In 2019, Memphis continued in second place in both overall poverty and child poverty among large Metropolitan Statistical Areas (MSA) with populations greater than 1,000,000 and in child poverty among large cities with populations greater than 500,000.
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What is the poverty income level in Memphis TN?
Despite the income growth, the number of people in the Memphis area living below the poverty level of $24,250 for a family of four grew to more than 256,000 last year, an increase of more than 13,000 from 2015.
Where is the poorest county in Tennessee?
Grundy County
Grundy County has been ranked as the poorest county in Tennessee. Its average household income is just under $27,000 dollars. In comparison, the median income across the state is more than $44,000 dollars.
What is the median salary in Memphis?
– The average income of a Memphis resident is $21,909 a year. The US average is $28,555 a year.
Income and Salaries for Memphis.
| ECONOMY | Memphis, Tennessee | United States |
|---|---|---|
| Income Tax | 0.0% | 4.6% |
| Income per Cap. | $23,629 | $31,177 |
| Household Income | $38,230 | $57,652 |
| Family Median Income | $45,673 | $70,850 |
How many children live in poverty in Memphis?
44.9 percent of children in Memphis are living in poverty. 176,764 of the population in Memphis lives on less than the federal poverty level. These numbers are too high, and too many of our neighbors are still suffering.
Who is the richest person in Memphis TN?
Frederick Smith – Founder of FedEx Corp based in Memphis, TN. Net worth around $2.3 Billion.
What is the cost of living in Memphis?
Memphis cost of living is 76.0
| COST OF LIVING | Memphis | Tennessee |
|---|---|---|
| Grocery | 93.3 | 95.4 |
| Health | 98.4 | 101.9 |
| Housing | 37.1 | 71.2 |
| Median Home Cost | $123,800 | $231,600 |
What’s the richest city in Tennessee?
Belle Meade
So which town was named the richest in Tennessee? With a median household income of more than $250,000 and more than 50% off all households making over $200,000, it’s no surprise that Belle Meade was chosen the wealthiest area of Tennessee. Here are some other statistics that combined to make Belle Meade Number 1.
What is the poorest part of Tennessee?
The Center Square
Morristown was ranked the poorest city in Tennessee in a 24/7 Wall St. analysis examining U.S. municipalities where households earn less than the nation’s median annual household income of $65,712.
What are the wealthiest towns in Tennessee?
The 10 Richest Cities in Tennessee
- Oakland. Oakland is a wealthy suburb of Memphis in southwest Tennessee.
- Spring Hill. Spring Hill, a suburb of Nashville, is one of the 10 richest cities in Tennessee.
- Signal Mountain.
- Germantown.
- Collierville.
- Farragut.
- Thompson’s Station.
- Arlington.
How much do you need to make to live comfortably in Memphis?
Memphis is another city where residents aren’t making enough to really take advantage of the low cost of living the way one would hope. While you would need less than $70,000 a year to live comfortably there, the median earner in the city is making less than $40,000 a year.
What is a good salary in Memphis?
Average Salary in Memphis, TN
| Annual Salary | Weekly Pay | |
|---|---|---|
| Top Earners | $84,893 | $1,632 |
| 75th Percentile | $69,801 | $1,342 |
| Average | $58,468 | $1,124 |
| 25th Percentile | $46,691 | $897 |
Who is the largest employer in Memphis?
FedEx Corp.
Ranked by Local full-time employees
| Rank | Rank / Prior rank / URL | Local full-time employees |
|---|---|---|
| 1 | FedEx Corp. 942 S. Shady Grove Rd. Memphis, TN 38120 901-369-3600 fedex.com | 30,000 |
| 2 | Tennessee State Government 40 S. Main St. Memphis, TN 38103 tn.gov | 14,500 |
| 3 | United States Government Memphis, TN 38103 800-333-4636 usa.gov | 13,400 |
What is the racial makeup of Memphis Tennessee?
According to the most recent ACS, the racial composition of Memphiswas: Black or African American: 64.11% White: 29.23% Other race: 3.28%
What are the poorest ZIP codes in Memphis?
| List of Poorest Zipcodes in Metro Memphis | ||
|---|---|---|
| Rank | Zipcode | Median Household Income |
| 1 | 38126 | $14548 |
| 2 | 38108 | $20747 |
| 3 | 38106 | $24007 |
Is Nashville a poor city?
Nashville reached it’s highest population of in . Spanning over 497 miles, Nashville has a population density of 1,427 people per square mile. The average household income in Nashville is $83,348 with a poverty rate of 15.09%.
Nashville Poverty.
| Name | Poverty |
|---|---|
| Some College | 10.15% |
| Bachelors or Greater | 5.17% |
Who is the wealthiest family in Tennessee?
Thomas J. Frist ranks as the wealthiest. Franklin, Tennesse has another three billionaires with approximately a third of Nashville’s combined wealth.
What is the wealthiest county in Tennessee?
Williamson
Tennessee counties ranked by per capita income
| Rank | County | Per capita income |
|---|---|---|
| 1 | Williamson | $27,925 |
| 2 | Wilson | $27,814 |
| 3 | Davidson | $27,780 |
| 4 | Knox | $27,349 |
How many millionaires live in Tennessee?
List
| Rank | State | Number of millionaire households |
|---|---|---|
| 19 | Tennessee | 139,335 |
| 20 | Indiana | 138,739 |
| 21 | Wisconsin | 138,283 |
| 22 | Missouri | 132,176 |
Is Memphis a cheap place to live?
Suppose you’re considering a move to Memphis. In this case, the good news is that this city has one of the lowest costs of living for a large metro area in the United States, with prices typically well below national averages.Memphis is also an attractive place to live, in addition to being affordable.
Is Memphis Good place to live?
Have you ever wanted to live in a city where music and culture fill the streets? Then Memphis might be the perfect place for you! Not only is the second largest city in Tennessee the birthplace of rock and roll, but it also has affordable housing, great schools, some of the best barbecue, and much more.
