Low Income Apartments and Affordable Housing For Rent in Parsons, TN

Discover affordable housing in Parsons where there are 3+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Kensington Place Apartments

93 Kensington Pl, Parsons, Tennessee 38363

Parsons Cove Apartments

31 Gunn Gardens Place, Parsons, Tennessee 38363

Buffalo Valley O4 Decatur Cnty

Marshalltown Rd, Parsons, Tennessee 38363

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Parsons, Tennessee
$16.31/hour
$9.06 (+125%) more than Tennessee minimum wage and $9.06 (+125%) more than the Federal minimum wage.
Learn More About Parsons, Tennessee Affordable Housing ↓

What HUD offices serve Parsons, Tennessee?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Parsons, Tennessee.
Operates the Public Housing programs for Parsons, Tennessee.
Operates the Section 8 Housing Choice Voucher (HCV), Family Self-Sufficiency, Mainstream Voucher, Homeownership programs for Parsons, Tennessee.

Go to the Tennessee Public Housing and Low-Income Apartments Waiting Lists page for openings near Parsons.

How many renters live in Parsons, Tennessee?

The City of Parsons has 2,452 people living in 986 households.

There are 823 renters living in 340 renter households in this City. Renters make up 33.56 percent of the population living in Parsons.

What is the rental market like in Parsons, Tennessee?

There are an estimated 1,255 housing units in the Parsons area. Of these, 420 units are rental homes, making up 33 percent of the housing market. For every renter household in Parsons, Tennessee, there are 1 rental units.

What is the vacancy rate for rentals in Parsons?

The rental vacancy rate in Parsons is 19 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Parsons for each bedroom size?

Occupied Rental Units by Size in Parsons
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
9 85 158 88 0
Occupied Rental Units by Size in Parsons

A large number of apartments in Parsons have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Parsons are overburdened by housing costs?

Among renter households in this market, 35 percent have housing cost burden. Further, 17 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Parsons

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $651 to $1,209. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $651
One BR $655
Two BR $861
Three BR $1,154
Four BR $1,209
2024 Fair Market Rents in Parsons, Tennessee

How many units are rented at Fair Market Rent (FMR) in Parsons?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 9 100 percent
One BR 74 87 percent
Two BR 115 73 percent
Rental Units Below FMR in Parsons, Tennessee

How many affordable rental units are in Parsons?

There are a variety of federal affordable housing programs serving households in Parsons, Tennessee including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 50
Public Housing 50
Section 8 Project-Based Rental Assistance 50
USDA Section 515 Rural Rental Housing 32
Tracked Units by Federal Program in Parsons, Tennessee

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Parsons, Tennessee

Parsons features 32 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Parsons, Tennessee

There are 58 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Parsons.

Housing Choice Vouchers in Parsons, Tennessee

On average, Section 8 Housing Choice vouchers pay Parsons landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Parsons.

The maximum amount a voucher would pay on behalf of a low-income tenant in Parsons, Tennessee for a two-bedroom apartment is between $775 and $947.

Sourced from federal housing data and AffordableHousingOnline.com research.