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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Parsons, KS Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Parsons, KS Housing Market Trends

With a population of 9,382, 3,741 total housing units (homes and apartments), and a median house value of $167,232, the cost of homes in Parsons is among some of the lowest in the nation. Compared to Kansas, however, Parsons real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in Parsons, accounting for 82.55% of the city's housing units. Other types of housing that are prevalent in Parsons include large apartment complexes or high rise apartments ( 9.46%), duplexes, homes converted to apartments or other small apartment buildings ( 4.59%), and a few mobile homes or trailers ( 2.67%).

The most prevalent building size and type in Parsons are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.42% owning and 35.58% renting.

The housing in Parsons was primarily built before 1939 ( 37.94%), making the housing stock in Parsons some of the oldest overall in America, although there is a range of ages of homes in Parsons. The next most important housing age is between 1940-1969 ( 31.84%), followed by between 1970-1999 ( 24.77%). There's also some housing in Parsons built between 2000 and later ( 5.44%).

Vacant housing appears to be an issue in Parsons. Fully 20.79% of the housing stock is classified as vacant. Left unchecked, vacant Parsons homes and apartments can be a drag on the real estate market, holding Parsons real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Parsons Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Parsons, where house values have increased just 54.94%, which is annualized rate of 4.48%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Parsons's appreciation rate, at 6.14%, has been at or slightly above the national average. In the latest quarter, Parsons's appreciation rate has been 4.94%, which annualizes to a rate of 21.27%.

Importantly, this makes Parsons one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Kansas, our data show that Parsons's latest annual appreciation rate is lower than 50% of the other cities and towns in Kansas.

Average Home Values

Median Home Value

$167,232

Parsons, KS Home Prices
> $1,360,000
$1,020,001 - $1,360,000
$680,001 - $1,020,000
$544,001 - $680,000
$408,001 - $544,000
$272,001 - $408,000
$136,001 - $272,000
$68,001 - $136,000
$0 - $68,000
0.0%
0.0%
0.0%
0.0%
0.4%
0.4%
1.0%
1.0%
4.4%
4.4%
9.5%
9.5%
29.4%
29.4%
24.6%
24.6%
30.6%
30.6%
0% 100.0%
% of Homes
Average

for Kansas

Very Low

for nation

Number of Homes And Apartments:

3,741

Parsons Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,351 / per month

Homeownership Rate

Owners
Renters
64.4%
64.4%
35.6%
35.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
20.8%
20.8%
79.2%
79.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.4%
5.4%
24.8%
24.8%
31.8%
31.8%
37.9%
37.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
82.6%
82.6%
0.7%
0.7%
4.6%
4.6%
9.5%
9.5%
2.7%
2.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.6%
4.6%
10.0%
10.0%
26.7%
26.7%
37.7%
37.7%
15.1%
15.1%
6.0%
6.0%
0% 100.0%
% of Homes

Popular Neighborhoods in Parsons

Zip Codes in Parsons, KS