Everything You Need to Know About the City of Memphis Tennessee

In 2018, Memphis, TN had a population of 651k people with a median age of 34.3 and a median household income of $37,199 dollars. Between 2017 and 2018 the population of Memphis, Tennessee declined from 652,231 to 650,632, a -0.245 percent decrease, and its median household income declined from $39,333 dollars to $37,199 dollars, a -5.43 percent decrease.

The population of Memphis, TN is 65.5 percent Black or African American Alone, 24.5 percent White Alone, and 6.89 percent Hispanic or Latino. N/A% of the people in Memphis, TN speak a non-English language, and 95.8 percent are U.S. citizens.

The largest universities in Memphis, TN are the University of Memphis (4,597 degrees awarded in 2017), Southwest Tennessee Community College (1,328 degrees), and The University of Tennessee-Health Science Center (939 degrees).

The median property value in Memphis, TN is $103,700 dollars, and the homeownership rate is 46.5 percent. Most people in Memphis, TN commute by Drove Alone, and the average commute time is 21.4 minutes. The average car ownership in Memphis, TN is 2 cars per household.


Education in Memphis

In 2017, universities in Memphis, TN awarded 11,813 degrees. The student population of Memphis, TN is skewed towards women, with 19,008 male students and 30,021 female students.

Most students graduating from Universities in Memphis, TN are White (5,419 and 47.3 percent), followed by Black or African American (4,816 and 42 percent), Hispanic or Latino (420 and 3.66 percent), and Asian (419 and 3.65 percent).

The largest universities in Memphis, TN by the number of degrees awarded are the University of Memphis (4,597 and 38.9 percent), Southwest Tennessee Community College (1,328 and 11.2 percent), and The University of Tennessee-Health Science Center (939 and 7.95 percent).

The most popular majors in Memphis, TN are Registered Nursing (751 and 6.36 percent), Liberal Arts & Sciences (717 and 6.07 percent), and General Business Administration & Management (640 and 5.42 percent).

The median tuition costs in Memphis, TN is $17,978 dollars for private four-year colleges, and $8,321 dollars and $23,691 dollars respectively, for public four-year colleges for in-state students and out-of-state students.


Economy in Memphis

The economy of Memphis, TN employs 290k people and Memphis has an unemployment rate of 4.6 percent. Memphis has seen the job market increase by 2.1 percent over the last year. Future job growth over the next ten years is predicted to be 36.6 percent, which is higher than the US average of 33.5 percent. The largest industries in Memphis, TN are Transportation & Warehousing (43,196 people), Retail Trade (30,518 people), and Health Care & Social Assistance (40,677 people), and the highest paying industries are Management of Companies & Enterprises ($78,125 dollars), Finance & Insurance ($50,364 dollars), and Public Administration ($45,344 dollars).

Households in Memphis, TN have a median annual income of $37,199 dollars, which is less than the median annual income of $61,937 dollars across the entire United States. This is in comparison to a median income of $39,333 dollars in 2017, which represents a -5.43 percent annual growth.


Tax Rates for Memphis

– The Sales Tax Rate for Memphis is 9.3 percent.

– The Income Tax Rate for Memphis is 0.0 percent.

– Tax Rates can have a big impact when Comparing the Cost of Living.


Income and Salaries for Memphis

– The average earnings of a Memphis resident are $21,909 dollars a year.

– The Median household earnings of a Memphis resident is $37,099 dollars a year.