Memphis, MO is a great place to live with a low cost of living when compared to other cities. The average rent for a two-bedroom apartment is only $760 per month, which is much lower than the United States average of $1,430. Additionally, groceries in Memphis are even cheaper than the national average. According to the Cost of Living Index, the Grocery Cost Index in Memphis is 93 compared to 100 in the United States. Some popular companies in Memphis include Fastenal Company, Midwest Health Services, and Tetra Tech Inc. All this makes Memphis an attractive destination for anyone looking for a new home that won't break their budget!
Memphis has an unemployment rate of 2.4%. The US average is 6.0%.
Memphis has seen the job market decrease by -2.1% over the last year. Future job growth over the next ten years is predicted to be 20.5%, which is lower than the US average of 33.5%.
Tax Rates for Memphis
- The Sales Tax Rate for Memphis is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Memphis is 5.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Memphis
- The average income of a Memphis resident is $17,256 a year. The US average is $28,555 a year.
- The Median household income of a Memphis resident is $38,094 a year. The US average is $69,021 a year.