Memphis, TN is a city with zip code 38103 and it has an average two bedroom rent of $1,500. This is higher than the national average two bedroom rent of $1,430. Additionally, Memphis residents also have to contend with slightly higher grocery costs index at 101 compared to the US’s 100. Despite these potential drawbacks, Memphis is home to many large companies such as AutoZone, International Paper Company, First Horizon National Corporation and Fred's Inc. Furthermore, the city also boasts many small businesses that contribute to its economy, making it a great place for those looking for employment or business opportunities.
Memphis (zip 38103) has an unemployment rate of 8.0%. The US average is 6.0%.
Memphis (zip 38103) has seen the job market decrease by -5.9% 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 (zip 38103)
- The Sales Tax Rate for Memphis (zip 38103) is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Memphis (zip 38103) 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 (zip 38103)
- The average income of a Memphis (zip 38103) resident is $63,196 a year. The US average is $37,638 a year.
- The Median household income of a Memphis (zip 38103) resident is $79,307 a year. The US average is $69,021 a year.