500 Parq
500 Parq Ln,
Parsippany, NJ 07054
$2,361 - $4,302
Studio - 3 Beds
Parsippany
Parsippany, NJ
Area Guide
Where the river winds through the valley
Wooded
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Lakes
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Attractive
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Historic
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Commutes
•
Mass Transit
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Parks
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Located in Morris County, Parsippany-Troy Hills combines suburban comfort with easy access to metropolitan amenities. The township, recognized by Money magazine, offers housing options throughout established neighborhoods like Lake Hiawatha, Mount Tabor, and Lake Parsippany. One-bedroom apartments average $1,969, while two-bedroom units average $2,595. Positioned at the intersection of I-80, I-287, and I-280, Parsippany-Troy Hills provides convenient access to the New York metropolitan area.
The township spans 25 square miles, featuring Rainbow Lakes, Smith Field Park, and Veterans Memorial Park. The historic Mount Tabor district showcases preserved Victorian architecture, while the Lake Parsippany area offers waterfront recreation. The Parsippany-Troy Hills Township School District operates ten elementary schools and two high schools. Local landmarks include the BAPS Swaminarayan Mandir temple, reflecting the area's cultural heritage. The name "Parsippany" traces its origins to the Lenape people, meaning "the place where the river winds through the valley." While preserving its residential character, the township has developed into a significant business center, home to several major corporations.
Rent Trends
As of December 2025, the average apartment rent in Parsippany, NJ is $2,364 for a studio, $2,113 for one bedroom, $2,804 for two bedrooms, and $4,505 for three bedrooms. Apartment rent in Parsippany has increased by 2.3% in the past year.
Property Type
Average Rent
Average Sq Ft
Apartment
$2,113/month
775 Sq Ft
House
$4,200/month
1,512 Sq Ft
Condo
$2,074/month
316 Sq Ft
Transportation
42
Car-Dependent
out of 100 WalkScore® Rating
This area is considered a car-dependent area and most errands will require a car.
1
Minimal Transit
out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
38
Somewhat Bikeable
out of 100 BikeScore® Rating
You might be able to find places to ride your bike in this area, but you’ll most likely want your car for most errands.
Points of Interest
Shopping Centers
Parks and Recreation
- Whippany Railway Museum
- Conklin Farm
- Frelinghuysen Arboretum
- Tourne County Park
- Hamilton Farms
Commuter Rail
Military Bases
Airports
- Newark Liberty International
- LaGuardia
Top Apartments in Parsippany
Houses for Rent in Parsippany
Property Management Companies in Parsippany, NJ
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in November 2025.