Parsons, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Parsons, TN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Parsons Housing Market Information

With a population of 2,337, 1,006 total housing units (homes and apartments), and a median house value of $98,764, house prices in Parsons are solidly below the national average.

Single-family detached homes are the single most common housing type in Parsons, accounting for 76.08% of the city's housing units. Other types of housing that are prevalent in Parsons include mobile homes or trailers ( 11.92%), large apartment complexes or high rise apartments ( 7.12%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.64%).

The most prevalent building size and type in Parsons are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.43% owning and 37.57% renting.

There is a lot of housing in Parsons built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Parsons built between 1940-1969 ( 32.20%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.93%). There's also some housing in Parsons built before 1939 ( 2.81%).

Vacant housing appears to be an issue in Parsons. Fully 16.72% of the housing stock is classified as vacant. Left unchecked, vacant Parsons homes and apartments can be a drag on the real estate market, holding Parsons real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Parsons Home Appreciation Rates

In the last 10 years, Parsons has experienced some of the highest home appreciation rates of any community in the nation. Parsons real estate appreciated 15.60% over the last ten years, which is an average annual home appreciation rate of 1.46%, putting Parsons in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Parsons definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Parsons's appreciation rate, at 3.81%, has been at or slightly above the national average. In the latest quarter, Parsons's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Tennessee, our data show that Parsons's latest annual appreciation rate is higher than 50% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$98,764

Parsons, TN HOME PRICES

Value Range
> $1,103,000 0.0
$827,001 - $1,103,000 0.0
$552,001 - $827,000 0.0
$441,001 - $552,000 2.7
$331,001 - $441,000 2.2
$220,001 - $331,000 5.1
$110,001 - $220,000 26.5
$55,001 - $110,000 44.2
$0 - $55,000 19.2

Low for TN
Low for Nation

Value Relative to Nation Value Relative to State
78.3897808508145 75.5102040816327

Number Of Homes And Apartments:
1,006

Parsons Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
46.43% 2.24% 8 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$678 / per month

Homeownership Rate

Homeownership
Owners 62.43
Renters 37.57
Vacant 16.72

Housing Market Details

 

Age of Homes

AGE OF Parsons HOMES
2000 or Newer 9.9
1970 - 1999 55.0
1940 - 1969 32.2
1939 or Older 2.8

Types of Homes

TYPE OF Parsons HOMES
Single-Family 76.1
Townhomes 0.2
Small Apt. Buildings 4.6
Apt. Complexes 7.1
Mobile Homes 11.9
Other 0.0

Home Size

SIZE OF Parsons HOMES
No Bedroom 1.49
1 Bedroom 8.61
2 Bedrooms 26.08
3 Bedrooms 54.06
4 Bedrooms 7.28
5 or more bedrooms 2.48

Popular Neighborhoods in Parsons

Zip Codes in Parsons, TN