What percentage of people rent in Parsippany-Troy Hills Township, NJ?

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

40.4% (±2.5 points) of the occupied homes in Parsippany-Troy Hills Township, NJ are rented (2020–2024 American Community Survey).

That is 9,329 renting households against 13,746 that own their home.

In Parsippany-Troy Hills Township, the share of households that rent went from 40.4% in 2015–2019 to 40.4% in 2020–2024 (0.0 percentage points), not a measurable change.

Figures last updated on November 12, 2026.

Households that rent: 40.4% (±2.5 points)
Renting households: 9,329 (±745)
Median renter income: $92,584 (±$6,739)

Who rents and who owns in Parsippany-Troy Hills Township

Tenure, estimate (90% margin of error)
	Parsippany-Troy Hills Township	Morris County	New Jersey	United States
Renter-occupied share	40.4% (±2.5 points)	25.7% (±0.8 points)	36.2% (±0.2 points)	34.8%
Renting households	9,329 (±745)	49,683 (±1,568)	1,268,573 (±8,082)	45,017,354
Owning households	13,746 (±488)	143,562 (±1,613)	2,239,128 (±10,678)	84,210,142
Average renter household size	1.9 (±0.1)	2.1 (±0.0)	2.4 (±0.0)	2.3
Average owner household size	2.8 (±0.1)	2.8 (±0.0)	2.8 (±0.0)	2.6
Median renter household income	$92,584 (±$6,739)	$79,949 (±$4,109)	$62,674 (±$718)	$52,966
Median owner household income	$149,208 (±$15,053)	$165,144 (±$2,794)	$133,477 (±$624)	$100,009

In Parsippany-Troy Hills Township, the renter share is higher than in Morris County (25.7%).

It is also higher than in New Jersey (36.2%).

It is higher than the national figure (34.8%).

In Morris County, Parsippany-Troy Hills Township ranks 6 of 39 places with a published estimate, from highest to lowest renter share.

Statewide, it ranks 122 of 564.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How renting in Parsippany-Troy Hills Township has changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
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 household income	$102,408 (±$2,933)	$112,327 (±$5,991)	+9.7%	Down 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.

Households that rent in places near Parsippany-Troy Hills Township

Nearest places with a published estimate, compared with Parsippany-Troy Hills Township
Place	Distance	Households that rent	Compared with this place
Parsippany-Troy Hills Township	—	40.4% (±2.5 points)	—
Mountain Lakes Borough	2.4 mi	3.9% (±2.4 points)	Lower
Whippany	2.5 mi	12.7% (±2.9 points)	Lower
Hanover Township	2.8 mi	21.0% (±4.9 points)	Lower
Morris Plains Borough	3.0 mi	28.4% (±7.4 points)	Lower
Boonton Town	3.2 mi	37.9% (±6.2 points)	Not measurably different
Cedar Knolls	3.3 mi	41.1% (±12.4 points)	Not measurably different
Denville Township	3.9 mi	12.3% (±3.7 points)	Lower
Pine Brook	4.2 mi	35.3% (±10.4 points)	Not measurably different

Nearby places with a measurably lower figure: Mountain Lakes Borough, NJ (3.9%), Whippany, NJ (12.7%), Hanover Township, NJ (21.0%).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Households that rent across Morris County, place by place

Rank	Place	Households that rent
1	Victory Gardens Borough	67.1% (±11.2 points)
2	Morristown Town	63.3% (±3.4 points)
3	Dover Town	54.0% (±6.5 points)
4	Netcong Borough	42.2% (±12.3 points)
5	Wharton Borough	41.0% (±8.2 points)
6	Parsippany-Troy Hills Township	40.4% (±2.5 points)
7	Rockaway Borough	39.6% (±9.6 points)
8	Mount Olive Township	39.1% (±3.3 points)
9	Boonton Town	37.9% (±6.2 points)
10	Madison Borough	36.2% (±3.6 points)
11	Butler Borough	31.2% (±5.0 points)
12	Florham Park Borough	30.2% (±5.0 points)

Showing 12 of 39 places in Morris County, ranked from highest to lowest.

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

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).

Is renting growing in Parsippany-Troy Hills Township?

In Parsippany-Troy Hills Township, the share of households that rent went from 40.4% in 2015–2019 to 40.4% in 2020–2024 (0.0 percentage points), not a measurable change.

How big are renting households in Parsippany-Troy Hills Township?

A renting household in Parsippany-Troy Hills Township has 1.9 people on average, against 2.8 in an owned home.

How much do renters earn in Parsippany-Troy Hills Township?

The median renting household in Parsippany-Troy Hills Township, NJ has an income of $92,584 (±$6,739) a year, against $149,208 for households that own their home.

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) and detailed tables (acs/acs5) 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 DP04_0047PE, DP04_0047PM, B25064_001E, B25064_001M, B19013_001E, B19013_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0047PE, DP04_0047PM, DP04_0047E, DP04_0047M, DP04_0046E, DP04_0046M, DP04_0049E, DP04_0049M, DP04_0048E, DP04_0048M, B25119_003E, B25119_003M, B25119_002E, B25119_002M

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.