PlainZIP

Parsippany, NJ · standard

ZIP Code 07054

Morris County, New Jersey - Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.

29,305
825/sq mi
$104,214
Median income
$587,000
Median home value
61.4%
Bachelor's or higher

The verdict

Parsippany pairs an upper-quartile household income with top-decile home values, in a low-density, mixed-tenure area.

Top 16%
household income, US ZIPs
Top 10%
home value, US ZIPs
825
people per sq mi
50%
owner-occupied homes

Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 07054 against every reporting US ZIP.

ZIP code 07054 is a densely settled ZIP (a standard USPS delivery area) in Parsippany, Morris County, New Jersey, with 29,305 residents across 35.5 square miles, a density of 825 people per square mile, in the New York time zone.

ZIP 07054 lands in the middle-income range, with a median household income of $104,214 (15% below the New Jersey average), while per-capita income is $59,281. Poverty here runs at 6.4%, with unemployment measured at 6.1%. Housing costs here run $587,000 for a typical home value (14% above the state average), with rent averaging $1,731 a month; 49.7% of homes are owner-occupied.

This is a highly-educated ZIP: 61.4% of adults hold a bachelor's degree or higher, the median age is 41.8, and the average commute is 27 minutes. A geography-based comparison follows: 10 ZIP codes within about 10 miles of 07054, plus 6 more within Morris County, give a clearer read than the national average alone.

Every figure on this page is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates (including median rent) and the FHFA House Price Index, no estimates, no proprietary scoring. Verify with Census →

Top industries in ZIP 07054

Top 5 sectors by establishment count in Parsippany, NJ

Which industries have the most business establishments in ZIP 07054.

establishments

What this shows Establishment counts come from the Census ZIP Code Business Patterns program, which counts physical business locations rather than employees or revenue.

Source U.S. Census Bureau · ZIP Code Business Patterns (ZBP) As of 2023

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + FHFA HPI ACS demographics and median rent, ZBP business establishments, FHFA HPI for ZIP 07054, Parsippany, NJ · 2023 Census ACS 5-Year Estimates use a rolling 60-month sample for stable small-geography estimates; ZBP updated annually; FHFA HPI updated quarterly/annually.

Quick Facts

29,305

Population

35.5

Area (sq mi)

825

People / sq mi

New York

Time Zone

standard

ZIP Type

Neighborhood Scorecard
Get an A-F grade across income, safety, housing, rent, education, commute, and childcare for this ZIP code.
View Scorecard →

Who lives in ZIP 07054?

41.8

Median Age

50.4%

Male

49.6%

Female

41.9%

Foreign-Born

White 42.2%
African American 4.1%
Asian 43.3%
American Indian or Alaska Native 0.2%
Native Hawaiian or Pacific Islander 0.0%
Two or More Ethnicities 7.6%
Hispanic or Latino 8.9%

Hispanic or Latino is an ethnicity category from the Census Bureau and may overlap with other categories above.

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

How much do residents earn?

$104,214

Median Household Income

-15% vs state

$59,281

Per Capita Income

6.4%

Poverty Rate

6.1%

Unemployment Rate

27.2 min

Mean Commute Time

How ZIP 07054 ranks nationally

Parsippany, NJ household income vs. every US ZIP code

Median household income, the full national distribution, with this ZIP marked

$104,214 Top 16% higher than 84% of 30,318 US ZIPs

$0–$20,000: 118 US ZIPs (0%). Below this entry. $20,000–$40,000: 1,573 US ZIPs (5%). Below this entry. $40,000–$60,000: 7,092 US ZIPs (23%). Below this entry. $60,000–$80,000: 9,980 US ZIPs (33%). Below this entry. $80,000–$100,000: 5,778 US ZIPs (19%). Below this entry. $100,000–$120,000: 2,855 US ZIPs (9%). This entry sits in this band. $120,000–$140,000: 1,362 US ZIPs (4%). Above this entry. $140,000–$160,000: 686 US ZIPs (2%). Above this entry. $160,000–$180,000: 364 US ZIPs (1%). Above this entry. $180,000–$200,000: 186 US ZIPs (1%). Above this entry. $200,000–$220,000: 324 US ZIPs (1%). Above this entry. This ZIP $0 $200K+ every reporting US ZIP, bucketed by value

Each bar is a $20K-wide band; taller bars hold more US ZIPs. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.

Source U.S. Census Bureau, ACS 5-Year Estimates · 2019–2023

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

What is the education profile here?

High School Graduate or Higher 77.5%
Bachelor's Degree or Higher 61.4%

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

What does housing look like?

12,607

Total Housing Units

12,252

Occupied Units

355

Vacant Units

2.39

Avg Household Size

Occupancy Type

Owner 49.7%
Renter 50.3%

$587,000

Median Home Value

+14% vs state

$1,731

Median Rent

1969

Median Year Built

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

How have home values changed over time?

FHFA House Price Index, annual appreciation data based on repeat sales and appraisals

+5.2%

YoY Change (2024)

246

HPI Index (2000 = 100)

+146%

Total Change Since 2000

Home values in ZIP 07054 have increased 5.2% over the past year (2024). Since 2000, this ZIP has seen +146% cumulative appreciation.

Year Annual Change HPI Index
2020 +0.7% 176
2021 +6.8% 188
2022 +11.6% 210
2023 +11.4% 234
2024 +5.2% 246

Source: Federal Housing Finance Agency (FHFA) House Price Index, All-Transactions, Five-Digit ZIP Codes (Developmental Index). Index base = 100 in year 2000. Data through 2024. ZIP codes with few transactions may show missing values.

What businesses operate in this ZIP?

Census Bureau data shows 1,635 business establishments in ZIP 07054, employing approximately 49,755 people with a combined annual payroll of $5,825,320,000.

1,635

Businesses

49,755

Employees

$5.8B

Annual Payroll

16

Industry Sectors

Industry Establishments % of Total
Professional, scientific, and technical services 352 21.5%
Finance and insurance 161 9.8%
Health care and social assistance 145 8.9%
Administrative and support and waste management and remediation services 142 8.7%
Accommodation and food services 135 8.3%
Retail trade 118 7.2%
Wholesale trade 112 6.8%
Real estate and rental and leasing 97 5.9%
Other services (except public administration) 80 4.9%
Construction 71 4.3%
Management of companies and enterprises 50 3.1%
Transportation and warehousing 47 2.9%
Manufacturing 41 2.5%
Information 40 2.5%
Educational services 22 1.4%
Arts, entertainment, and recreation 21 1.3%

Source: U.S. Census Bureau, ZIP Code Business Patterns (ZBP), 2023. Employment figures may include noise for disclosure avoidance.

Nearby ZIP Codes

Want a side-by-side? Compare 07054 vs 07034 →

ZIP 07054 vs its nearest neighbors, by population

Resident population of this ZIP and the closest reporting ZIP codes within ~10 miles.

residents

What this shows Among its immediate neighbors, ZIP 07054 ranks the most populous - useful context the national average alone can't give.

Source U.S. Census Bureau · ACS 5-Year Estimates As of 2019–2023

ZIP 07054 vs its nearest neighbors, by median income

Median household income of this ZIP and the closest reporting ZIP codes within ~10 miles.

median income

What this shows By household income, ZIP 07054 ranks #null of 9 neighboring ZIPs, local affluence varies block to block, not just metro to metro.

Source U.S. Census Bureau · ACS 5-Year Estimates As of 2019–2023
ZIP Code City Population Distance
07034 Lake Hiawatha, NJ 9,360 2.0 mi
07981 Whippany, NJ 8,865 2.5 mi
07058 Pine Brook, NJ 5,372 3.2 mi
07046 Mountain Lakes, NJ 4,194 3.1 mi
07936 East Hanover, NJ 11,157 3.2 mi
07927 Cedar Knolls, NJ 3,403 3.6 mi
07932 Florham Park, NJ 9,868 5.5 mi
07045 Montville, NJ 10,127 4.2 mi
07878 Mount Tabor, NJ 934 4.0 mi
07950 Morris Plains, NJ 19,564 4.3 mi

More ZIP Codes in Morris County

07960 standard
Morristown, NJ
Pop: 43,747
07801 standard
Dover, NJ
Pop: 25,386
07869 standard
Randolph, NJ
Pop: 25,291
07866 standard
Rockaway, NJ
Pop: 22,098
07950 standard
Morris Plains, NJ
Pop: 19,564
07928 standard
Chatham, NJ
Pop: 19,144

Related Areas

Morris County Parsippany, NJ New Jersey

Frequently Asked Questions

What county is ZIP code 07054 in? ▼
ZIP code 07054 (Parsippany) is located in Morris County, New Jersey. Morris County contains multiple ZIP codes, see the full list at /counties/morris-nj.
What is the population of ZIP code 07054? ▼
ZIP code 07054 in Parsippany, NJ has a population of 29,305 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 07054? ▼
The median household income in ZIP 07054 is $104,214, which is 37% above the national average of $76,288.
What is the average home value in ZIP 07054? ▼
The median home value in ZIP 07054 is $587,000, which is 111% above the national average of $278,155.
What is the demographic makeup of ZIP 07054? ▼
The largest racial group in ZIP 07054 is Asian at 43.3%. Hispanic or Latino residents make up 8.9% of the population.
How many businesses are in ZIP code 07054? ▼
ZIP code 07054 has 1,635 business establishments employing approximately 49,755 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 07054? ▼
The top industries by establishment count in ZIP 07054 are: Professional, scientific, and technical services (352), Finance and insurance (161), Health care and social assistance (145). There are 16 industry sectors represented in total.
How have home values changed in ZIP code 07054? ▼
According to the FHFA House Price Index, home values in ZIP 07054 increased by 5.2% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 146%. This is a developmental index based on repeat sales and appraisal data from Fannie Mae and Freddie Mac.
What is the education level in ZIP code 07054? ▼
In ZIP code 07054, 77.5% of residents aged 25+ have a high school diploma or higher, and 61.4% hold a bachelor's degree or higher. These figures come from the Census Bureau ACS 5-Year Estimates (2023).
What is the average commute time in ZIP 07054? ▼
The mean commute time for workers in ZIP code 07054 is 27.2 minutes according to Census ACS data. The national average is roughly 26 minutes, so commuters here spend more time traveling to work than typical.
What percentage of residents own vs. rent in ZIP 07054? ▼
In ZIP code 07054, approximately 49.7% of occupied housing units are owner-occupied and 50.3% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 07054? ▼
The poverty rate in ZIP code 07054 is 6.4% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.

Read our methodology to see how this data is sourced, computed, and verified.