Housing data for Parsippany, NJ
Parsippany, NJ has an estimated 21,345 residents and 9,400 homes (US Census Bureau, 2020–2024 American Community Survey).
It is an unincorporated community in Morris County.
51.6% of households rent.
The median gross rent is $1,742 a month.
Figures last updated on .
- Residents
- 21,345 (±1,106)
- Housing units
- 9,400 (±513)
- Households that rent
- 51.6%
- Median gross rent
- $1,742
What stands out in Parsippany
Households that rent: 51.6% (±3.2 points) in Parsippany, higher than in Morris County (25.7%).
Homes in buildings of 5 or more units: 40.7% (±4.3 points) in Parsippany, higher than in Morris County (19.2%).
Households without a vehicle: 12.6% (±3.1 points) in Parsippany, higher than in Morris County (5.1%).
Homes heated by fuel oil: 4.1% (±1.4 points) in Parsippany, lower than in Morris County (13.9%).
- Renters and owners in Parsippany
- Types of homes in Parsippany
- Commute and cars in Parsippany
- Heating fuel in Parsippany
Housing in Parsippany at a glance
- Median rent: $1,742 median gross rent a month
- Rent by bedrooms: $2,001 median gross rent, 2 bedrooms
- Rent burden: 41.1% of renters pay 30% or more of income
- Renters and owners: 51.6% of households rent
- Income and affordability: $99,405 median household income
- Home values: $555,400 median home value
- Homeowner costs: $3,145 median monthly cost with a mortgage
- Property taxes: $10,000 or more median real estate taxes a year
- Types of homes: 40.7% of homes are in buildings of 5 or more units
- Bedrooms: 45.4% of homes have 3 or more bedrooms
- Age of homes: 75.3% of homes were built before 1980
- Vacancy rate: 3.9% rental vacancy rate
- Heating fuel: 70.9% heat with utility gas
- Commute and cars: 27.5 minutes average trip to work
- How long people stay: 28.1% moved in since 2020
- Crowding and facilities: 2.8% of homes have more than 1 person per room
Parsippany against Morris County, its state and the nation
| Parsippany | Morris County | New Jersey | United States | |
|---|---|---|---|---|
| Residents | 21,345 (±1,106) | 514,528 (exact) | 9,343,809 (exact) | 334,922,499 |
| Housing units | 9,400 (±513) | 199,506 (±100) | 3,791,354 (±469) | 143,775,355 |
| Households that rent | 51.6% (±3.2 points) | 25.7% (±0.8 points) | 36.2% (±0.2 points) | 34.8% |
| Median gross rent | $1,742 (±$41) | $1,904 (±$30) | $1,720 (±$7) | $1,413 |
| Median household income | $99,405 (±$4,789) | $137,326 (±$2,991) | $103,556 (±$513) | $80,734 |
| Median home value | $555,400 (±$20,373) | $582,500 (±$5,640) | $454,400 (±$1,150) | $332,700 |
| Median real estate taxes (a year) | $10,000 or more | $10,000 or more | $9,590 (±$25) | $3,119 |
| Built before 1980 | 75.3% (±6.0 points) | 62.4% (±1.4 points) | 62.8% (±0.3 points) | 49.7% |
| Average commute | 27.5 minutes (±1.7) | 29.8 minutes (±0.4) | 30.5 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 93.4% (±2.4 points) | 95.2% (±0.4 points) | 92.8% (±0.1 points) | 91.0% |
| Median age of residents | 42.2 years (±2.1) | 42.6 years (±0.2) | 40.1 years (±0.1) | 38.9 years |
Parsippany covers 6.1 square miles of land, about 3,507 residents per square mile (Census Bureau Gazetteer).
Crime reported to police in Morris County
Parsippany has no police department of its own in the FBI’s figures, so this is the figure for Morris County as a whole.
In 2024, the police departments that report for Morris County recorded 48 violent and 643 property crimes per 100,000 residents.
A county-wide figure describes the whole county, not this place; crime varies from one community to the next.
ZIP codes in Parsippany
| ZIP code | Share of the ZIP’s land in this place | Residents | Median gross rent | Median home value | Median household income |
|---|---|---|---|---|---|
| 07054 | 43% | 29,480 | $1,731 | $587,000 | $104,214 |
A ZIP code is a mail route rather than a boundary, so the Census Bureau publishes figures for ZIP Code Tabulation Areas built from census blocks; the share column says how much of each one’s land lies in this place.
Places near Parsippany
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Troy Hills | 1.2 mi | $3,108 | $650,500 | 7.2% |
| Lake Hiawatha | 2.0 mi | $1,550 | $428,600 | 41.5% |
| Rainbow Lakes | 2.3 mi | $2,022 | $481,800 | 32.6% |
| Mountain Lakes Borough | 2.4 mi | $3,500 or more | $917,000 | 3.9% |
| Boonton Town | 2.8 mi | $1,849 | $495,400 | 37.9% |
| Whippany | 2.8 mi | $2,556 | $615,400 | 12.7% |
| Hanover Township | 3.2 mi | $2,813 | $629,600 | 21.0% |
| Mount Tabor | 3.3 mi | — | $454,800 | 7.3% |
Places in New Jersey most like Parsippany
| Place | Median gross rent | Median home value | Median household income | Households that rent |
|---|---|---|---|---|
| Somerville Borough | $1,802 | $435,700 | $103,760 | 57.0% |
| Caldwell Borough | $1,976 | $575,400 | $96,824 | 58.1% |
| Highland Park Borough | $1,873 | $471,700 | $104,694 | 59.7% |
| Little Ferry Borough | $1,783 | $429,300 | $85,750 | 54.3% |
| Englewood | $1,977 | $544,100 | $102,571 | 45.5% |
| Farmingdale Borough | $1,648 | $427,300 | $89,327 | 44.5% |
Matched on rent, home value, income, the share who rent, the age of the homes, the share in apartment buildings and the commute, each measured against the spread across New Jersey.
HUD Fair Market Rent for Parsippany, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $1,637 | $1,850 | $2,233 | $2,785 | $3,188 |
HUD income limits for Parsippany, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $29,050 | $48,450 | $74,800 |
| 2 people | $33,200 | $55,400 | $85,450 |
| 3 people | $37,350 | $62,300 | $96,150 |
| 4 people | $41,500 | $69,200 | $106,800 |
| 5 people | $44,850 | $74,750 | $115,350 |
| 6 people | $48,150 | $80,300 | $123,900 |
| 7 people | $51,500 | $85,850 | $132,450 |
| 8 people | $55,720 | $91,350 | $141,000 |
These are the limits HUD sets for its housing programs in the Newark, NJ HUD Metro FMR Area, where HUD’s median family income for fiscal year 2026 is $138,400.
A program can use its own limits; tax-credit and local programs often do.
Parsippany is a census-designated place: an unincorporated community the Census Bureau draws for statistics, with no municipal government of its own.
It lies inside Parsippany-Troy Hills Township, whose figures include it.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Parsippany
What is the average rent in Parsippany, NJ?
The Census Bureau publishes the median rather than the average: the median gross rent in Parsippany is $1,742 (±$41) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.
How much is a one-bedroom apartment in Parsippany?
The median gross rent for a one-bedroom home in Parsippany, NJ is $1,632 (±$51) a month (2020–2024 American Community Survey).
Are renters in Parsippany rent-burdened?
41.1% of renting households in Parsippany pay 30% or more of their income in gross rent, the share housing researchers usually call rent-burdened (2020–2024 American Community Survey).
How many renters are there in Parsippany?
Parsippany has an estimated 4,693 (±427) renting households, 51.6% of its occupied homes (2020–2024 American Community Survey).
What is the median household income in Parsippany?
The median household income in Parsippany is $99,405 (±$4,789) a year (2020–2024 American Community Survey).
What is the average home value in Parsippany, NJ?
The Census Bureau publishes the median: $555,400 (±$20,373) for owner-occupied homes in Parsippany (2020–2024 American Community Survey).
What ZIP codes are in Parsippany?
The ZIP code that covers Parsippany is 07054.
What is the median rent in ZIP code 07054?
The median gross rent in ZIP Code Tabulation Area 07054 is $1,731 (±$39) a month (2020–2024 American Community Survey).
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Parsippany CDP, New Jersey
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Parsippany CDP, New Jersey
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Parsippany CDP, New Jersey
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Parsippany CDP, New Jersey
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Parsippany CDP, New Jersey
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Parsippany CDP, New Jersey
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Parsippany CDP, New Jersey
- HUD Fair Market Rents, fiscal year 2027: Newark, NJ HUD Metro FMR Area
- HUD Income Limits, fiscal year 2026: Newark, NJ HUD Metro FMR Area
- US Census Bureau, American Community Survey 2020–2024 5-year estimates for ZIP Code Tabulation Areas
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Parsippany CDP, New Jersey (place:56430, in state:34).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .