Market Overview
Home Prices in Parsons, TN
The median home value in Parsons, TN is $175,567 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.6% compared to a year ago and down 4.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Parsons are priced57% below average.
Over the past five years, Parsons home values have risen by approximately29.2%, reflecting strong long-term appreciation in this market.
Price History
Parsons Home Price Trend
2020
$118,314
$118K
—
2021
$135,853
$136K
+14.8%
2022
$156,686
$157K
+15.3%
2023
$159,560
$160K
+1.8%
2024
$175,567
$176K
+10.0%
2025
$167,838
$168K
-4.4%
2026
$175,567
$176K
+4.6%
City Comparison
Parsons vs. National Median
🏠 Parsons
$175,567
National Median
$410,000
At $175,567, homes in Parsons cost 57% below the national median of $410,000. This makes Parsons a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Parsons?
20% Down Payment
$35,113
on $175,567
Monthly P&I
$916/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,163/mo
incl. taxes & insurance
Income Needed
$46,520
gross annual (30% rule)
10% Down Option
$17,557
+ PMI applies
Loan Amount (20% dn)
$140,454
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Parsons, TN?
The median home value in Parsons is $175,567 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.6% year-over-year.
How much have home prices changed in Parsons?
Over the past year, home values in Parsons have increased by 4.6%. Over five years, prices have risen approximately 29.2%.
How much do I need to earn to buy a home in Parsons?
To comfortably afford the median home price of $175,567 with a 20% down payment ($35,113) at today's rates (6.8%), you'd need a gross annual income of approximately $46,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Parsons compare to the national average home price?
The national median home value is approximately $410,000. At $175,567, homes in Parsons are 57% below the national average.