Parsippany, NJ
Population 21,869 · New Jersey
About Parsippany, NJ
Parsippany is a mid-sized city in New Jersey with a population of 21,869 residents. The median household income is $102,152 per year, which is above the national average. The median age in Parsippany is 41.4 years.
Housing in Parsippany has a median home value of $540,800 and median monthly rent of $1,732. Of the 9,331 total housing units, renting is more common than owning, with 4,447 owner-occupied and 4,574 renter-occupied units.
The unemployment rate in Parsippany is 5.4% and the poverty rate is 5.9%. 60.0% of residents hold a bachelor's degree or higher. The average commute time is 26.8 minutes.
How Parsippany Ranks in New Jersey
Cost of Living in Parsippany, NJ
Compared to national averages, Parsippany has a median household income of $102,152 (36% above the national median of $75,149). Home values average $540,800, which is 121% above the national median. Monthly rent at $1,732 is 49% above the US average of $1,163. Within New Jersey, Parsippany's income is 12% below the state average of $115,667, and home values are 15% above the state median of $469,644.
Why Live in Parsippany, NJ?
Parsippany offers a strong local economy with a median household income of $102,152, well above the national average, and a well-educated community where 60.0% of residents hold a bachelor’s degree or higher, and a low poverty rate of 5.9%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $540,800. However, Parsippany’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Parsippany has a population of 21,869 with a median age of 41.4 years. Compare Parsippany with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Parsippany
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lindenwold | 21,534 | $55,099 | $168,300 | Compare |
| Secaucus | 21,437 | $134,746 | $557,800 | Compare |
| Hillsborough | 22,302 | $142,275 | $411,400 | Compare |
| Elmwood Park | 21,287 | $100,852 | $456,000 | Compare |
| Roselle | 22,455 | $82,967 | $336,500 | Compare |
| Summit | 22,512 | $199,107 | $969,900 | Compare |
| North Plainfield | 22,667 | $83,529 | $350,700 | Compare |
| Pleasantville | 20,604 | $52,403 | $177,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Parsippany
What is the population of Parsippany, NJ?
The population of Parsippany, NJ is 21,869 according to the latest Census data.
What is the median household income in Parsippany?
The median household income in Parsippany, NJ is $102,152 per year.
What is the median home value in Parsippany?
The median home value in Parsippany, NJ is $540,800.
What is the average rent in Parsippany?
The median monthly rent in Parsippany, NJ is $1,732.
What is the unemployment rate in Parsippany?
The unemployment rate in Parsippany, NJ is 5.4%.