Madison vs Parsippany

A side-by-side comparison of Madison and Parsippany: population, income, housing, and more.

Madison and Parsippany are places in New Jersey. This page compares them across population, income, housing, education, commuting, and how each has changed since 2019.

Parsippany has the higher population (21,869 vs 16,464 in Madison). Madison has the higher median household income ($168,469 vs $102,152 in Parsippany). Madison has the higher median home value ($882,900 vs $540,800 in Parsippany).

Population, income & housing

	Madison	Parsippany
Population	16,464	21,869
Median age	39.0 yrs	41.4 yrs
Median household income	$168,469	$102,152
Median home value	$882,900	$540,800
Median gross rent	$2,248	$1,732
Housing units	5,721	9,331
Homeownership rate	64.2%	49.3%
Bachelor's degree or higher	70.7%	60.0%
Unemployment rate	6.8%	5.4%

Trends (ACS 5-year, 2019–2023)

	Madison	Parsippany
Population	16,377 → 16,464 (+0.5%)	20,439 → 21,869 (+7.0%)
Median household income	$146,157 → $168,469 (+15.3%)	$94,349 → $102,152 (+8.3%)
Median home value	$724,700 → $882,900 (+21.8%)	$446,000 → $540,800 (+21.3%)
Median gross rent	$1,807 → $2,248 (+24.4%)	$1,408 → $1,732 (+23.0%)

Madison

Population

16,37716,464

Median household income

$146,157$168,469

Median home value

$724,700$882,900

Median gross rent

$1,807$2,248

Parsippany

Population

20,43921,869

Median household income

$94,349$102,152

Median home value

$446,000$540,800

Median gross rent

$1,408$1,732

Age & race/ethnicity

Age distribution (share)

	Madison	Parsippany
Under 5	5.3%	4.4%
5 to 17	17.6%	12.4%
18 to 24	13.6%	7.0%
25 to 34	9.6%	14.5%
35 to 44	12.1%	16.9%
45 to 54	14.2%	10.9%
55 to 64	14.2%	14.3%
65 to 74	6.9%	9.6%
75 and over	6.5%	10.0%

Race & ethnicity (share)

	Madison	Parsippany
White (non-Hispanic)	73.8%	40.3%
Black or African American	1.1%	3.7%
American Indian & Alaska Native	0.0%	0.1%
Asian	5.8%	45.3%
Native Hawaiian & Pacific Islander	0.0%	0.0%
Some other race	0.4%	0.2%
Two or more races	4.6%	1.8%
Hispanic or Latino	14.2%	8.7%

Educational attainment (age 25+)

Share of adults 25+

	Madison	Parsippany
No high school diploma	3.3%	7.6%
High school graduate	14.6%	16.6%
Some college or associate's	11.4%	15.8%
Bachelor's degree	39.9%	36.3%
Graduate or professional degree	30.8%	23.8%

Commute to work

How workers get to work (share)

	Madison	Parsippany
Drove alone	52.9%	69.1%
Carpooled	3.4%	9.2%
Public transit	8.1%	3.4%
Walked	8.2%	0.6%
Bicycle	0.6%	0.6%
Worked from home	25.2%	16.2%
Other means	1.6%	0.9%

Housing

Units in structure (share)

	Madison	Parsippany
1-unit, detached	62.8%	47.3%
1-unit, attached	6.8%	4.0%
2 to 4 units	15.3%	9.3%
5 to 19 units	7.8%	12.6%
20 or more units	7.2%	26.7%
Mobile home & other	0.0%	0.1%

Poverty & households

	Madison	Parsippany
Poverty rate	2.8%	5.9%
Average household size	2.68	2.42
Mean commute (minutes)	27	27
Median year structure built	1959	1968