The city of Memphis, TN (zip code 38104) is a great location for renters looking for a balance between cost effectiveness and convenience. The average two-bedroom rent in the area is $1,100 versus the national average of $1,430. Groceries are also relatively inexpensive with an index score of 99 in comparison with 100 nationally. In addition to lower costs, Memphis offers plenty of local amenities and services to enjoy. From retail stores such as Target and Walmart to locally owned boutiques like At Home on the Hill and Yvonne's Boutique, there is something for everyone. There are also a variety of restaurants ranging from fast food favorites to downtown fine dining establishments like Flight Restaurant & Wine Bar or Local Gastropub. With all these conveniences close by, it’s clear why many choose to make their home in 38104 Memphis, TN.
Memphis (zip 38104) has an unemployment rate of 8.0%. The US average is 6.0%.
Memphis (zip 38104) 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 38104)
- The Sales Tax Rate for Memphis (zip 38104) is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Memphis (zip 38104) 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 38104)
- The average income of a Memphis (zip 38104) resident is $45,039 a year. The US average is $37,638 a year.
- The Median household income of a Memphis (zip 38104) resident is $48,487 a year. The US average is $69,021 a year.