Parsippany-Troy Hills, NJ is a growing suburban area located in Morris County, New Jersey that has many attractions and amenities to offer. With the average two bedroom rent price of $1,880, Parsippany-Troy Hill is slightly more expensive than the national average of $1,430. The Grocery Cost Index in Parsippany-Troy Hills is also higher than the national average at 107 versus 100. Many local businesses such as Novartis Pharmaceuticals Corporation, Wyndham Worldwide, and Konica Minolta have their headquarters here. Residents can also find restaurants like Applebee’s Grill & Bar and Craft Coffee House along with other popular establishments like Planet Fitness gym and Target store.
Parsippany-Troy Hills has an unemployment rate of 5.9%. The US average is 6.0%.
Parsippany-Troy Hills has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 22.4%, which is lower than the US average of 33.5%.
Tax Rates for Parsippany-Troy Hills
- The Sales Tax Rate for Parsippany-Troy Hills is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Parsippany-Troy Hills is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Parsippany-Troy Hills
- The average income of a Parsippany-Troy Hills resident is $40,050 a year. The US average is $28,555 a year.
- The Median household income of a Parsippany-Troy Hills resident is $103,217 a year. The US average is $69,021 a year.