Parsippany Ranked a 'Top Booming Suburb' in New Jersey

Parsippany was ranked in the top-10 "Top Booming Suburbs" in New Jersey in a new survey conducted by Coldwell Banker.

For a town to be classified as a "booming suburb," the real estate agency worked with Onboard Infomatics to take into account home ownership percentage, job availability, gas affordability, safety factors, cultural and outdoor activities, median disposable income and more.

Parsippany came in at No. 11 out of 25, with Bridgewater, in Somerset County, topping off the list. Towns in the top-10 include Randolph, Roxbury, Rockaway, Mount Olive, Fort Lee and Mahwah. 

The "Top Booming Suburbs" survey is part of the larger "Best Places to Live" survey, which includes more than 1,500 communities in the country.

"Parsippany-Troy Hills has a population of 53,204 and has shown 5.1 percent growth since 2000," according to survey results.

The data shows that out of 20,403 households in Parsippany-Troy Hills, 61.1 percent are owned, 34.2 percent are rented and 5 percent are unoccupied. Approximately 39 percent of the homes in Parsippany have been owned by the same person for at least five years and the median age of a Parsippany home is 35 years.

The full list of "Best Places to Live" and more survey results are available on the agency's website.