Parma, MO Profile: Facts & Data

The City of Parma had a population of 525 as of July 1, 2023. Parma ranks in the upper quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Missouri. See peer rankings below.

The primary coordinate point for Parma is located at latitude 36.6137 and longitude -89.8165 in New Madrid County. The formal boundaries for the City of Parma encompass a land area of 0.64 sq. miles and a water area of 0 sq. miles. New Madrid County is in the Central time zone (GMT -6).

The City of Parma has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Parma, MO Data & Demographics (As of July 1, 2023)

POPULATION
Total Population	525 (100%)
Population in Households	525 (100.0%)
Population in Families	430 (81.9%)
Population in Group Quarters¹	0
Population Density	823
Diversity Index²	62


INCOME
Median Household Income	$33,944
Average Household Income	$57,647
% of Income for Mortgage⁴	9%
Per Capita Income	$23,388
Wealth Index⁵	38
Socioeconomic Status Index⁶	Low (39.0)

HOUSING
Total HU (Housing Units)	272 (100%)
Owner Occupied HU	116 (42.6%)
Renter Occupied HU	97 (35.7%)
Vacant Housing Units	59 (21.7%)
Median Home Value	$48,333
Average Home Value	$74,569
Housing Affordability Index³	284

HOUSEHOLDS
Total Households	213
Average Household Size	2.46
Family Households	147
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Parma, MO - Peer Comparisons by Rank and Percentile

The table below compares Parma to the other 1,082 incorporated cities, towns and CDPs in Missouri by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2023	2023-2028
Population	-1.70%	-1.17%
Households	-1.67%	-1.05%
Families		-0.83%
Median Household Income		4.93%
Per Capita Income		2.53%
Owner Occupied HU		-0.17%

Variable Description	Rank	Percentile
Total Population	# 493	55th
Population Density	# 448	59th
Median Household Income	# 1021	6th
Housing Affordability Index	# 1064	98th
Per Capita Income	# 927	14th
Diversity Index	# 36	97th

Parma, MO Profile: Facts & Data

Parma, Missouri - Basic Facts

Parma, MO Data & Demographics (As of July 1, 2023)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Parma, MO - Peer Comparisons by Rank and Percentile

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