Parsons, TN is a small town located in Decatur County. It is home to many local companies such as J&J Feeds, B & B Landscapes, and Jones Financial Group. The cost of living in Parsons is quite low making it an attractive place for people looking for affordable housing. The median rent for a two-bedroom apartment in Parsons is $720 which is far lower than the US average of $1,430. Additionally, the Grocery Cost Index in Parsons sits at 92 versus 100 in the US, meaning groceries are also cheaper here than most places. All this makes Parsons an excellent option if you're looking for an affordable place to live.
Parsons has an unemployment rate of 6.9%. The US average is 6.0%.
Parsons has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 26.9%, which is lower than the US average of 33.5%.
Tax Rates for Parsons
- The Sales Tax Rate for Parsons is 9.5%. The US average is 7.3%.
- The Income Tax Rate for Parsons is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Parsons
- The average income of a Parsons resident is $19,096 a year. The US average is $28,555 a year.
- The Median household income of a Parsons resident is $31,293 a year. The US average is $69,021 a year.