What is the rental vacancy rate in Parsippany-Troy Hills Township, NJ?

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

The rental vacancy rate in Parsippany-Troy Hills Township, NJ is 2.8% (±1.7 points) (2020–2024 American Community Survey).

The homeowner vacancy rate is 0.3% (±0.4 points).

547 (±178) homes, 2.3% of all housing units, were vacant, a count that includes seasonal homes and homes being sold or rented.

In Parsippany-Troy Hills Township, the rental vacancy rate went from 1.9% in 2015–2019 to 2.8% in 2020–2024 (+0.9 percentage points), not a measurable change.

Figures last updated on November 12, 2026.

Rental vacancy rate: 2.8% (±1.7 points)
Homeowner vacancy rate: 0.3% (±0.4 points)
Vacant homes: 547 (±178)

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

Estimate (90% margin of error)
	Parsippany-Troy Hills Township	Morris County	New Jersey	United States
Rental vacancy rate	2.8% (±1.7 points)	3.3% (±0.8 points)	3.5% (±0.2 points)	5.5%
Homeowner vacancy rate	0.3% (±0.4 points)	0.5% (±0.2 points)	0.7% (±0.1 points)	0.9%
Vacant housing units	547 (±178)	6,261 (±724)	283,653 (±4,943)	14,547,859

The rental vacancy rate is the share of rental homes that are vacant and for rent; it leaves out homes already rented but not yet moved into, and seasonal homes.

In Parsippany-Troy Hills Township, the rental vacancy rate is not measurably different from Morris County (3.3%).

It is not measurably different from New Jersey (3.5%).

It is lower than the national figure (5.5%).

Rental vacancy rate in places near Parsippany-Troy Hills Township

Nearest places with a published estimate, compared with Parsippany-Troy Hills Township
Place	Distance	Rental vacancy rate	Compared with this place
Parsippany-Troy Hills Township	—	2.8% (±1.7 points)	—
Mountain Lakes Borough	2.4 mi	0.0% (±46.6 points)	Not measurably different
Whippany	2.5 mi	0.0% (±9.1 points)	Not measurably different
Hanover Township	2.8 mi	0.0% (±3.6 points)	Not measurably different
Morris Plains Borough	3.0 mi	0.0% (±6.0 points)	Not measurably different
Boonton Town	3.2 mi	3.5% (±3.5 points)	Not measurably different
Cedar Knolls	3.3 mi	0.0% (±5.9 points)	Not measurably different
Denville Township	3.9 mi	22.9% (±14.9 points)	Higher
Pine Brook	4.2 mi	3.6% (±5.5 points)	Not measurably different

Nearby places with a measurably higher figure: Denville Township, NJ (22.9%).

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

Rental vacancy rate across Morris County, place by place

Rank	Place	Rental vacancy rate
6	Victory Gardens Borough	7.2% (±9.5 points)
7	Roxbury Township	6.9% (±6.1 points)
8	Randolph Township	5.6% (±5.6 points)
9	Rockaway Township	3.7% (±4.1 points)
10	Boonton Town	3.5% (±3.5 points)
11 (tie)	Montville Township	2.8% (±4.3 points)
11 (tie)	Parsippany-Troy Hills Township	2.8% (±1.7 points)
13 (tie)	Jefferson Township	2.4% (±3.2 points)
13 (tie)	Morristown Town	2.4% (±2.4 points)
15	Netcong Borough	2.0% (±3.4 points)
16 (tie)	Madison Borough	1.9% (±2.4 points)
16 (tie)	Mount Olive Township	1.9% (±2.2 points)
18	Dover Town	1.7% (±1.7 points)

Showing 13 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

Is it hard to find a rental in Parsippany-Troy Hills Township?

The rental vacancy rate in Parsippany-Troy Hills Township, NJ is 2.8% (±1.7 points); a low rate means few rental homes stand empty and for rent at any time, which usually means more competition for each one.

Is the rental market in Parsippany-Troy Hills Township tighter than it was?

In Parsippany-Troy Hills Township, the rental vacancy rate went from 1.9% in 2015–2019 to 2.8% in 2020–2024 (+0.9 percentage points), not a measurable change.

How many homes are vacant in Parsippany-Troy Hills Township?

An estimated 547 (±178) housing units, 2.3% of the total, including seasonal homes and homes waiting to be sold or rented.

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 DP04_0005E, DP04_0005M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0005E, DP04_0005M, DP04_0004E, DP04_0004M, DP04_0003E, DP04_0003M, DP04_0003PE, DP04_0003PM

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.