Why Parsippany-Troy Hills, NJ?
Parsippany-Troy Hills is Morris County's most populous municipality (56,000+) and one of NJ's most diverse — 25.6% Indian American (tripled since 2000), now the single largest ancestry group. Named to Money magazine's Best Places to Live 8 times (including #5 nationally in 2016). Home to Craftsman Farms, a National Historic Landmark where Gustav Stickley built his Arts and Crafts log house in 1911. From 1967 to 2015, Tiffany and Co. handcrafted every Super Bowl Vince Lombardi Trophy and NBA Larry O'Brien Trophy right here. Troy Meadows is NJ's largest freshwater marsh and a National Natural Landmark. Corporate corridor hosts Wyndham Worldwide, Avis Budget Group, Zoetis, and GAF. At $532K median, Parsippany offers the most diverse dining, strongest corporate employment, and best value in Morris County.
Parsippany-Troy Hills Real Estate Market in 2026
Parsippany homes sell in 20 days at a $532K median. Troy Hills section averages $760K (up 18% YoY). Lake Hiawatha from $437K. Wide range from $350K condos to $900K+ colonials. Revolutionary-era farmhouses, midcentury Cape Cods, and newer construction. Most expensive northeast, most affordable central. First Indian American mayor (Pulkit Desai) reflects the demographic shift.
Best Neighborhoods in Parsippany-Troy Hills
6 distinct neighborhoods, each with its own character and price range
Troy Hills
$600,000 to $900,000+Most desired section. Tranquil suburban setting with established colonials. Crime score of 1 (extremely safe). Homes sell in 32 days average.
Lake Parsippany
$475,000 to $650,000Own ZIP code. Private lake community with beach, fishing, and boating. Lake Parsippany Fire Dept (established 1935). Lake Parsippany Elementary (271 students).
Mount Tabor
$450,000 to $650,000Historic district with late 19th-century Victorians. Own ZIP code. NJ Transit Mount Tabor rail station. Fire Dept founded 1910.
Lake Hiawatha
$400,000 to $550,000Own ZIP code. Historic Beverwyck Plantation site (2,000-acre slave plantation in the 1700s). Lake community with own fire department (established 1935) and elementary school (417 students).
Rainbow Lakes
$425,000 to $600,000Named for Rainbow Lake. Residential section with community character.
Greystone Park
$400,000 to $550,000Former psychiatric hospital site. Had its own ZIP code until 2000. Redevelopment opportunities.
Commuting from Parsippany-Troy Hills to NYC
Source: NJ Transit schedules, June 2026. Peak hour commute times.
Walkability and Livability in Parsippany-Troy Hills
How easy is it to live car-free or car-light in Parsippany-Troy Hills?
Parsippany-Troy Hills vs Neighboring Towns: Cost Comparison
| City | Median Price | Tax Rate | Annual Tax | NYC Commute |
|---|---|---|---|---|
| Parsippany | $532,000 | 2.34% | $10,567 | 50 min |
| Randolph | $750,000 | 2.23% | $14,500 | 30 min |
| Denville | $650,000 | 2.34% | $11,234 | 55 min |
Where to Eat in Parsippany-Troy Hills
Indian Fine Dining
Jashan by Dhaba (252 US-46, fine dining North Indian and Indo-Chinese, hosts Diwali events), Chand Palace (257 Littleton Rd, upscale North/South Indian vegetarian buffet), Rajni South Indian Cuisine (296 US Route 46 West, chefs from 5-star kitchens), Tandoori Flames (1557-59 Route 46 E, tandoori and biryani).
Indian Casual and Street Food
A2B Indian Veg Restaurant (3159 US-46, award-winning South Indian vegetarian chain, 95 branches in Chennai), Honest Indian Restaurant (794 RT 46 West, street food, founded 1975), Biryani Pot (1442A US-46, Hyderabadi dum biryani), Sri Ganesh Dosa House (209 Littleton Rd, South Indian vegetarian), Sukhadia's (61 New Rd, snacks and sweets, 30+ years), Spice Route Melange (353 Smith Rd, Indian/Thai fusion), Bollywood Grill (94 N Beverwyck Rd, kathi rolls).
Lake Hiawatha
Apna Swad (81 N Beverwyck Rd, traditional kebabs), Pakwaan Indian Take Out (20 N Beverwyck Rd). Nearby: i2i Italian Indian Fusion (408 Main St, Boonton) and House of Biryani and Kebabs (315 US Route 46, Denville, 20 years).
Parks and Recreation in Parsippany-Troy Hills
Craftsman Farms (Stickley Museum)
National Historic Landmark. 26 acres of the original 650-acre tract. Log house built 1911 by Gustav Stickley, leader of the American Arts and Crafts movement. Township purchased via eminent domain in 1989 to prevent development. Guided tours only.
Troy Meadows
Largest freshwater marsh in New Jersey. National Natural Landmark (1967). U.S. Dept of Interior rated it the highest quality inland wetland in NJ (1954). Remnant of ancient Glacial Lake Passaic. Wildlife Preserves Inc. began acquiring land in 1952.
Lake Parsippany Park
End of Elmwood Drive off Halsey Road. One of 30+ lakes and reservoirs in the township. Fishing, boating, swimming.
BAPS Shri Swaminarayan Mandir
Major Hindu temple at 3 Entin Road. Open daily. Hosts grand Diwali and Annakut celebrations with hundreds of vegetarian dishes. Gujarati classes for high school credit. Community hub for the Indian American population.
New Development and Growth in Parsippany-Troy Hills
PARQ (500 Parsippany Rd)
23-acre mixed-use on former Lanidex East office park. 600 units: 525 apartments (1-3 BR) in two buildings plus 75 three-bedroom townhomes with 2-car garages. Ground-floor retail, athletic field, playground, clubhouse.
Office-to-Industrial Conversions
Multiple office buildings being razed for logistics: 249 PLC (110,000 sq ft Class A industrial, delivery Oct 2026), Campus Drive (128,000 sq ft warehouse, Q4 2026), Logistics Center at Parsippany (140,031 sq ft, early 2026). Nearly 1.2M sq ft of new industrial under construction.
History of Parsippany-Troy Hills, NJ
Name from Lenape word 'parsipanong' meaning the place where the river winds through the valley. Wisconsin Glacier melted circa 13,000 BCE, filling Glacial Lake Passaic across half of what is now Parsippany.
Incorporated March 12, 1928 by NJ Legislature. Referendum split from Hanover Township May 9, 1928.
Beverwyck Plantation at Lake Hiawatha was a 2,000-acre slave plantation in the 1700s. Phebe Ann Jacobs, born enslaved here in 1785, may have inspired Harriet Beecher Stowe's Uncle Tom's Cabin.
Gustav Stickley built his Arts and Crafts masterpiece Craftsman Farms here in 1911 — now a National Historic Landmark with guided tours.
Tiffany and Co. handcrafted every Super Bowl Vince Lombardi Trophy and NBA Larry O'Brien Trophy in Parsippany from 1967 to 2015 — 48 years of championship trophies.
Money magazine named Parsippany a Best Place to Live 8 times, including #5 nationally in 2016. Par-Troy Little League East competed in the Little League World Series in 2012.
Indian American population tripled from 8.39% (2000) to 25.6% (2022) — now the single largest ancestry group, with the first Indian American mayor (Pulkit Desai) and council VP (Diya Patel).
Safety in Parsippany-Troy Hills
Parsippany violent crime rate is 0.53 per 1,000 — well below NJ average of 2.18. Troy Hills neighborhood has a crime score of 1 (extremely safe). Safer than 90% of cities nationally.
Notable Residents
Annual Events and Festivals
Frequently Asked Questions About Parsippany-Troy Hills, NJ
What is the median home price in Parsippany-Troy Hills, NJ?
The median home price is $532,000 as of 2026, with 6.2% year-over-year appreciation. Average $295/sqft, selling in 20 days.
How long is the commute from Parsippany-Troy Hills to NYC?
50 minutes via NJ Transit from Mount Tabor Station on the Morris and Essex Line. Transfer required.
What are property taxes in Parsippany-Troy Hills, NJ?
Tax rate is 2.34%. Average homeowner pays $10,567/year. At the median price of $532,000, expect about $12,449/year.
What are the best neighborhoods in Parsippany-Troy Hills?
Troy Hills ($600,000 to $900,000+). Lake Parsippany ($475,000 to $650,000). Mount Tabor ($450,000 to $650,000). Lake Hiawatha ($400,000 to $550,000). Rainbow Lakes ($425,000 to $600,000). See the full guide above for all 6 neighborhoods.
Is Parsippany-Troy Hills safe?
Parsippany violent crime rate is 0.53 per 1,000 — well below NJ average of 2.18. Troy Hills neighborhood has a crime score of 1 (extremely safe). Safer than 90% of cities nationally.
How walkable is Parsippany-Troy Hills, NJ?
Walk Score of 25, rated "Car-Dependent." Median income $85,760, median age 40.5. 28% renter-occupied.
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