| ZIP Code | 07054 |
|---|---|
| City | Parsippany |
| State | New Jersey (NJ) |
| County | Morris County |
| Area Code | 862 |
| Elevation | 249 ft |
| Latitude | 40.853767 |
|---|---|
| Longitude | -74.401574 |
| Timezone | New York (DST) |
| FIPS | 34027 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 41.3 yrs |
|---|---|
| Avg Household Size | 2.46 |
| Below Poverty | 5.5% ▼ 45% below avg |
| College Grads | 68.2% ▲ 76% above avg |
| Unemployment | 5.8% ▲ 19% above avg |
| No HS Diploma | 400 (1.9%) |
| HS Graduate | 3,635 (17.3%) |
| Some College | 1,017 (4.8%) |
| Associates | 1,628 (7.7%) |
| Bachelors | 1,323 (6.3%) |
| Graduate Degree | 13,013 (61.9%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $107,955 ▲ 41% above avg ↑ 9% since 2019 |
|---|---|
| Median Home Value | $569,000 ▲ 104% above avg ↑ 23% since 2019 |
| Home/Income Ratio | 5.3x (nat avg ~3.5x) |
| Median Rent | $1,725/mo ↑ 25% since 2019 |
| Total Units | 12,497 |
| Vacant Units | 363 |
| Avg HH Size | 2.46 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 12,497 |
|---|---|
| Vacant | 363 |
| Owner Occupied | 49.9% |
| Renter Occupied | 50.1% |
| Avg HH Size | 2.46 |
ZIP code 07054 is located in Parsippany, New Jersey, within Morris County. With a population of 30,139, this is a moderately populated ZIP code with a middle-aged community — the median age is 41.3 years. Economically, 07054 is a upper-middle-income ZIP code: the median household income of $107,955 is above the national average.
Real estate in ZIP code 07054 represents a premium housing market. The median home value of $569,000 is more than double the national average. Renters can expect to pay around $1,725 per month in median rent. The area has a relatively balanced mix of owners (49.9%) and renters (50.1%). Median home values have increased by 23% since 2019.
The population of 07054 is racially diverse, with White as the largest group at 44.0%. Residents are highly educated — 68.2% hold a bachelor's degree or higher, which is significantly above the national average. Poverty affects a relatively small share of residents at 5.5%. Household income has grown by 9% since 2019.
The unemployment rate in 07054 stands at 5.8%, which is above the national average. About 17% of workers are remote. As in most parts of the country, driving alone is the dominant commute mode at 68%.
Overall, ZIP code 07054 in Parsippany, NJ is characterized as upper-middle-income, highly educated, and a middle-aged community. With 30,139 residents, a median household income of $107,955, and a median home value of $569,000, it offers a clear picture of life in this part of New Jersey.