Welcome to our 7054 real estate data hub, tailored for investors in Parsippany, NJ. We aim to provide valuable insights, empowering you to make well-informed decisions in this unique market.
Explore essential data such as home prices, rental rates, and appreciation trends specific to 7054 in Parsippany, NJ. Discover Section 8 housing opportunities and challenges to maximize your investment potential in MORRIS COUNTY.
Leverage our comprehensive, zip code-specific data to excel in Parsippany, NJ real estate investing. Uncover the wealth of information available, and position yourself for success in the Parsippany property market.
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Location Overview
- Zip Code: 7054
- City: Parsippany
- State: NJ
- Metro Area: New York-Newark-Jersey City, NY-NJ-PA
- County Name: MORRIS COUNTY
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Real Estate Market Snapshot
- Average Home Price (All Types): $565,980
- Average Home Price (Single Family Homes): $567,915
- Average Monthly Rental Price (All Types): $2,015
- Price-to-Rent Ratio: 23
- Zillow Projected % appreciation from 4/2023-4/2024: -0.1%
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Section 8 Housing Insights
- Average 2 Bedroom Section 8 Rental Rates: $1,850
- Average 3 Bedroom Section 8 Rental Rates: $2,350
- Price-to-Rent Ratio for 2 Bedroom Section 8 Properties: 25.49
- Price-to-Rent Ratio for 3 Bedroom Section 8 Properties: 20.07
- Number of Units Offered in Section 8 in the County: 1489
- Number of Occupied Units in Section 8 in the County: 1446
- Percentage of Section 8 Units Occupied in the County: 97.09999847%
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Historical & Recent Price Appreciation Rates
- Total % Appreciation since 1990 (Government Data): 172.92
- Total % Appreciation since 2000 (Government Data): 109.91
- YTD Appreciation (Backwards from 4/2023, Realtor Data): 2.64%
- 1-Year Appreciation (Backwards from 4/2023, Realtor Data): 4.45%
- 3-Year Appreciation (Backwards from 4/2023, Realtor Data): 18.25%
- 5-Year Appreciation (Backwards from 4/2023, Realtor Data): 25.87%
- 10-Year Appreciation (Backwards from 4/2023, Realtor Data): 48.2%
- 15-Year Appreciation (Backwards from 4/2023, Realtor Data): 33.15%
- 20-Year Appreciation (Backwards from 4/2023, Realtor Data): 74.93%
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Historical & Recent Rent Appreciation Rates
- YTD Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 1-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): 9.1%
- 3-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 5-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%