Parsippany, New Jersey Demographics & Population 2026
During the 2020–2024 ACS period, Parsippany, New Jersey had a total population of 21,345, the 53rd largest community in New Jersey, with a median household income of $99,405, which is 4% lower than the state average. The poverty rate is 6.7%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Parsippany Quick Facts
How Parsippany Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 21,869 | 21,345 | -2.4% |
| Median household income | $102,152 | $99,405 | -2.7% |
| Median home value | $540,800 | $555,400 | +2.7% |
How Parsippany Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A diverse community with significant representation from multiple racial and ethnic groups.
State average: 66 | National average: 61
Education
Educational Attainment (Adults 25+)
Parsippany Rankings in New Jersey
Explore New Jersey Rankings
Other Cities in Morris County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Morristown | 20,453 | $121,340 | 7.8% | $567,600 |
| Dover | 18,563 | $73,737 | 14.2% | $366,700 |
| Madison | 16,447 | $171,471 | 3.2% | $943,200 |
| Florham Park | 13,564 | $158,696 | 8.7% | $791,400 |
| Lake Hiawatha | 11,018 | $104,663 | 3.4% | $428,600 |
| Pompton Plains | 10,971 | $117,959 | 5.6% | $539,000 |
| Lincoln Park | 10,957 | $123,397 | 2.9% | $443,300 |
| Budd Lake | 10,650 | $114,154 | 4.6% | $456,100 |
| Lake Hopatcong | 10,259 | $117,625 | 4.0% | $424,200 |
| Kinnelon | 10,013 | $187,438 | 2.0% | $706,400 |
Cities Similar to Parsippany
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Elmwood Park | 21,412 | $101,740 | $483,700 | 35.1% | 11.6% |
| Woodbridge | 20,756 | $104,926 | $390,000 | 36.2% | 11.1% |
| Palisades Park | 20,290 | $94,743 | $719,600 | 51.0% | 9.4% |
| Harrison | 20,369 | $93,013 | $505,800 | 50.7% | 11.8% |
| Roselle | 22,646 | $92,762 | $379,900 | 27.1% | 9.5% |
Population Overview
Parsippany is a small city located in New Jersey, within Morris County. The total population is 21,345. It ranks as the 53rd most populous out of 700 Census-designated places in New Jersey.
Age Demographics
The median age in Parsippany is 42.2 years. This is 5% higher than the state median of 40.1 years. 10.7% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.
Economy, Income & Housing
The median household income in Parsippany is $99,405. This is 4% lower than the state median of $103,556. It is also 23% higher than the national median of $80,734. The poverty rate stands at 6.7%. This is 31% lower than the state poverty rate of 9.7%. The unemployment rate is 6.2%. This is 2% lower than the state rate of 6.3%. The median home value is $555,400. Housing costs are 22% higher than the state median of $454,400. The home-value-to-income ratio is 5.6x. 48.4% of occupied housing units are owner-occupied. This homeownership rate is 24% lower than the state average of 63.8%.
Race & Ethnicity
The largest racial or ethnic group in Parsippany is Asian, making up 45.2% of the population. White (non-Hispanic) residents account for 37.0%. The Black or African American population (4.9%) is well below the state average of 12.2%. The Hispanic or Latino population (10.4%) is well below the state average of 22.5%. The Asian population is significantly higher than the state average (45.2% vs 10.1%).
Education
59.8% of residents aged 25 and older hold a bachelor's degree or higher. This is 37% higher than the state rate of 43.6%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 91.6%. Notably, 25.5% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Parsippany, New Jersey is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against New Jersey state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 700 Census-designated places in New Jersey. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Parsippany, New Jersey?
Parsippany, New Jersey has a population of 21,345 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Parsippany, NJ?
The median household income in Parsippany is $99,405, which is 23% higher than the national median of $80,734.
What is the poverty rate in Parsippany, NJ?
The poverty rate in Parsippany is 6.7%. This means approximately 1,429 residents live below the federal poverty line.
What is the racial makeup of Parsippany, New Jersey?
Parsippany's population is 37.0% White, 4.9% Black, 10.4% Hispanic/Latino, and 45.2% Asian.
What is the median home value in Parsippany, NJ?
The median home value in Parsippany is $555,400. The home-value-to-income ratio is 5.6x.
How educated is Parsippany, New Jersey?
59.8% of adults (25+) in Parsippany hold a bachelor's degree or higher, and 25.5% hold a graduate or professional degree.