Table
| Population | |
|---|---|
| Income & Poverty | |
| Median household income (in 2019 dollars), 2015-2019 | $41,228 |
| Per capita income in past 12 months (in 2019 dollars), 2015-2019 | $25,605 |
| Persons in poverty, percent | 25.1% |
Contents
What is a good salary in Memphis?
In Memphis, the site lists the median income as $38,230 a year, but says the needed income if you’re a homeowner is $63,595 a year, and that the needed income if you’re a renter is $69,331.
Is Memphis a low income city?
Data from the 2018 American Community Survey Released in September 2019. Who are the Memphis Poor? The city of Memphis has a poverty rate of 27.8%. Child poverty is 44.9%, while the poverty rate for people over age 65 is the lowest of any age group at 15.8%.
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.
What is the average pay for Memphis TN?
Average Salary in Memphis, TN
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $84,893 | $41 |
| 75th Percentile | $69,801 | $34 |
| Average | $58,468 | $28 |
| 25th Percentile | $46,691 | $22 |
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.
Is it expensive to live in Memphis?
Memphis’s housing expenses are 34% lower than the national average and the utility prices are 3% higher than the national average. Transportation expenses like bus fares and gas prices are 11% lower than the national average. Memphis has grocery prices that are 9% lower than the national average.
Is Memphis the poorest city in America?
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.
Where is the poorest county in Tennessee?
Grundy County
In Tennessee, Grundy County is one of the rural communities struggling, and was named the by 24/7 Wall Street as the worst place to live in the state.
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 |
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 average household income in Nashville TN?
Median and Average Income in Nashville top
| Y-o-Y Change | ||
|---|---|---|
| Average Household Income | $92,485.88 | 5.0% |
| Median Household Income | $60,380.00 | 10.8% |
| People below Poverty Level | 67,126 | -9.2% |
| People above Poverty Level | 363,153 | 2.2% |
What is the federal poverty level for 2021?
$26,500
For a family or household of 4 persons living in one of the 48 contiguous states or the District of Columbia, the poverty guideline for 2021 is $26,500.
What is considered a good salary in Mississippi?
While ZipRecruiter is seeing salaries as high as $117,844 and as low as $17,763, the majority of salaries within the Average jobs category currently range between $42,891 (25th percentile) to $64,121 (75th percentile) with top earners (90th percentile) making $77,985 annually in Mississippi.
What is the unemployment rate in Memphis TN?
The unemployment rate in Memphis peaked in April 2020 at 13.4% and is now 8.1 percentage points lower.
Memphis, Tennessee Unemployment History.
| Date | November 2020 |
|---|---|
| National Unemployment Rate | 6.7% |
| Tennessee Unemployment Rate | 5.6% |
| Memphis Unemployment Rate | 7.2% |
What is the average pay in the US?
The average annual wage in 2019 in the US was $51,916.27, and the median annual wage was $34,248.45. The median wage is the wage “in the middle,” while average refers to the measure of central tendency for all the data. There is a big difference between the average and median wage data.
Is Memphis worth moving to?
Low cost of Living – One of the things that makes Memphis so attractive to people who are relocating is the low cost of living. From the price of dinner, the utilities of a household and the cost of housing itself to the price of other good and services. The city itself boasts a 91.8 on the cost of living index.
What is the average 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 is the most comfortable salary?
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437.
What are the pros and cons of living in Memphis Tennessee?
Here are the key pros and cons of moving to Memphis, TN:
| The Pros of Living in Memphis | The Cons of Living in Memphis |
|---|---|
| You’ll enjoy sports | High sales tax |
| Memphians are friendly | You’ll need a car to move around in Memphis |
| Top-quality education | You may have to deal with tornadoes and violent storms |
What is the average water bill in Memphis?
MLGW started collecting data on rates in the early 1990s. Memphis continues to outperform many cities in terms of what customers pay for electricity, natural gas, water and wastewater services. Last year, a typical winter residential bill was $253.09. This year, the bill decreased to $244.10, a difference of $8.99.
