Memphis, TN 38122 is a great place to live. The average two-bedroom rent in the area is $980, significantly lower compared to the US median of $1430. Moreover, the Grocery Cost Index here is 91 versus 100 in the US, making groceries more affordable and accessible. \nLiving in Memphis, TN 38122 also has many other advantages. It has a vibrant business climate with major companies such as FedEx, International Paper, and AutoZone corporate headquarters based there. These large employers provide hundreds of local jobs as well as offer competitive wages and attractive employee benefits packages to ensure that local residents can enjoy a high quality of life. Additionally, many smaller businesses have sprung up around these larger ones offering further job opportunities and economic growth for the city.
Memphis (zip 38122) has an unemployment rate of 8.0%. The US average is 6.0%.
Memphis (zip 38122) 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 38122)
- The Sales Tax Rate for Memphis (zip 38122) is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Memphis (zip 38122) 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 38122)
- The average income of a Memphis (zip 38122) resident is $19,581 a year. The US average is $37,638 a year.
- The Median household income of a Memphis (zip 38122) resident is $40,674 a year. The US average is $69,021 a year.