Cost of Living in Parsippany, NJ
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
181.2
100 = national avg
+81.2 vs national average
Living Wage (1 Adult)
$79,737
per year
Living Wage (Family of 4)
$188,469
per year
Cost Index by Category
Housing252.0
Food128.1
Transportation156.2
Healthcare122.5
Utilities147.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,822
per month
2 Bedroom
$2,205
per month
The overall cost of living index in Parsippany is 181.2, which is 81.2% above the national average. Housing costs are above the national average at an index of 252.0. A single adult needs to earn approximately $79,737 per year to cover basic expenses.