The typical owner-occupied home in Parrottsville is worth about $134,400, 53% below the Tennessee median of $286,700 and 60% below the national median of $332,700. Owners pay a median $1,056 a year in property taxes, about 0.79% of their home's value, higher than the Tennessee rate of 0.50%. The median household earns $48,452 a year, so the median home costs 2.8 times the median income (4.1 times for Tennessee). 42% of occupied homes here are lived in by their owners, and 55% of those owners still have a mortgage.
Parrottsville at a glance
| Parrottsville | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $134,400 | $286,700 | $332,700 |
| Median property tax paid per year | $1,056 | $1,442 | $3,119 |
| Property tax as a share of value | 0.79% | 0.50% | 0.94% |
| Median household income | $48,452 | $69,595 | $80,734 |
| Homes lived in by their owners | 42% | 67% | 65% |
| Owner homes with a mortgage | 55% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,111 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 18.1% | 19.6% | 21.0% |
| Median rent | $806 | $1,189 | $1,413 |
| Rent as a share of renters' income | 22.9% | 29.5% | 30.6% |
| Median year homes were built | 1995 | 1987 | 1980 |
| Vacant homes | 8.2% | 10.2% | 10.1% |
| Population | 374 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Parrottsville
At this week's average 30-year rate of 7.11%, buying the median Parrottsville home of $134,400 with 20% down costs about $868 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,092, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $37,190 for the 20%-down payment. That payment is 21% of the median Parrottsville household income of $48,452; at that income and 20% down, the 28% guideline points to a home of about $175,000.
The median rent here is $806 a month, so owning the median home costs about $62 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $26,880 |
|---|---|
| Loan amount | $107,520 |
| Principal and interest | $723 |
| Property taxes (0.79% a year) | $88 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| PMI | $0 |
| Total per month | $868 |
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| Down payment | $4,704 |
|---|---|
| Loan amount | $131,966 |
| Principal and interest | $888 |
| Property taxes (0.79% a year) | $88 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| FHA mortgage insurance | $59 |
| Total per month | $1,092 |
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Questions about home buying in Parrottsville
What is the median home value in Parrottsville?
About $134,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Parrottsville?
Homeowners pay a median $1,056 a year, which is about 0.79% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Parrottsville?
For the median home with 20% down at 7.11%, the payment is about $868 a month. Keeping that under 28% of gross income takes about $37,190 a year.
More about Parrottsville
- Mortgage Refinance in Parrottsville
- Debt Relief in Parrottsville
- Home Equity Loans in Parrottsville
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data