Is Parsippany-Troy Hills Township, NJ growing?

Name: Growth in Parsippany-Troy Hills Township, NJ, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

Parsippany-Troy Hills Township, NJ had an estimated 56,397 (±73) residents in 2020–2024, against 52,407 in 2015–2019.

That is a change of +7.6%, a measurable increase.

Its housing went from 20,422 to 23,622 homes (+15.7%), a measurable increase.

0.3% of today’s homes were built in 2020 or later.

Figures last updated on November 12, 2026.

Residents now: 56,397 (±73)
Amount of change: +7.6%
Homes change: +15.7%
Built 2020 or later: 0.3%

Residents and homes in Parsippany-Troy Hills Township, 2015–2019 and 2020–2024

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	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
Households that rent	40.4% (±1.6 points)	40.4% (±2.5 points)	0.0 percentage points	Not a measurable change
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

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.

Growth in Parsippany-Troy Hills Township against Morris County, its state and the nation

Change between 2015–2019 and 2020–2024
	Residents	Verdict	Housing units
Parsippany-Troy Hills Township	+7.6%	Measurable increase	+15.7%
Morris County	+4.3%	Measurable increase	+3.2%
New Jersey	+5.2%	Measurable increase	+4.8%
United States	+3.1%	Measurable increase	+4.6%

A change in a place’s boundaries between the two periods (an annexation, say) changes its counts as well; the Census Bureau’s figures are for the place as it was drawn in each period.

New homes in Parsippany-Troy Hills Township

Housing units by year built, 2020–2024
Year built	Parsippany-Troy Hills Township	Morris County	New Jersey	United States
2020 or later	0.3% (±0.2 points)	0.9%	1.1%	2.0%
2010 to 2019	3.2% (±1.0 points)	5.2%	6.2%	9.4%
2000 to 2009	6.0% (±1.1 points)	7.5%	9.2%	13.6%

3.5% of the homes in Parsippany-Troy Hills Township were built in 2010 or later.

The median age of residents is 42.5 years.

Growth in places near Parsippany-Troy Hills Township

Change in residents between 2015–2019 and 2020–2024
Place	Distance	Residents now	Amount of change	Verdict
Parsippany-Troy Hills Township	—	56,397	+7.6%	Measurable increase
Mountain Lakes Borough	2.4 mi	4,585	+7.4%	Measurable increase
Hanover Township	2.8 mi	14,769	+2.6%	Measurable increase
Morris Plains Borough	3.0 mi	6,315	+9.9%	Measurable increase
Boonton Town	3.2 mi	8,854	+5.4%	Measurable increase
Denville Township	3.9 mi	17,205	+3.6%	Measurable increase
East Hanover Township	4.2 mi	11,152	+0.7%	Measurable increase
Boonton Township	4.9 mi	4,423	+3.1%	Measurable increase
Montville Township	5.0 mi	22,876	+7.0%	Measurable increase

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

Is Parsippany-Troy Hills Township growing?

Parsippany-Troy Hills Township, NJ had an estimated 56,397 residents in 2020–2024 and 52,407 in 2015–2019, a change of +7.6%: a measurable increase by the Census Bureau’s test.

How many homes have been added in Parsippany-Troy Hills Township?

The estimated number of housing units went from 20,422 in 2015–2019 to 23,622 in 2020–2024 (+15.7%), a measurable increase.

How much new construction is there in Parsippany-Troy Hills Township?

0.3% of homes in Parsippany-Troy Hills Township were built in 2020 or later and 3.2% between 2010 and 2019.

Sources

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, B25001_001E, B25001_001M, DP04_0047PE, DP04_0047PM, B25064_001E, B25064_001M, B25077_001E, B25077_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0017PE, DP04_0017PM, DP04_0018PE, DP04_0018PM, DP05_0018E, DP05_0018M

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.