79245 Memphis, TX is a neighborhood that has an estimated population of 1,410 people. The median rent in the area is $740 which makes it more affordable than the US average of $1,430 per month for a 2 bedroom apartment. The Grocery Cost Index in 79245 Memphis is 88 versus 100 in the US which indicates that groceries are less expensive in this area than elsewhere.
The local economy in 79245 Memphis is mainly supported by two main businesses: King's Dry Cleaners and Moore Packing Company. King’s Dry Cleaners provides dry-cleaning services to the community while Moore Packing Company offers custom processing and packaging for food products. These companies provide job opportunities to local residents and contribute to the community's economic stability.
Memphis (zip 79245) has an unemployment rate of 7.0%. The US average is 6.0%.
Memphis (zip 79245) has seen the job market decrease by -1.0% over the last year. Future job growth over the next ten years is predicted to be 12.0%, which is lower than the US average of 33.5%.
Tax Rates for Memphis (zip 79245)
- The Sales Tax Rate for Memphis (zip 79245) is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Memphis (zip 79245) 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 79245)
- The average income of a Memphis (zip 79245) resident is $21,642 a year. The US average is $37,638 a year.
- The Median household income of a Memphis (zip 79245) resident is $42,310 a year. The US average is $69,021 a year.