What is the median rent in Parsippany, NJ?

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

The median gross rent in Parsippany, NJ is $1,742 (±$41) a month, according to the US Census Bureau’s 2020–2024 American Community Survey.

That is across 4,516 rented homes; gross rent is the contract rent plus the utilities and fuels a renter pays separately.

Figures last updated on November 12, 2026.

Median gross rent: $1,742 (±$41)
Rented homes: 4,516 (±440)
$2,000 or more: 24.3%

How much rent costs in Parsippany

Share of rented homes in each gross-rent range, 2020–2024
Monthly gross rent	Parsippany	Morris County	New Jersey	United States
Less than $500	6.9% (±1.6 points)	4.1%	6.1%	6.3%
$500 to $999	2.7% (±2.3 points)	3.9%	7.9%	20.2%
$1,000 to $1,499	16.2% (±4.8 points)	17.5%	23.5%	28.1%
$1,500 to $1,999	49.9% (±6.7 points)	30.3%	28.5%	21.1%
$2,000 to $2,499	16.6% (±4.7 points)	17.6%	17.2%	12.0%
$2,500 to $2,999	5.1% (±3.0 points)	13.0%	7.9%	5.5%
$3,000 or more	2.6% (±2.7 points)	13.6%	8.9%	6.8%

The most common range is $1,500 to $1,999, paid by 49.9% of renting households.

24.3% of rented homes in Parsippany cost $2,000 or more a month.

Parsippany against Morris County, its state and the nation

Estimate (90% margin of error)
	Parsippany	Morris County	New Jersey	United States
Median gross rent	$1,742 (±$41)	$1,904 (±$30)	$1,720 (±$7)	$1,413
Rented homes paying rent	4,516 (±440)	48,017 (±1,617)	1,230,839 (±7,912)	42,849,984

In Parsippany, median gross rent is lower than in Morris County ($1,904).

It is not measurably different from New Jersey ($1,720).

It is higher than the national figure ($1,413).

In Morris County, Parsippany ranks 17 of 24 places with a published estimate, from highest to lowest median gross rent.

Statewide, it ranks 113 of 201.

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

Median gross rent in places near Parsippany

Nearest places with a published estimate, compared with Parsippany
Place	Distance	Median gross rent	Compared with this place
Parsippany	—	$1,742 (±$41)	—
Troy Hills	1.2 mi	$3,108 (±$944)	Higher
Lake Hiawatha	2.0 mi	$1,550 (±$143)	Lower
Rainbow Lakes	2.3 mi	$2,022 (±$225)	Higher
Mountain Lakes Borough	2.4 mi	$3,500 or more	—
Boonton Town	2.8 mi	$1,849 (±$115)	Not measurably different
Whippany	2.8 mi	$2,556 (±$1,057)	Not measurably different
Hanover Township	3.2 mi	$2,813 (±$227)	Higher
Pine Brook	3.6 mi	$2,366 (±$183)	Higher

Nearby places with a measurably lower figure: Lake Hiawatha, NJ ($1,550).

Nearby places with a measurably higher figure: Troy Hills, NJ ($3,108), Rainbow Lakes, NJ ($2,022), Hanover Township, NJ ($2,813).

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

Median gross rent across Morris County, place by place

Rank	Place	Median gross rent
11	Kenvil	$2,220 (±$82)
12	Ledgewood	$2,186 (±$1,001)
13	Rainbow Lakes	$2,022 (±$225)
14	Towaco	$1,950 (±$1,929)
15	Flanders	$1,862 (±$119)
16	Landing	$1,799 (±$123)
17	Parsippany	$1,742 (±$41)
18	Lake Hopatcong	$1,686 (±$231)
19	Long Valley	$1,655 (±$450)
20	Mount Hope	$1,585 (±$337)
21	Lake Hiawatha	$1,550 (±$143)
22	Stirling	$1,427 (±$462)
23	Budd Lake	$1,402 (±$44)

Showing 13 of 24 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 rent in Parsippany, NJ?

The Census Bureau publishes the median rather than the average: the median gross rent in Parsippany is $1,742 (±$41) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.

How many rentals in Parsippany cost more than $2,000 a month?

24.3% of rented homes in Parsippany have a gross rent of $2,000 or more a month, and 6.9% cost less than $500.

Is rent in Parsippany higher than in Morris County?

In Parsippany, median gross rent is lower than in Morris County ($1,904).

It is not measurably different from New Jersey ($1,720).

It is higher than the national figure ($1,413).

Is this the rent for an apartment listed today?

No: these are rents households reported paying across 2020–2024, not asking rents for vacant homes, which usually run higher.

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 B25064_001E, B25064_001M, DP04_0047PE, DP04_0047PM, DP04_0005E, DP04_0005M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0134E, DP04_0134M, DP04_0126E, DP04_0126M, DP04_0127PE, DP04_0127PM, DP04_0128PE, DP04_0128PM, DP04_0129PE, DP04_0129PM, DP04_0130PE, DP04_0130PM, DP04_0131PE, DP04_0131PM, DP04_0132PE, DP04_0132PM, DP04_0133PE, DP04_0133PM

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.