Parsippany, NJ

Population: 29,356
Average annual home appreciation rate: -0.30%
Total of homes for sale in this market:
Median home price: $418,581
Median Rent: $1,003 per room
Home price range: 38.79% of homes are between $364,001 – $455,000
Median sales price:
Number of homes:
Median foreclosure sales price:
Foreclosure discount:
Most common home type: 53.40% of homes are Single family detached
Number of vacant homes: 5.20%
Number of renters: 39.94%
Number of owner occupied: 60.06%
Number people living below poverty level: 6.10%
Unemployment rate: 6.3%
Is this area perfect for real estate deals going on right now? Based on the last 10 years, Parsippany has been neck and neck with the national average. There are still high rents in this area, which could be advantageous to the savvy buy and hold investor. It also needs be made known that the percentage of ‘troubled’ properties available are even higher than the total properties available for sale on the market here.

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