Parma, MO is a small town with a population of just over 1,000. Located in New Madrid County and situated along the banks of the Mississippi River, Parma provides a peaceful rural setting for its residents. Living in Parma offers more affordability than other locations; for instance, two bedroom rent is $710, compared to the US average of $1,430. Furthermore, Parma provides great value for food purchases; the Grocery Cost Index is 91 versus 100 in the US.
The town is home to several local businesses such as TJS Auto Sales & Repair Shop, Krissy's Restaurant and Bar, Tates Discount Tire & Automotive Service Center and Southern Missouri Feeds LLC. These companies provide employment opportunities and contribute to the economy of Parma. Indeed, with an affordable cost of living and access to local businesses and services, Parma is an attractive place to live for those seeking a quiet lifestyle at an affordable price.
Parma has an unemployment rate of 4.5%. The US average is 6.0%.
Parma has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 3.3%, which is lower than the US average of 33.5%.
Tax Rates for Parma
- The Sales Tax Rate for Parma is 6.2%. The US average is 7.3%.
- The Income Tax Rate for Parma is 5.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Parma
- The average income of a Parma resident is $20,498 a year. The US average is $37,638 a year.
- The Median household income of a Parma resident is $50,375 a year. The US average is $69,021 a year.