What is the median home value in Parsippany, NJ?

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

The median value of owner-occupied homes in Parsippany, NJ is $555,400 (±$20,373), as owners estimated it in the Census Bureau’s 2020–2024 American Community Survey.

Figures last updated on November 12, 2026.

Median home value: $555,400 (±$20,373)
Owner-occupied homes: 4,402 (±360)
Most common range: $500,000 to $999,999

Home values in Parsippany

Owner-occupied homes by value, 2020–2024
Value	Parsippany	Morris County	New Jersey	United States
Less than $50,000	1.1% (±0.7 points)	1.2%	2.5%	5.3%
$50,000 to $99,999	1.7% (±1.2 points)	1.0%	1.8%	6.1%
$100,000 to $149,999	2.5% (±1.8 points)	0.6%	2.2%	6.8%
$150,000 to $199,999	0.5% (±0.4 points)	0.8%	4.3%	9.0%
$200,000 to $299,999	3.4% (±1.8 points)	5.1%	12.9%	17.8%
$300,000 to $499,999	29.2% (±5.4 points)	30.3%	34.2%	26.9%
$500,000 to $999,999	60.7% (±5.4 points)	50.2%	34.5%	20.9%
$1,000,000 or more	1.0% (±0.8 points)	10.8%	7.6%	7.1%

The most common range is $500,000 to $999,999, 60.7% of owned homes.

Value is the owner’s own estimate of what the home and lot would sell for, not a sale price or an assessment.

Parsippany against Morris County, its state and the nation

Estimate (90% margin of error)
	Parsippany	Morris County	New Jersey	United States
Median home value	$555,400 (±$20,373)	$582,500 (±$5,640)	$454,400 (±$1,150)	$332,700
Owner-occupied homes	4,402 (±360)	143,562 (±1,613)	2,239,128 (±10,678)	84,210,142

In Parsippany, the median home value is lower than in Morris County ($582,500).

It is also higher than in New Jersey ($454,400).

It is higher than the national figure ($332,700).

In Morris County, Parsippany ranks 11 of 27 places with a published estimate, from highest to lowest median home value.

Statewide, it ranks 61 of 248.

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

Median home value in places near Parsippany

Nearest places with a published estimate, compared with Parsippany
Place	Distance	Median home value	Compared with this place
Parsippany	—	$555,400 (±$20,373)	—
Troy Hills	1.2 mi	$650,500 (±$22,941)	Higher
Lake Hiawatha	2.0 mi	$428,600 (±$23,465)	Lower
Rainbow Lakes	2.3 mi	$481,800 (±$59,954)	Lower
Mountain Lakes Borough	2.4 mi	$917,000 (±$70,958)	Higher
Boonton Town	2.8 mi	$495,400 (±$37,170)	Lower
Whippany	2.8 mi	$615,400 (±$29,611)	Higher
Hanover Township	3.2 mi	$629,600 (±$22,432)	Higher
Mount Tabor	3.3 mi	$454,800 (±$36,738)	Lower

Nearby places with a measurably lower figure: Lake Hiawatha, NJ ($428,600), Rainbow Lakes, NJ ($481,800), Boonton Town, NJ ($495,400).

Nearby places with a measurably higher figure: Troy Hills, NJ ($650,500), Mountain Lakes Borough, NJ ($917,000), Whippany, NJ ($615,400).

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

Median home value across Morris County, place by place

Rank	Place	Median home value
5	Towaco	$701,300 (±$43,143)
6	Stirling	$695,300 (±$61,079)
7	Troy Hills	$650,500 (±$22,941)
8	Cedar Knolls	$646,700 (±$43,314)
9	Gillette	$635,900 (±$41,495)
10	Whippany	$615,400 (±$29,611)
11	Parsippany	$555,400 (±$20,373)
12	Flanders	$552,900 (±$45,377)
13	Pompton Plains	$539,000 (±$42,519)
14	Succasunna	$529,100 (±$26,737)
15	Rainbow Lakes	$481,800 (±$59,954)
16	White Meadow Lake	$470,800 (±$15,026)
17	Lake Telemark	$464,100 (±$48,050)

Showing 13 of 27 places in Morris County, ranked from highest to lowest.

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 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).

Is this what homes in Parsippany sell for?

No: it is the value owners reported, which tends to lag the market; recent sale prices and an appraisal answer that question.

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 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 B25077_001E, B25077_001M, B25088_002E, B25088_002M, B25103_001E, B25103_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0089E, DP04_0089M, DP04_0046E, DP04_0046M, DP04_0081PE, DP04_0081PM, DP04_0082PE, DP04_0082PM, DP04_0083PE, DP04_0083PM, DP04_0084PE, DP04_0084PM, DP04_0085PE, DP04_0085PM, DP04_0086PE, DP04_0086PM, DP04_0087PE, DP04_0087PM, DP04_0088PE, DP04_0088PM

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.