Total monthly cost of ownership
Cost to Own a Home in Parsons, Tennessee
A $107,000 home here costs
$933per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $550. The real number is $383 higher every month — 70% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Parsons against Decatur County and Tennessee
| Measure | Parsons | Decatur County |
|---|---|---|
| Median home value | $107,400 | $133,900 |
| Median property tax | $608 | $654 |
| Effective tax rate | 0.566% | 0.488% |
| Median gross rent | $731 | $716 |
| Population | 2,578 | 11,499 |
The weather behind that power bill
Parsons sits in Decatur County, which averages a high of 90.9°F in its hottest month and a low of 28.4°F in its coldest, with 57.08" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,743 cooling and 3,441 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Decatur County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Decatur County
No other places of this size are published in Decatur County.
Full Decatur County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in Parsons?
A $107,000 home in Parsons, Tennessee costs approximately $933 per month with 20% down at 6.66%. That is $550 principal and interest, $50 property tax, $45 homeowners insurance, $198 utilities and $89 set aside for maintenance.
What is the property tax rate in Parsons?
Parsons has an effective property tax rate of 0.566%, based on a median home value of $107,400 and median real estate taxes of $608. That is higher than the Decatur County average of 0.488%.
What is the average home price in Parsons?
The median owner-occupied home value in Parsons, Tennessee is $107,400, against $133,900 across Decatur County.
Is it cheaper to rent or buy in Parsons?
Median gross rent in Parsons is $731 a month, against $933 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Parsons — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Tennessee.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.