Rent by ZIP · Morris County
Rent in Parsippany, NJ 07054
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $2,640 (+2.3% vs FY2026). Renters in this ZIP code pay a median $1,731 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,940 | $1,890 | +2.6% | $1,746–2,134 | $1,345 ±$653 |
| 1 bedroom | $2,190 | $2,130 | +2.8% | $1,971–2,409 | $1,634 ±$52 |
| 2 bedrooms | $2,640 | $2,580 | +2.3% | $2,376–2,904 | $2,005 ±$116 |
| 3 bedrooms | $3,290 | $3,230 | +1.9% | $2,961–3,619 | $2,136 ±$481 |
| 4 bedrooms | $3,770 | $3,670 | +2.7% | $3,393–4,147 | $3,195 ±$250 |
Small Area FMRs for the Newark, NJ HUD Metro FMR Area. Fair Market Rents include utilities. The voucher range is the typical 90–110% band; your housing authority sets the actual payment standard.
Area-wide FMR for Newark, NJ HUD Metro FMR Area, 2 bedrooms: $2,233.
What renters pay in 07054
How rents are spread
Share of renter households paying cash rent, by monthly gross rent (rent plus utilities).
Nearby ZIP codes
| ZIP | Place | 2-bedroom FMR | Census median, 2 bedrooms |
|---|---|---|---|
| 07055 | Passaic | $1,920 | $1,507 |
| 07052 | West Orange | $2,520 | $2,030 |
| 07057 | Wallington | $1,990 | $1,803 |
| 07050 | Orange | $2,310 | $1,691 |
| 07058 | Pine Brook | $3,160 | $2,636 |
| 07059 | Warren | $2,930 | $1,816 |
Fair Market Rents across Morris County, NJ · All NJ counties · What is Fair Market Rent?
Sources: HUD Small Area and county Fair Market Rents, FY2027 (effective October 1, 2026); U.S. Census Bureau, 2020–2024 ACS 5-year estimates. Census figures are survey estimates (±90% margin of error) and trail today's market. Place name from GeoNames. About the data.