How many apartments are available in 07054 on Rentable.co?

Rentable.co has 4 apartments available for rent in 07054.

What is the average rent for an apartment in 07054?

The average rent for an apartment in 07054 is around $1,900 per month.

What is the average rent for a one-bedroom apartment in 07054?

The average rent for a one-bedroom apartment in 07054 is around $1,895 per month.

What is the average rent for a two-bedroom apartment in 07054?

The average rent for a two-bedroom apartment in 07054 is around $2,322 per month.

What is the average rent for a studio apartment in 07054?

The average rent for a studio apartment in 07054 is around $1,448 per month.

Apartments in 07054

Parsippany:
May Rent Report

Welcome to the May 2024 Parsippany Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2024 key findings and figures for the Parsippany rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Parsippany and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Parsippany average rent prices in the chart below.

Monthly Rent Report

$2,550

$1,910

$1,280

$640

Jun. 2023

Jul. 2023

Aug. 2023

Sep. 2023

Oct. 2023

Nov. 2023

Dec. 2023

Jan. 2024

Feb. 2024

Mar. 2024

Apr. 2024

May. 2024

1 BR 2 BR

Parsippany Rent Prices Increase From April to May

Parsippany rent prices increased over the last month. From April to May, the city experienced a 0.27% increase for the price of a one-bedroom apartment. The rent price for a Parsippany one-bedroom apartments currently stands at $1,851.0.

When we take a look at the two-bedroom comparison from April to May, Parsippany experienced a -0.5% decrease for the price of a two-bedroom apartment. The rent price for a Parsippany two-bedroom apartments currently stands at $2,366.0.

May Prices: Parsippany vs. Surrounding Areas

Rent Prices in Parsippany and Surrounding Areas

Rent prices have increased in Parsippany over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Parsippany suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rents did not increase in any of the Parsippany suburbs
Rents did not decrease in any of the Parsippany suburbs.

May 2024 Pricing Trends: Parsippany vs. National Comparisons

New York, NY

San Francisco, CA

Washington, DC

Los Angeles, CA

Chicago, IL

Columbus, OH

Minneapolis, MN

Pittsburgh, PA

$4,056

$3,039

$2,377

$2,336

$1,913

$1,300

$1,283

$1,178

$1,350

$2,700

$4,050

$5,400

Median Rent

Parsippany Rent Prices More Affordable Than Major Cities

Rent growth in Parsippany over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Parsippany average rent prices appear to be relatively affordable for local residents.

The price for a Parsippany one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Parsippany and surrounding area rent prices, take a look at the complete data set below.

Data set for Parsippany and suburbs

	1 BR May	1 BR M/M % Change	2 BR May	2 BR M/M % Change

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.