials say.

Saint Elizabeth University, located at 2 Convent Road in Morristown, was crawling with some Hollywood heavyweights last fall, according to Denise Panyik-Dale, Director of Communications and Marketing at Saint Elizabeth University.

According to the production company, “Dumb Money” tells the story of a ragtag group of amateur investors, gamers, and internet trolls who brought Wall Street to its knees by reviving the struggling brick-and-mortar video game retailer GameStop, thereby creating the first so-called meme stock.

The movie, which has a star-studded cast including Seth Rogen, Dane DeHaan, Vincent D’Onofrio Nick Offerman, America Ferrera, Shailene Woodley and Paul Dano, spent the fall of 2022 filming all around New Jersey, specifically in Hudson, Morris, Essex and Union counties.

D'Onofrio and Offerman play billionaire hedge fund CEOs, Steve Cohen and Ken Griffin, respectively, while Rogen portrays millionaire hedge fund CEO Gabe Plotkin and Dano plays financial analyst and investor Keith Gill, known for his posts on the subreddit r/wallstreetbets.

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Directed by Craig Gillespie who also directed "I, Tonya" and Disney's "Cruella,” the movie was released in the United States by Sony Pictures Releasing in limited theaters on Sept. 15, before expanding into wide release on Sept. 29.

“Dumb Money” is based on the 2021 book penned by Ben Mezrich, “The Antisocial Network: The GameStop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to Its Knees.”

The book covers the events of the GameStop short squeeze, which saw the collapse of Melvin Capital as users of r/wallstreetbets and other retail traders initiated a short squeeze on stocks like GameStop, AMC and Bed, Bath & Beyond.

The trailer for “Dumb Money” can be seen below.

This is not the first time Morristown has been on the big screen. Saint Elizabeth University, which used to be known as the College of Saint Elizabeth, was previously used as a filming location in 2019 for the Oscar-nominated film "The Trial of the Chicago 7," directed by Aaron Sorkin. That production was filmed at the college's Santa Maria Hall, which will be used again for "Dumb Money," according to Panyik-Dale.

Earlier this summer, downtown Morristown also saw some star-studded appearances, as actors Halle Berry and Mark Wahlberg came to town to film a scene for a new movie.

According to the application filed with the Town of Morristown, the actors were in town filming reshoots for their upcoming movie, "The Union."

The film was initially titled "Our Man From Jersey" and stars Oscar winner J.K. Simmons, Berry, Wahlberg, Oscar nominee Jackie Earle Haley and Adewale Akinnuoye-Agbaje.

NJ's Motion Picture and Television Commission keeps a list of all productions filmed in the Garden State.

Gov. Phil Murphy has said he wants to dramatically increase filmmaking in the state, and New Jersey offers movie studios one of the most generous tax incentives of any state in America.

State Officials Announce Two Key Projects to Safeguard Hudson River and Meadowlands Communities Against Climate Change-Induced Flooding.

In alignment with Climate Week, New Jersey's Commissioner of Environmental Protection, Shawn M. LaTourette, revealed a nearly $298 million investment in pioneering flood-resilience projects for areas in and around the Hudson River and the Meadowlands, thanks to funding from the U.S. Department of Housing and Urban Development's Rebuild by Design competition grant program.

Governor Phil Murphy and Commissioner Shawn M. LaTourette disclosed the ambitious plans, which target Hoboken and parts of Jersey City and Weehawken, along with the Meadowlands communities of Little Ferry, Carlstadt, Moonachie, South Hackensack, and Teterboro. The announcement comes during Climate Week, a period designated to raise public awareness about climate change and resilience measures.

"These projects are integral components of the Murphy Administration's comprehensive strategies to make the state more resilient," said Commissioner LaTourette. "We look forward to officially breaking ground in the coming weeks."

The Projects at a Glance

E.E. Cruz & Company of Whitestone, New York, has been granted a $251 million contract for the Rebuild by Design Hudson River (RBD-Hudson) Project. This involves constructing floodwalls, berms, and levees to provide resistance against extreme high tide and storm surge events. The project, set to begin in early 2024, will integrate aesthetic elements, such as seating and educational murals, at Harborside Park in Hoboken, which will be renamed Cove Park.

Union Paving & Construction Company of Mountainside, New Jersey, was awarded a $46.6 million contract for the Rebuild by Design Meadowlands (RBD-Meadowlands) Project. The work includes installing a new pump station and force main in Little Ferry to improve drainage in the Losen Slote Creek watershed, with construction beginning this fall.

Mayor Ravi S. Bhalla of Hoboken expressed that the project would render 80 percent of Hoboken free from flood zones. "I look forward to breaking ground on the resist element at Harborside Park in the coming months," said Mayor Ravi S. Bhalla.

Mayor Mauro Raguseo of Little Ferry highlighted the importance of the project for his community, stating, "When completed, this project will have a measurable impact in preventing flooding in a large area of our community."

Funding and Community Engagement

In addition to the initial awards, both projects have received extra funding from the American Rescue Plan and FEMA’s Building Resilient Infrastructure and Communities fund. Community engagement remains a cornerstone, with DEP encouraging public participation throughout the nine-year planning process and pledging ongoing involvement.

As the climate crisis intensifies, these two landmark projects signify New Jersey's forward-thinking approach to safeguarding its vulnerable communities. With ground-breaking ceremonies expected soon, residents are one step closer to a safer, more resilient future.

The DEP's updated climate change website offers a range of resources, including interactive story maps and research findings, to further educate the public about climate change impacts in New Jersey.

The Morristown football team seemed as if it was on cruise control all afternoon.

After the Colonials opened up their season with two early scores in their Week 0 matchup with Livingston, they did not appear threatened for the remainder of the contest.

Morristown made it look easy in moving to 1-0 with a 23-0 home win over Livingston, which marked the second straight season the Colonials opened with a win over the Lancers.

Complete Box Score »

“It feels great to start 1-0,” junior Reed Donegan said. “That’s our focus every week, so we just have to come out 1-0 next week. That’s what we have to work on.”

After the defense opened up with a three-and-out, it only took Morristown four plays to score. The Colonials opened the game with a reverse to Jeremiah Moreau that went for 17 yards. Three plays later, a fake handoff inside turned into an option pitch to Donegan for a 17-yard touchdown.

The early misdirection had the Livingston defense on its heels.

“Our game plan was to just be tough and physical,” Donegan said. “We put in a lot of effort and we started hot in the first half.”

Moreau then recovered a fumble on defense for Morristown on Livingston’s ensuing possession. Three plays later, Braden VanZile went untouched off the left edge for an eight-yard touchdown to put Morristown up 13-0 with 6:10 remaining in the first quarter.

That was all the Morristown defense needed as it did not allow Livingston to even get into the red zone all game long.

“I think the all-around effort was great,” Morristown head coach Casey Flynn said. “I put a high priority on the offensive and defensive lines. Their ability to continue to put pressure on the quarterback and to prevent as many yards gained as possible was a great job by them.”

However, the Morristown offense went silent for the remainder of the game as its only touchdown came on a forced fumble in the end zone by Alex Davis late in the fourth quarter. So, even in the dominating win there will still be areas to improve upon.

“We’ll have to see what the film shows,” Flynn said. “It was a good performance. We kind of stalled out on a few drives where we really should have chewed some more clock. I am proud of their effort. We just need to sustain more drives in the second half.”

Despite beating Livingston to open the season last year, the Colonials only won two more games the rest of the season. They will now be trying to avoid that same fate this time around.

“We just need to stick to the fundaments,” Donegan said. “We brought good effort today and we have to keep bringing that every week.”

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MORRISTOWN – Sanofi will join accounting firm Deloitte in a new office development downtown by the NJ Transit rail station.

Sanofi, which recently announced it will be moving all its 1,900 employees from its facility on Route 202-206 in Bridgewater to Morristown, will occupy the West Building at M Station being developed by SJP Properties in partnership with Scotto Properties. Deloitte is in the East Building at M Station.

SJP Properties also owns the Somerset Corporate Center on Route 202-206 in Bridgewater opposite the Bridgewater Commons.

Sanofi, the French-owned health care company, will transfer the employees in two phases during the fourth quarter of 2024 and first quarter of 2025.

“Every town needs a symbiotic blend of high-quality office, residential and retail development in order to create a thriving local economy,” said Steve Pozycki, founder and CEO of SJP Properties. “Mayor Tim Dougherty and his administration understood the necessity of bringing high-caliber corporate tenants to Downtown Morristown, which offers an energized nightlife, but lacked the daytime foot traffic critical to supporting local retailers that are the lifeblood of the community."

Sanofi's move from a suburban location along a highway to a downtown location next to a train station may signal a recent real estate trend in New Jersey of suburban office complexes built in the last decades of the 20th century experiencing sizable vacancies.

Several Central Jersey municipalities – Franklin, Bridgewater, Bernards and Warren – are seeing plans to demolish office buildings and replace them with warehouses.

The trend to build office space in Morristown near the NJ Transit train station mirrors Westfield's recent approval of a redevelopment plan for 310,000 square feet of office space in its downtown next to the train station and the vacant Lord & Taylor site.

Westfield officials said one of the main reasons for the redevelopment plan was to bring workers to the downtown area and increase foot traffic for downtown businesses.

Valley National Bank will also be moving its headquarters to Morristown to a new 120,000-square-foot building on Speedwell Avenue also being developed by SJP Properties and Scotto Properties.

M Station replaces a retail strip center on Morris Street between Lafayette Avenue and Spring Street. M Station's two buildings will be bridged by a 1,000-car parking structure that will be constructed in two phases and include public parking for the development's on-site retail.

M Station West will span 260,000 square feet with six stories of office space over ground floor retail space.

Email: [email protected]

Mike Deak is a reporter for mycentraljersey.com. To get unlimited access to his articles on Somerset and Hunterdon counties, please subscribe or activate your digital account.