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Parma

Learn about the people, housing, costs and businesses in Parma, Missouri

Median Home$82,000
Median Rent$671/month
Population546
Leading IndustriesProfessional Services · Manufacturing · Information & Media3% professional services
Home Value Growth⬆⬆+18.2% over 2 years
Young Adults23% of residents
Homeowners71% of occupied units
NotableTransit87/100 · excellent transit access
NotableAffordable Market$82k median home · lower cost than 97% of the country
Parma
MO

Frequently Asked Questions

What are today's mortgage rates in Parma?

As of today, the 30-year fixed mortgage rate for Parma is approximately 7.417% (7.471% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Parma?

The median home value in Parma is $82k. The median monthly rent is $671. Annual property taxes average $563. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Parma?

Home values in Parma have increased 18.2% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Parma?

Based on a typical all-in ownership cost of $546/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $23k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Parma is $47k/year.

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What industries drive the economy in Parma?

The largest employment sectors in Parma are public administration (29%) and retail (9%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.