Living in Parma, Michigan
Cost of living, income, home prices, rent and demographics of Parma · Census data 2020–2024
Parma has 624 residents with a median age of 35.3. The median household income is $71,250 (about the same as the Michigan median), the median home value is $158,500, the median rent is $1,065/month.
Parma is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Parma at a glance
- Population
- 624
- Median age
- 35.3State: 40.2
- Median household income
- $71,250State: $72,875
- Median home value
- $158,500State: $231,600
- Median rent
- $1,065/moState: $1,129
- Homeowners
- 78.5%
- Bachelor's degree or higher
- 21.9%
- Average commute
- 21 min
Is Parma a good place to live?
Pros: Home values 32% lower than the state median; an average commute of 21 minutes.
Cons: Median household income about the same as the Michigan median; unemployment of 13.9%; a poverty rate of 16.4%.
The weather is best in June to September.
Cost of living in Parma
Housing is the biggest part of the cost of living. In Parma the median home value is $158,500, 52% lower than the U.S. median. Renters pay a median of $1,065 per month, which is 19% of household income. Homeowners with a mortgage pay $1,250 a month in housing costs.
Parma median household income
The median household income in Parma is $71,250 and the income per person is $33,910. 16.4% of residents live below the poverty line (Michigan: 13.2%).
Housing in Parma: homes for sale and rent
- Housing units
- 286
- Owner-occupied
- 78.5%
- Renter-occupied
- 21.5%
- Vacant
- 14%Includes seasonal homes
- Median year built
- 1954
- Average household size
- 2.48
Parma demographics
- Population
- 624
- Median age
- 35.3
- Under 18
- 25.6%
- 65 and older
- 16.2%
- Households
- 246
- Foreign-born
- 1.4%
- Veterans
- 6.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Parma ›
Education in Parma
21.9% of adults 25 and older in Parma have a bachelor's degree or higher (Michigan: 32.4%), and 6.8% have a graduate or professional degree.
Jobs and commute in Parma
- Unemployment rate
- 13.9%State: 5.7%
- Average commute
- 21 minState: 24 min
- Work from home
- 4%
- Drive alone
- 93.3%
- Public transit
- 0%
- Walk to work
- 0.8%
- Homes with broadband
- 96.3%
Parma vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Parma | 624 | $71,250 | $158,500 | $1,065 |
| Spring Arbor | 2,275 | $63,631 | $225,000 | $910 |
| Jackson | 31,058 | $44,558 | $103,200 | $898 |
| Concord | 1,118 | $60,625 | $176,800 | $794 |
| Vandercook Lake | 4,375 | $59,262 | $136,600 | $1,141 |
| Albion | 7,560 | $39,885 | $99,900 | $775 |
| Springport | 871 | $46,417 | $99,200 | $926 |
| Hanover | 375 | $62,656 | $145,800 | $978 |
| Michigan Center | 4,999 | $63,704 | $167,100 | $1,328 |
More for people moving to Parma
Parma ZIP code ›Weather and climate ›Living in Parma: FAQ
What is the median household income in Parma, MI?
The median household income in Parma is $71,250, about the same as the Michigan median of $72,875 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Parma?
The median home value in Parma is $158,500, compared with $231,600 in Michigan.
How much is rent in Parma?
The median gross rent in Parma is $1,065 per month, about 19% of household income.
Is Parma, MI a good place to live?
Pluses: home values 32% lower than the state median; an average commute of 21 minutes. Minuses: median household income about the same as the Michigan median; unemployment of 13.9%; a poverty rate of 16.4%.
What is the median age in Parma?
The median age in Parma is 35.3 years (Michigan: 40.2).
How long is the commute in Parma?
The average commute to work in Parma is 21 minutes; 4% of workers work from home.
What is the unemployment rate in Parma?
The unemployment rate in Parma is 13.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Parma?
21.9% of adults in Parma have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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