Economy in Memphis, Tennessee

The economy of Memphis, Tennessee is mainly centered around the shipping industry due to its strategic location on the Mississippi River which makes it ideal for freight transport. Additionally, manufacturing companies such as Electrolux AB have established operations nearby while tourism continues to be an important source of revenue and employment opportunities for local residents.

Memphis has an unemployment rate of 8.0%. The US average is 6.0%.

Memphis has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 36.6%, which is higher than the US average of 33.5%.

Tax Rates for Memphis
- The Sales Tax Rate for Memphis is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Memphis is 0.0%. 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 $21,909 a year. The US average is $28,555 a year.
- The Median household income of a Memphis resident is $37,099 a year. The US average is $53,482 a year.

INCOME BY POPULATION PERCENT

ECONOMY	Memphis, Tennessee	United States
	8.0%	6.0%
	-5.9%	-6.2%
	36.6%	33.5%
	9.3%	6.2%
	0.0%	4.6%
	$23,629	$31,177
	$38,230	$57,652
	$45,673	$70,850
POPULATION BY OCCUPATION
	0.2%	1.3%
	0.0%	0.6%
	5.2%	6.2%
	8.2%	10.4%
	3.4%	2.7%
	11.3%	11.6%
	11.4%	4.1%
	0.6%	0.9%
	1.6%	2.1%
	3.3%	4.7%
	1.7%	1.9%
	4.0%	6.7%
	0.1%	0.1%
	6.6%	4.3%
	8.5%	9.3%
	14.2%	13.8%
	2.0%	2.2%
	8.3%	7.4%
	5.1%	4.9%
	4.4%	4.8%

ECONOMY MAP

Unemployment Rate (US Avg: 6%)

Median HH Income (US Avg: $53k)

Recent Job Growth (US Avg: 1.59%)

Income Less Than $15k (US Avg: 12.55%)

Income Greater Than $200k (US Avg: 5.03%)

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Reviews for Memphis 148 Reviews

I was mugged my first night in Memphis. - 9/6/2021
I was mugged my very first night in Memphis. They tried to take my iPhone. I was walking only a block from my house in a "safe" area, too.... Read More

Jorge | Memphis, TN | Reply | No Replies

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Beautiful City but crime and poor infrastructure - 5/24/2021
Memphis is a city with a history of civil rights, slavery , blues and rockn'roll music. It's a great place for a weekend getaway. This city has lots of great things to... Read More

Patricia | Memphis, TN | Reply | No Replies

A mess - 12/18/2020
Do you like being panhandled every 30 seconds? Love that cool ambiance of gangs? Are drugs your thing? Then you will love Memphis. Had good times here in the 90’s, the... Read More

David | Chattanooga, TN | Reply | 2 Replies

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MAPS OF MEMPHIS, TENNESSEE

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ZIP CODES IN MEMPHIS, TENNESSEE

38016, 38128, 38127, 38134, 38109, 38111, 38115, 38116, 38118, 38018, ... 30 more

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