All Countries
Parsippany, NJ
Full City Profile · New Jersey · Morris County County
4.0
/5.0
A
Great
21,869
Population
3,591/sq mi density
$102,152
Median Income
$55,467 per capita
$540,800
Home Value
$1,156,954 Zillow
$1,732
Median Rent
24.7% income on rent
52°F
Avg Temperature
275 sunny days/yr
A
Overall
4.0 / 5.0
Strong
A+
Economy
4.7 / 5.0
$102,152 median income, 3.7% unemployment
B+
Affordability
3.7 / 5.0
$540,800 home value, $1,732/mo rent
C+
Safety
2.5 / 5.0
0 violent crimes/100K
A+
Education
5.0 / 5.0
60.0% bachelor's degree or higher
Income Overview
Median Household Income
$102,152
36% above
US avg: $75,149
Per Capita Income
$55,467
42% above
US avg: $39,052
Unemployment Rate
3.7%
3% above
US avg: 3.6%
Poverty Rate
5.6%
55% below
US avg: 12.4%
Income Comparison: Parsippany vs. U.S. Average
Each bar shows Parsippany’s value as a percentage of the national average (100% line = U.S. avg)
Median Household
US: $75,149
$102,152
136%
Per Capita
US: $39,052
$55,467
142%
IRS Avg AGI
US: $72,000
$156,784
218%
Avg Weekly Wage
US: $1,432
$1,946
136%
Thin line = U.S. average (100%)
Employment & Commute
Avg Weekly Wage
$1,946
36% above US avg ($1,432)
Mean Commute Time
27 min
3% below US avg (28 min)
Work From Home
16.2%
7% above US avg (15.2%)
Drive Alone
69.1%
6% below US avg (73.2%)
Public Transit
3.4%
32% below US avg (5.0%)
County GDP
$74,395M
County-level GDP (BEA 2024)
How Residents Get to Work
Drive Alone
69.1%
Public Transit
3.4%
Work From Home
16.2%
Other
11.3%
Average commute time
27 minutes
US avg: 28 min
Business Landscape
Total Establishments
18,002
Restaurants
1,349
Healthcare
1,822
Retail
1,639
Manufacturing
496
Tax & Financial
IRS Avg Adjusted Gross Income
$156,784
118% above US avg ($72,000)
Avg Property Tax
$13,570
288% above US avg ($3,500)
Cost of Living Index
108.8
Above national average (100 = US avg)
Complete Economy Data
Income & Wages
| Median Household Income | $102,152 |
| Per Capita Income | $55,467 |
| IRS Avg Adjusted Gross Income | $156,784 |
| Avg Weekly Wage | $1,946 |
| County GDP | $74,395M |
Hardship Indicators
| Unemployment Rate | 3.7% |
| Poverty Rate | 5.6% |
| Gini Coefficient | 0.461 |
| Cost of Living Index | 108.8 |
Commute
| Mean Commute | 27 minutes |
| Drive Alone | 69.1% |
| Public Transit | 3.4% |
| Work From Home | 16.2% |
Businesses
| Total Establishments | 18,002 |
| Restaurants | 1,349 |
| Healthcare | 1,822 |
| Retail | 1,639 |
| Manufacturing | 496 |
Tax
| IRS Avg AGI | $156,784 |
| Avg Property Tax | $13,570 |