Rent in Parsippany, NJ
A 2-bedroom in Parsippany, NJ (ZIP 07054) typically rents for about $2,005 a month, with a range of $2,005–$2,233. Owner-occupied homes in Morris County pay about 1.72% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $1,345 | $1,345–$1,637 | 1 |
| 1 bed | $1,634 | $1,634–$1,850 | 1 |
| 2 beds | $2,005 | $2,005–$2,233 | 1 |
| 3 beds | $2,136 | $2,136–$2,785 | 1 |
| 4 beds | $3,195 | $3,188–$3,195 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Parsippany ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Parsippany, NJ?
- About $2,005 a month: the median of the typical rents in 1 ZIP code, which range from $2,005–$2,233. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Parsippany, NJ?
- About $1,634 a month: the median of the typical rents in 1 ZIP code, which range from $1,634–$1,850. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Parsippany, NJ?
- About $2,136 a month: the median of the typical rents in 1 ZIP code, which range from $2,136–$2,785. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Parsippany, NJ?
- About $1,345 a month: the median of the typical rents in 1 ZIP code, which range from $1,345–$1,637. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Parsippany, NJ?
- About $3,195 a month: the median of the typical rents in 1 ZIP code, which range from $3,188–$3,195. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Parsippany, NJ?
- Owner-occupied homes in Morris County pay a typical 1.72% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Parsippany rent figures come from?
- Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).