Affordable Housing In Parsons
Decatur County, Tennessee

3 Low Income Apartment Communities In Parsons

Kensington Place Apartments

93 Kensington Pl
Parsons, TN
Call For Rent
1-2 BR
Subsidized

Parsons Cove Apartments

31 Gunn Gardens Place
Parsons, TN
Subsidized

Buffalo Valley O4 Decatur Cnty

Marshalltown Rd
Parsons, TN
Accepts Vouchers
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Housing Authorities that serve Parsons

Housing Authority Programs
Parsons-Decaturville Housing Authority Public Housing
Tennessee Housing Development Agency Central Office Section 8 Housing Choice Voucher (HCV); Mainstream Voucher
Tennessee Housing Development Agency West Tennessee Office Section 8 Housing Choice Voucher (HCV); Homeownership Voucher; Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH); Mainstream Voucher

Guide To Affordable Housing in Parsons, Tennessee

There are 3 low income housing apartment communities offering 90 affordable apartments for rent in Parsons, Tennessee.

Income Based Apartments in Parsons, Tennessee

Parsons features 82 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 8 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 $584 and $714.

2020 Parsons, Tennessee Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $492 $570 $649 $809 $969
Payment Standard Range $443 to $541 $513 to $627 $584 to $714 $728 to $890 $872 to $1,066

Sourced from federal housing data and AffordableHousingOnline.com research.

Parsons, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 90
Total Housing Units with Rental Assistance 82
Percentage of Housing Units Occupied By Renters 34.69%
Average Renter Household Size 2.28
Average Household Size 2.42
Median Household Income $28,000 ±$5,229
Median Rent $467 ±$92
Percentage Of Renters Overburdened 39.83% ± 13.38pp
Total Population 2,542

Population and Household Demographics

Parsons is a City in Decatur County, Tennessee with a population of 2,542. There are 1,006 households in the city with an average household size of 2.42 persons. 34.69% of households in Parsons are renters.

Income and Rent Overburden in Parsons

The median gross income for households in Parsons is $28,000 a year, or $2,333 a month. The median rent for the city is $467 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Parsons, a household making less than $1,557 a month would be considered overburdened when renting an apartment at or above the median rent. 39.83% of households who rent are overburdened in Parsons.1

Area Median Income In Parsons

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Parsons, the AMI is calculated from all households within Decatur County.

In Parsons, HUD calculates the Area Median Income for a family of four as $47,900

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Parsons

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Parsons

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $25,750 $28,350 $30,450 $32,550 $34,650
50% of Median $18,400 $21,000 $23,650 $26,250 $28,350 $30,450 $32,550 $34,650
80% of Median $29,400 $33,600 $37,800 $42,000 $45,400 $48,750 $52,100 $55,450