Parsippany, NJ Utility & Living Guide

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Tier 3 Location

Parsippany, NJ Utility & Living Guide

Parsippany offers a suburban lifestyle with convenient access to New York City and a strong business community.

Last updated: June 26, 2026
Total Utilities$305/mo
1BR Rent$1200/mo
Sales Tax7.5%
COL Index105 (+5% above national average)
Family Score6/10
Median Home$320,000
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⚠️ Natural Hazard History — Parsippany
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💰 Budget Calculator
🔌 Utilities
🏠 Housing
📊 Cost of Living
💰 Taxes
👨‍👩‍👧 Families
🧮 Tools

Monthly Utility Costs

⚡ Electric

$120/mo

Jersey Central Power & Light (JCP&L)
🔥 Gas

$50/mo

New Jersey Natural Gas
💧 Water

$45/mo

Parsippany-Troy Hills Water Department
🗑️ Garbage

$25/mo

Waste Management
📶 Internet

$65/mo

Combined Average Overhead $305/month

Housing Market

Rent & Property
1 Bedroom$1200/mo
2 Bedrooms$1600/mo
3 Bedrooms$2100/mo
Median Home Price$320,000
Property Tax Rate1.2%
Avg Childcare/mo$1000

Parsippany’s housing market is competitive with a mix of single-family homes and apartments. The median home price is slightly above the national average, reflecting its desirable location.

Cost of Living

Overall COL Index

105

US national avg = 100
vs National Avg

+5% above national average

Groceries

102

Transportation

98

Healthcare

100

Childcare/mo

$1000

Tax Rates

Tax Overview
Total Sales Tax7.5%
Property Tax Rate1.2%
<p>State 6.625% + County 0% + Local 0.875%</p>

New Jersey has a progressive income tax ranging from 1.4% to 10.75%.

Family & Relocation

Family Vibe Score
6/10
Safety Index

50

Higher = safer
School Rating

6.5/10

GreatSchools avg
Avg Childcare

$1000/mo

City Pulse

Population Trend
+3% (growing)
Political Climate
Purple (mixed Democratic and Republican)
Business Momentum
Moderate with key industries in pharmaceuticals and logistics
Top Local Concerns
Property taxes, traffic congestion, school funding
🚌 Transit for Families

Public transit is accessible but limited; most families rely on cars. Sidewalks are well-maintained in residential areas.

🎡 Top Kid Attractions
  • 🎯
    Lake Parsippany Park
  • 🎯
    Parsippany PAL
  • 🎯
    Knoll Country Club

Best Neighborhoods for Families

Lake Hiawatha and Mount Tabor are popular for families due to good schools and parks. Parsippany-Troy Hills offers a mix of affordability and amenities.

Household Budget Calculator

Estimate your real monthly cost of living in Parsippany based on your household profile.

Local Briefing & Neighborhood Pulse

Live Local News

Residents must adhere to local zoning laws and obtain permits for home renovations. Short-term rentals are regulated.

Parsippany is seeing growth in tech and healthcare sectors. The local economy is bolstered by its proximity to NYC.

Financial Tools

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📊 Parsippany — Census & Demographic Data

Official data from the US Census Bureau, American Community Survey.

💰 Median Household Income
$96,096
👤 Median Age
40.0
🏠 Homeownership Rate
48.6%
🔑 Renter Rate
51.4%
📉 Poverty Rate
5.8%
💼 Unemployment Rate
5.0%
📡 Internet Access
91.5%
🎓 College Educated
55.8%

☀️ Seasonal Utility Costs

Utility costs peak in winter due to heating needs. Summer sees moderate increases from air conditioning use.

🏛️ Local Tax Details

Key ZIP code level tax info: property tax millage rates vary by neighborhood, with no additional local surtaxes.

👶 Family & Stroller Friendliness

Score 7/10: good sidewalk quality, park access, but limited elevator access in transit.

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