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ZipNumbers

Michigan · Census place 62740

Parma village, MI

Quick answer

Parma village has 653 residents, ranking #507 of 745 places in Michigan. Median household income is $71,413, the median home is worth $121,300 and median gross rent runs $1,050 a month.

Population
653Parma village residents
Median household income
$71,413Past 12 months, inflation adjusted
Median home value
$121,300Owner-occupied units
Median gross rent
$1,050Rent plus utilities, monthly
Median age
35.6 yrsAll residents
Homeownership rate
77.7%Owner-occupied households

What the numbers mean in Parma village

Housing cost measured against local earnings.

A household earning the Parma village median would spend about 17.6% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 1.7× the median household income; nationally that ratio sits near 4.5×. Poverty affects 12.4% of residents and 77.7% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

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