Shelby County · Tennessee · South · 619k residents
Memphis, TN: economy, jobs & business costs
The site-selection read on Memphis: labor costs, talent, corporate tax, energy, and business activity, with the Tennessee median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: Curated city row; coverage varies by fact.
Average weekly wages in the surrounding labor market run $1,424/wk. Tennessee's corporate income tax rate is 6.5%. Commercial electricity averages 12.1¢/kWh.
Compare Memphis side by side
Avg. weekly wage
$1,424/wk
Corporate income tax
6.5%
Bachelor's degree or higher
28%
Commercial electricity
12.1¢/kWh
Economic momentum
How fast Memphis's economy is moving, ranked against the US cities we track.
2/100
Cooling
Ranks Memphis's jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| Median home value | $190,000 |
| Price per sq. ft. | $115 |
| Property tax rate | 1.35% |
| 1-bedroom rent | $1,050/mo |
| 2-bedroom rent | $1,250/mo |
| State & local income tax | 0% |
| Sales tax | 9.75% |
| Corporate income tax | 6.5% |
| Avg. weekly wage | $1,424/wk |
| Bachelor's degree or higher | 28% |
| Commercial electricity | 12.1¢/kWh |
| Businesses per 1k residents | 24.8/1k |
| Wage: Software developer | $125,580 |
| Wage: Registered nurse | $81,500 |
| Wage: General manager | $102,510 |
| Wage: Customer service | $44,090 |
| Wage: Warehouse worker | $37,280 |
| Wage: Heavy truck driver | $63,070 |
| Wage: Electrician | $60,890 |
| Wage: Retail salesperson | $32,580 |
| Cost of living index | 86 |
| Groceries index | 93 |
| Utilities | $165/mo |
| Transit pass | $50/mo |
| Gas price | $2.85/gal |
| Healthcare index | 92 |
| Childcare (per child) | $900/mo |
| Median household income | $51,000 |
| Unemployment rate | 4.7% |
| Population | 619k |
| Crime index | 68/100 |
| School rating | 4.5/10 |
| Walkability | 35/100 |
| Disaster risk | 99/100 |
| Avg. commute | 23 min |
| Sunny days / year | 218 days |
| July high | 92°F |
| January low | 33°F |
| Annual snowfall | 3 in |
| Home price YoY | -3.1% |
| Home price MoM | -0.5% |
| Rent YoY | +0.8% |
| Rent MoM | +0.2% |
| Employment (jobs) YoY | -2.5% |
| Building permits YoY | — |
| Ocean coast | 327 mi |
| Big lake | 154 mi |
| Mountains | 181 mi |
| Major airport | 3 mi |
| Ski resort | 245 mi |
Popular comparisons
Nearby
- Germantown, TN · 41k
- Bartlett, TN · 57k
- Collierville, TN · 52k
- Arlington, TN · 15k
- Jackson, TN · 68k
Similar size
- Nashville, TN · 690k
- Knoxville, TN · 195k
- Chattanooga, TN · 186k
- Clarksville, TN · 176k
- Murfreesboro, TN · 161k
Real listings in Memphis
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Memphis a good place to run a business?
- Tennessee's corporate income tax rate is 6.5%; average weekly wages in the surrounding labor market run $1,424/wk; commercial electricity averages 12.1¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Memphis, TN?
- Memphis indexes at 86 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,250/mo and a median home value of $190,000.
- How much does a house cost in Memphis?
- The median home value in Memphis is $190,000 (compiled estimate; individual listings vary).
- How much is rent in Memphis?
- A two-bedroom in Memphis rents for about $1,250/mo.