Housing data for Parsippany-Troy Hills Township, NJ
Parsippany-Troy Hills Township, NJ has an estimated 56,397 residents and 23,622 homes (US Census Bureau, 2020–2024 American Community Survey).
It is a township in Morris County.
40.4% of households rent.
The median gross rent is $1,736 a month.
Its population grew measurably since 2015–2019 (+7.6%).
Figures last updated on .
- Residents
- 56,397 (±73)
- Housing units
- 23,622 (±598)
- Households that rent
- 40.4%
- Median gross rent
- $1,736
- Residents since 2015–2019
- +7.6%
What stands out in Parsippany-Troy Hills Township
Homes in buildings of 5 or more units: 34.5% (±3.6 points) in Parsippany-Troy Hills Township, higher than in Morris County (19.2%).
Households that rent: 40.4% (±2.5 points) in Parsippany-Troy Hills Township, higher than in Morris County (25.7%).
Homes heated by fuel oil: 7.6% (±1.3 points) in Parsippany-Troy Hills Township, lower than in Morris County (13.9%).
Renters paying 30% or more of income: 34.6% (±4.8 points) in Parsippany-Troy Hills Township, lower than in Morris County (45.2%).
- Types of homes in Parsippany-Troy Hills Township
- Renters and owners in Parsippany-Troy Hills Township
- Heating fuel in Parsippany-Troy Hills Township
- Rent burden in Parsippany-Troy Hills Township
Housing in Parsippany-Troy Hills Township at a glance
- Median rent: $1,736 median gross rent a month
- Rent by bedrooms: $2,004 median gross rent, 2 bedrooms
- Rent burden: 34.6% of renters pay 30% or more of income
- Renters and owners: 40.4% of households rent
- Income and affordability: $112,327 median household income
- Home values: $536,200 median home value
- Homeowner costs: $3,148 median monthly cost with a mortgage
- Property taxes: $10,000 or more median real estate taxes a year
- Types of homes: 34.5% of homes are in buildings of 5 or more units
- Bedrooms: 50.1% of homes have 3 or more bedrooms
- Age of homes: 72.0% of homes were built before 1980
- Vacancy rate: 2.8% rental vacancy rate
- Heating fuel: 74.1% heat with utility gas
- Commute and cars: 27.6 minutes average trip to work
- Crime reported to police: 67 violent crimes per 100,000 residents
- Growth: +7.6% residents since 2015–2019
- How long people stay: 23.1% moved in since 2020
- Crowding and facilities: 2.4% of homes have more than 1 person per room
Parsippany-Troy Hills Township against Morris County, its state and the nation
| Parsippany-Troy Hills Township | Morris County | New Jersey | United States | |
|---|---|---|---|---|
| Residents | 56,397 (±73) | 514,528 (exact) | 9,343,809 (exact) | 334,922,499 |
| Housing units | 23,622 (±598) | 199,506 (±100) | 3,791,354 (±469) | 143,775,355 |
| Households that rent | 40.4% (±2.5 points) | 25.7% (±0.8 points) | 36.2% (±0.2 points) | 34.8% |
| Median gross rent | $1,736 (±$42) | $1,904 (±$30) | $1,720 (±$7) | $1,413 |
| Median household income | $112,327 (±$5,991) | $137,326 (±$2,991) | $103,556 (±$513) | $80,734 |
| Median home value | $536,200 (±$16,245) | $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 | 72.0% (±4.6 points) | 62.4% (±1.4 points) | 62.8% (±0.3 points) | 49.7% |
| Average commute | 27.6 minutes (±1.2) | 29.8 minutes (±0.4) | 30.5 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 95.5% (±1.2 points) | 95.2% (±0.4 points) | 92.8% (±0.1 points) | 91.0% |
| Median age of residents | 42.5 years (±0.9) | 42.6 years (±0.2) | 40.1 years (±0.1) | 38.9 years |
Parsippany-Troy Hills Township covers 23.6 square miles of land, about 2,386 residents per square mile (Census Bureau Gazetteer).
How Parsippany-Troy Hills Township has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Residents | 52,407 (±52) | 56,397 (±73) | +7.6% | Measurable increase |
| Housing units | 20,422 (±366) | 23,622 (±598) | +15.7% | Measurable increase |
| Median gross rent | $1,392 (±$27) | $1,736 (±$42) | +24.7% | No measurable change after inflation |
| Median home value | $438,200 (±$6,782) | $536,200 (±$16,245) | +22.4% | No measurable change after inflation |
| Median household income | $102,408 (±$2,933) | $112,327 (±$5,991) | +9.7% | Down after inflation |
| Median owner cost with a mortgage | $2,714 (±$71) | $3,148 (±$103) | +16.0% | Down after inflation |
| Households that rent | 40.4% (±1.6 points) | 40.4% (±2.5 points) | 0.0 percentage points | Not a measurable change |
| Rental vacancy rate | 1.9% (±1.4 points) | 2.8% (±1.7 points) | +0.9 percentage points | Not a measurable change |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Crime reported to police in Parsippany-Troy Hills Township
In 2025, the Parsippany-Troy Hills Township Police Department reported 67 violent and 748 property crimes per 100,000 residents to the FBI.
ZIP codes in Parsippany-Troy Hills Township
| ZIP code | Share of the ZIP’s land in this place | Residents | Median gross rent | Median home value | Median household income |
|---|---|---|---|---|---|
| 07034 | 100% | 11,018 | $1,550 | $428,600 | $104,663 |
| 07054 | 100% | 29,480 | $1,731 | $587,000 | $104,214 |
| 07878 | 100% | 766 | — | $477,800 | $116,445 |
| 07950 | 59% | 21,651 | $2,612 | $589,900 | $153,762 |
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-Troy Hills Township
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Mountain Lakes Borough | 2.4 mi | $3,500 or more | $917,000 | 3.9% |
| Whippany | 2.5 mi | $2,556 | $615,400 | 12.7% |
| Hanover Township | 2.8 mi | $2,813 | $629,600 | 21.0% |
| Morris Plains Borough | 3.0 mi | $2,835 | $643,300 | 28.4% |
| Boonton Town | 3.2 mi | $1,849 | $495,400 | 37.9% |
| Cedar Knolls | 3.3 mi | $2,849 | $646,700 | 41.1% |
| Denville Township | 3.9 mi | $1,817 | $564,600 | 12.3% |
| Pine Brook | 4.2 mi | $2,366 | $767,200 | 35.3% |
Places in New Jersey most like Parsippany-Troy Hills Township
| Place | Median gross rent | Median home value | Median household income | Households that rent |
|---|---|---|---|---|
| Englewood | $1,977 | $544,100 | $102,571 | 45.5% |
| East Windsor Township | $1,626 | $397,400 | $105,208 | 38.9% |
| Spring Lake Heights Borough | $1,863 | $721,100 | $106,758 | 38.4% |
| Farmingdale Borough | $1,648 | $427,300 | $89,327 | 44.5% |
| Rockaway Borough | $1,587 | $448,100 | $107,053 | 39.6% |
| Preakness | $1,918 | $617,700 | $133,205 | 29.4% |
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-Troy Hills Township, 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-Troy Hills Township, 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.
Local rules in Parsippany-Troy Hills Township
Parsippany-Troy Hills Township has local landlord and tenant rules of its own on top of New Jersey law.
The figures for Parsippany-Troy Hills Township include the places inside it that have pages of their own: Lake Hiawatha, Mount Tabor, Parsippany, Rainbow Lakes, Troy Hills.
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-Troy Hills Township
What is the average rent in Parsippany-Troy Hills Township, NJ?
The Census Bureau publishes the median rather than the average: the median gross rent in Parsippany-Troy Hills Township is $1,736 (±$42) 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-Troy Hills Township?
The median gross rent for a one-bedroom home in Parsippany-Troy Hills Township, NJ is $1,617 (±$51) a month (2020–2024 American Community Survey).
Are renters in Parsippany-Troy Hills Township rent-burdened?
34.6% of renting households in Parsippany-Troy Hills Township 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-Troy Hills Township?
Parsippany-Troy Hills Township has an estimated 9,329 (±745) renting households, 40.4% of its occupied homes (2020–2024 American Community Survey).
What is the median household income in Parsippany-Troy Hills Township?
The median household income in Parsippany-Troy Hills Township is $112,327 (±$5,991) a year (2020–2024 American Community Survey).
What is the average home value in Parsippany-Troy Hills Township, NJ?
The Census Bureau publishes the median: $536,200 (±$16,245) for owner-occupied homes in Parsippany-Troy Hills Township (2020–2024 American Community Survey).
Is Parsippany-Troy Hills Township growing?
In Parsippany-Troy Hills Township, the number of residents went from 52,407 in 2015–2019 to 56,397 in 2020–2024 (+7.6%), a measurable increase.
What ZIP codes are in Parsippany-Troy Hills Township?
The ZIP codes that cover Parsippany-Troy Hills Township are 07034, 07054, 07878, 07950.
What is the median rent in ZIP code 07034?
The median gross rent in ZIP Code Tabulation Area 07034 is $1,550 (±$143) a month (2020–2024 American Community Survey).
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Parsippany-Troy Hills township, Morris County, New Jersey
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Parsippany-Troy Hills township, Morris County, New Jersey
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Parsippany-Troy Hills township, Morris County, New Jersey
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Parsippany-Troy Hills township, Morris County, New Jersey
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Parsippany-Troy Hills township, Morris County, New Jersey
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Parsippany-Troy Hills township, Morris County, New Jersey
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Parsippany-Troy Hills township, Morris County, 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
- FBI Uniform Crime Reporting Program, Crime Data Explorer: Parsippany-Troy Hills Township Police Department (ORI NJ0142900)
- FBI: Uniform Crime Reporting statistics and their proper use
- 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-Troy Hills township, Morris County, New Jersey (county subdivision:56460, in state:34 county:027).
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 .