Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 41.3 yrs |
|---|---|
| Avg HH 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 |
|---|---|
| Median Home Value | $569,000 ▲ 104% above avg |
| Home/Income Ratio | 5.3x (nat avg ~3.5x) |
| Median Rent | $1,725/mo |
| Total Housing Units | 12,497 |
| Vacant Units | 363 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Parsippany is a city in New Jersey, located in Morris County. The city spans 1 ZIP code and is home to approximately 30,139 residents. It is a middle-aged city, with a median age of 41.3 years.
Economically, Parsippany is a upper-middle-income community. The median household income of $107,955 is above the national average. Approximately 5.5% of residents live below the poverty line. The unemployment rate is 5.8%, above the national average.
The real estate market in Parsippany is a premium housing market. Median home values stand at $569,000, which is more than double the national average. Renters typically pay around $1,725 per month.
The population of Parsippany is highly educated. 68.2% of adults hold a bachelor's degree or higher — significantly above the national average. The community is racially diverse, with White as the largest group at 44.0%.
Parsippany, NJ offers residents above-average earning potential within New Jersey.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 07054 | 30,139 | $107,955 | $569,000 | $1,725 | 5.8% | 68.2% | 49.9% |