The Most Affordable Neighborhoods in Parsons, TN by Home Value

These days, finding an affordable place to live in the Parsons area can be challenging. Home prices in Parsons are now at a median cost of $126,234, lower than the Tennessee average of $315,131.

The average cost of rent is $777/mo in Parsons, primarily driven by the current value of real estate in the Parsons area. In Parsons, 31.40% of households rent, and 58.25% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Parsons is $3,941 per month. Households that rent pay about 19.72% of their income on rent here. Parsons’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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