The two bedroom rent in 38114 Memphis, TN is $870, which is significantly lower than the US average of $1,430. This is attractive for individuals looking to move to the area. The grocery cost index in this zip code of 91 is also quite favorable compared to the US average of 100. When considering groceries, individuals can save money by living in this zip code compared to other areas. Companies located in the area include FedEx Corporation, Smith & Nephew plc and AutoZone Inc. All three companies are headquartered here and employ thousands of local residents. With a lower two bedroom rent and grocery cost index than the US average, 38114 Memphis, TN is an attractive option for many looking for a new place to call home.
Memphis (zip 38114) has an unemployment rate of 8.0%. The US average is 6.0%.
Memphis (zip 38114) 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 38114)
- The Sales Tax Rate for Memphis (zip 38114) is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Memphis (zip 38114) 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 38114)
- The average income of a Memphis (zip 38114) resident is $18,801 a year. The US average is $37,638 a year.
- The Median household income of a Memphis (zip 38114) resident is $28,158 a year. The US average is $69,021 a year.