Mortgage Rates in Parsippany-Troy Hills, New Jersey — March 2026
Updated March 2026 | Based on Parsippany-Troy Hills market data and regional lending conditions
Parsippany-Troy Hills is a growing city in New Jersey with a population of 56,000. The current 30-year fixed mortgage rate in Parsippany-Troy Hills is 6.86%, which is 0.21% above the national average. With a median home price of $414,000 and a 20% down payment of $82,800, homebuyers can expect a monthly principal and interest payment of approximately $2,172.
Current Mortgage Rates in Parsippany-Troy Hills, NJ
Below are the current average mortgage rates available in the Parsippany-Troy Hills area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.86% | 6.65% | +0.21% |
| 15-Year Fixed | 6.08% | 5.89% | +0.19% |
| 5/1 ARM | 6.31% | 6.15% | +0.16% |
| FHA | 6.55% | 6.25% | +0.3% |
| VA | 6.3% | 6.05% | +0.25% |
| Jumbo | 7.11% | 6.85% | +0.26% |
Parsippany-Troy Hills Housing Market Overview
The Parsippany-Troy Hills housing market reflects moderate demand with prices near the national average. The median household income in Parsippany-Troy Hills is $77,500, and the cost of living index is 115.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $123,857 to comfortably afford the median-priced home in Parsippany-Troy Hills, which exceeds the current median household income.
Monthly Payment Breakdown for Parsippany-Troy Hills
Based on the median home price of $414,000 with 20% down ($82,800), here is what you can expect to pay monthly in Parsippany-Troy Hills:
15-Year vs. 30-Year Mortgage in Parsippany-Troy Hills
Choosing a 15-year mortgage in Parsippany-Troy Hills at 6.08% instead of a 30-year at 6.86% would save you $276,300 in total interest over the life of the loan. However, your monthly payment would be $2,809 instead of $2,172 — an increase of $637 per month.
Calculate Your Parsippany-Troy Hills Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Parsippany-Troy Hills
What are the current mortgage rates in Parsippany-Troy Hills, NJ?
As of March 2026, the average 30-year fixed mortgage rate in Parsippany-Troy Hills, New Jersey is 6.86%, while the 15-year fixed rate is 6.08%. FHA loans average 6.55% and VA loans 6.3%. These rates are 0.21% above the national average of 6.65%.
How much is a monthly mortgage payment in Parsippany-Troy Hills?
Based on the median home price of $414,000 with 20% down, the estimated monthly mortgage payment in Parsippany-Troy Hills is $2,172 for principal and interest. Including property taxes of $718/month, the total monthly housing cost is approximately $2,890.
What income do I need to buy a home in Parsippany-Troy Hills?
Using the 28% rule, you would need an annual income of approximately $123,857 to afford the median-priced home in Parsippany-Troy Hills at $414,000. The median household income in Parsippany-Troy Hills is $77,500. This means most households would need to either earn above the median or consider homes below $414,000.
Is Parsippany-Troy Hills a good place to buy a home in 2026?
Parsippany-Troy Hills has a moderate cost of living with a cost of living index of 115.5 (national average = 100). The property tax rate in New Jersey is 2.08%, which is above the national average. Parsippany-Troy Hills has a population of 56,000 and offers a balanced lifestyle.
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Parsippany-Troy Hills, New Jersey area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.