Parsippany

Population: 21,869
Median household income: $102,152
Median home value: $540,800

Located in Morris County, New Jersey, Parsippany is a community with a population of 21,869. The median household income of $102,152 is below the Morris County median ($134,929).

From 2020 to 2023, Parsippany's population grew 7.0% from 20,439 to 21,869, while its median home value rose 21.3% from $446,000 to $540,800.

The median gross rent is $1,732. 60.0% of adults 25 and older hold a bachelor's degree or higher.

Demographics

ACS 2019–2023

Population: 21,869
Median age: 41.4 yrs
Median household income: $102,152
Median home value: $540,800
Median gross rent: $1,732
Housing units: 9,331
Homeownership rate: 49.3%
Bachelor's degree or higher: 60.0%
Unemployment rate: 5.4%

Trends

ACS 5-year · 2019–2023

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

Year	Population	Median household income	Median home value	Median gross rent
2020	20,439	$94,349	$446,000	$1,408
2021	21,931	$96,096	$454,400	$1,543
2022	21,806	$102,074	$517,500	$1,671
2023	21,869	$102,152	$540,800	$1,732

Each year is a US Census Bureau ACS 5-year estimate ending that year.

Age distribution

Under 54.4%

5 to 1712.4%

18 to 247.0%

25 to 3414.5%

35 to 4416.9%

45 to 5410.9%

55 to 6414.3%

65 to 749.6%

75 and over10.0%

	Count	Share
Under 5	973	4.4%
5 to 17	2,714	12.4%
18 to 24	1,534	7.0%
25 to 34	3,174	14.5%
35 to 44	3,688	16.9%
45 to 54	2,383	10.9%
55 to 64	3,126	14.3%
65 to 74	2,099	9.6%
75 and over	2,178	10.0%

Race & ethnicity

	Count	Share
White (non-Hispanic)	8,807	40.3%
Black or African American	801	3.7%
American Indian & Alaska Native	29	0.1%
Asian	9,898	45.3%
Native Hawaiian & Pacific Islander	0	0.0%
Some other race	52	0.2%
Two or more races	388	1.8%
Hispanic or Latino (any race)	1,894	8.7%

Educational attainment (age 25+)

No high school diploma7.6%

High school graduate16.6%

Some college or associate's15.8%

Bachelor's degree36.3%

Graduate or professional degree23.8%

	Count	Share
No high school diploma	1,265	7.6%
High school graduate	2,757	16.6%
Some college or associate's	2,632	15.8%
Bachelor's degree	6,035	36.3%
Graduate or professional degree	3,959	23.8%

Commute to work

Mean travel time to work: 27 min

Drove alone69.1%

Carpooled9.2%

Public transit3.4%

Walked0.6%

Bicycle0.6%

Worked from home16.2%

Other means0.9%

How workers get to work

	Count	Share
Drove alone	8,132	69.1%
Carpooled	1,083	9.2%
Public transit	399	3.4%
Walked	72	0.6%
Bicycle	65	0.6%
Worked from home	1,912	16.2%
Other means	110	0.9%

Travel time

	Count	Share
Under 15 min	2,436	24.7%
15 to 29 min	3,678	37.3%
30 to 44 min	2,084	21.1%
45 to 59 min	689	7.0%
60+ min	974	9.9%

Households

Average household size: 2.42
Poverty rate: 5.9% (1,282 of 21,862)

	Count	Share
Family households	6,046	67.0%
Nonfamily households	2,975	33.0%

Housing

Median year structure built: 1968

Occupancy

	Count	Share
Occupied	9,021	96.7%
Vacant	310	3.3%

Tenure (of occupied units)

	Count	Share
Owner-occupied	4,447	49.3%
Renter-occupied	4,574	50.7%

1-unit, detached47.3%

1-unit, attached4.0%

2 to 4 units9.3%

5 to 19 units12.6%

20 or more units26.7%

Mobile home & other0.1%

Units in structure

	Count	Share
1-unit, detached	4,411	47.3%
1-unit, attached	372	4.0%
2 to 4 units	872	9.3%
5 to 19 units	1,172	12.6%
20 or more units	2,493	26.7%
Mobile home & other	11	0.1%

Geography

Place GEOID: 3456430
Type (LSAD): 57
Land area: 6.09 sq mi
Water area: 0.78 sq mi
Center point: 40.8641, -74.4124