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Is moving to Memphis, TN right for you?

Music is to Memphis what life is to the living. Memphis is known for blues, rock 'n' roll, soul music, and some of Tennessee's leading tourist spots. Memphis has one of the lowest costs of living in the entire United States and homes are easily affordable in the city.

Famous for its endless entertainment, Memphis is Tennessee's second most populous city and one of the best places to live in Tennessee. Memphis spectacular outdoor activities, great weather, and shorter commute time makes it a perfect place for many millennials.

If you'd like to live in a city where every day is a holiday, and the entertainment is endless, moving to Memphis Tennessee is right for you. To help you weigh your options carefully before making a decision, we've curated key data about living in Memphis.

Here's all you need to know before making up your mind about moving to Memphis:

QuickFacts

Quick stats to know before moving to Memphis, TN?

Learn some facts about Memphis before moving to the city to help you decide if it's the right place for you.

  • The average household income of Memphis residents is $59,730
  • The poverty rate in Memphis is 26.81%
  • The temperature in Memphis typically ranges from 34??? to 91???
  • The average rental price in Memphis is $825
  • The median home value in Memphis is $106,412
  • TMemphis average one-way commute time is 21.7 minutes
  • Memphis average job pay per hour is $30
  • Crime rates in Memphis are 224% higher than the U.S. average

What's the population of Memphis, TN?

How many people call Memphis their home? Before making up your mind about moving to Memphis, The Population of Memphis is 651,073 and it's the second largest city in Tennessee. Here's a simple breakdown of the city's population:

  • Female: 52.61%
  • Male: 47.39%
  • Old age dependency ratio: 19.6
  • Child dependency ratio 40.4
  • Median age of the population: 33.8
  • Overall marriage rate: 31.1%
  • Labor force: 63.2%
  • Unemployment rate: 9.3%

How fast can you commute in Memphis, TN?

How fast can you commute if you're moving to Memphis, TN? Most of the residents in Memphis, TN move around the city with their personal car rather than rely on the public transportation system.

  • Memphis average one-way commute time is 21.7 minutes. The U.S. average is 26.4 minutes.
  • About 81.1% of Memphis residents drive their own car alone
  • Up to 10.7% of Memphis residents carpool with others
  • About 2.8% of Memphis residents work from home
  • Up to 1.9% of Memphis residents take the mass transit

Tip: While moving the home, safety of your belongings is the priority and you need a trustworthy mover at your side. Know the top-rated moving companies in Memphians, TN.

How's the Weather like in Memphis, TN?

Moving to Memphis, TN gives you the opportunity to experience all four seasons in a year. Here's a simple analysis of the weather in Memphis, Tennessee:

  • The temperature in Memphis typically ranges from 34??? to 91???
  • The temperature in Memphis is is hardly below 34??? or above 34???
  • Memphis averages 54 inches of rain per year. The U.S. average is 38 inches per year
  • Memphis averages 3 inches of snow per year. The U.S. average is 28
  • Memphis averages 218 sunny days per year. The U.S. average is 205
  • On average Memphis gets 108 days of precipitation per year.
  • Summers in Memphis are long, and hot
  • Winters in Memphis are wet, windy and cold
  • It's partly cloudy in Memphis, year round
  • Late April to early June and from late August to mid October are best time to visit Memphis for warm weather activities
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10 Reasons why people are moving to Memphis, TN

Memphis, the home of the blues, could be the perfect place for you if you're considering moving to another city. We've curated the key reasons why moving to Memphis is a great idea:

  • Enjoy endless Blues and Rock 'n' Rolls

    The birthplace of Blues and Rock 'n' Rolls is a destination to catch up with endless music. On every nook and corner of the city, you will come across a music club playing live music and every second person in Memphis is a crazy music lover looking for an opportunity to display his talent. There’s no place on the planet as Memphis to explore Rock 'n' Rolls.

  • Memphis is rated as one of the ten best cities for startups

    Memphis is the 7th best city to start a business in the US. The availability of resources, attractive corporate taxes, labor costs, industry variety, and the affordability of office space per square foot play major roles in making Memphis a hot start-up destination.

  • Memphis has one of the lowest costs of living in the U.S.

    The housing expenses in Memphis are 34% lower than the national average and transportation expenses like bus fares and gas prices are 11% lower than the national average. While the median home rent in this Tennessee city is $825 per month, you could own a home for $228,326. This is much lower when compared to nearby cities, such as Nashville.

  • Affordable homes

    One of the great things about Memphis is affordable accommodation. You can rent a studio apartment for $683 and a one-bedroom house for $770. The monthly rent for a two-bedroom home is approximately $908 while a three-bedroom house is $1,240.

    You can buy a medium house in Memphis for $124,779, which is much lower than the national average. However, home values have gone up 19.7% over the past year.

  • Remarkable outdoor living

    In Memphis, you don’t need to stay inside either in winter or in summer. Whether it's hitting the links, the trails, or family-focused attractions, Memphis is a stellar choice for outdoor enthusiasts to explore, almost year-round.

    Here are a few activities to engage outside in Memphis:

    • Go on a bike ride
    • Hit some of the good parks with the family
    • Conquer the obstacles at GoApe Treetop Adventure Course
    • Watch the sunset and Mighty Lights
    • Visit Shelby Forest
    • See the bison at Shelby Farms
    • Shop at a farmer's market
    • Visit the Dixon or the Memphis Botanic Garden
    • Take a public art or mural tour
    • Canoe or kayak on the Mississippi or the Ghost
  • Every day is a holiday, enjoy endless events

    From music fests to foodie feasts, Memphis is packed with festivals year-round and the city is always in the festival mood. Here are some of the must-explore events and festivals in Memphis:

    • World Championship Barbecue Cooking Contest
    • Great American River Run
    • Mid-South Pride Parade & Festival
    • Roar and Pour
    • Elvis Week
    • World Championship Hot Wing Contest & Festival
    • Memphis Chicken & Beer Festival
    • Southern Heritage Classic Weekend
    • Mid-South Fair
    • Bartlett Festival
    • Mempho Music Festival
    • Memphis Brewfest & Brunchfest
    • Memphis Food & Wine Festival
    • Memphis Fashion Week
    • Memphis Tequila Festival
  • Tennessee has no state income tax and so is Memphis

    Tennessee does not levy tax on your earnings which means your bank account will be fatter than your friends in other states. However, there is a 6% tax on interest and dividends and a 7% sales tax.

  • It's one of the happiest cities to work in the U.S.

    From the pristine scenic beauty to the lip-smacking goodness that is Memphis-style barbecue, the residents have got reasons to be happy living here. Memphis is ranked the 9th happiest city in the country in 2023 and also the 7th most spiritually fulfilled city. In professional life, Memphis ranks 4th happiest city in the US to work.

  • You'll enjoy all four seasons

    The 4 distinct kinds of weather make Memphis a comfortable place to live and work year-round.

    The city experiences all 4 kinds of weather – winter, summer, spring & fall. The summers are long, hot, and muggy while winters are short, very cold, wet, and windy. Thunderstorms can happen any time of the year but are common in the spring months.

  • Amazing food

    The delicacies at Memphis are mouthwatering and mostly famous for slow-cooked, dry rub barbecue ribs. However, Memphis cuisines are not just limited to barbecues but the food diversity is large.

    Here are a few dishes you should not miss in Memphis:

    • BBQ tofu nachos
    • Lemongrass tofu taco salad
    • Cornish game hen
    • Skillet of shrimp
    • Chopped pork sandwich
    • Lobster Pronto Pup
    • Pulled pork sandwich
    • Portobello sandwich
    • Soul Burger
pros and cons of Phoenix

What are the Pros and Cons of Living in Memphis, TN?

Moving to Memphis gives you good job opportunities completed with a low cost of living and no income tax. In addition, fuelled with high voltage music, Memphis is a city with a pulse.

Moreover, the city is surrounded by serene settings. But Memphis has also got reasons not to move here. You need to study both the pluses and minuses of Memphis before taking the final call. To help you, we have got the honest pros and cons of living in Memphis.

Here are the key pros and cons of moving to Memphis, TN:

The Pros of Living in Memphis
  • Great housing market
  • Dependable healthcare system
  • Enjoy endless entertainment
  • Growth in tech jobs
  • You'll enjoy sports
  • Memphians are friendly
  • Top-quality education
  • Great commuting network with shorter commuting time
  • Memphis is a foodie's paradise
  • The weather is remarkable
The Cons of Living in Memphis
  • Memphis has one of the highest crime rates in the U.S.
  • The traffic in Memphis is terrible
  • Sometimes the heat in Memphis is unbearable
  • Memphis has one of the worst poverty rates in the U.S.
  • High sales tax
  • You'll need a car to move around in Memphis
  • You may have to deal with tornadoes and violent storms
  • Traveling to anywhere from Memphis is difficult
  • Bugs everywhere, mosquitoes, chiggers, and more
  • Poor public transportation system
  • Grocery and utilities are below average

What are the best places to live in Memphis, TN?

Memphis, TN is home to many neighborhoods. Since you're considering moving to Memphis, TN, the following are the best places to live in the city using data from HomeSnacks:

Here are the 10 best neighborhoods in Memphis, TN:

Rank Neighborhood Population Home Value Median Income
1 Windyke-Southwind 10,884 $275,875 $85,767
2 Cordova-Appling 83,223 $143,825 $65,003
3 Eads-Fisherville 14,121 $197,233 $77,857
4 River Oaks-Kirby-Balmoral 42,038 $169,116 $64,831
5 East Memphis-Colonial-Yorkshire 107,753 $133,731 $47,789
6 Hickory Ridge-South Riverdale 92,024 $90,668 $45,212
7 Raleigh 54,460 $68,098 $37,105
8 Midtown 62,752 $96,608 $34,572
9 Berclair-Highland Heights 33,880 $54,679 $29,979
10 White Haven-Coro Lake 88,153 $69,690 $34,319

What's the Cost of Living in Memphis, TN?

Memphis is one of the least expensive cities to live in the United States. The cost of living in Memphis is rated 76.0 using a United States average of 100. This means the cost of living in Memphis is 24 times lower than the United States average. If you're moving to Memphis, you wouldn't have to bother about the high cost of living. Housing is rated as the most significant factor in the cost of living metric.Also, you can calculate your cost of moving to Memphis using a free moving cost calculator. You can request for free moving quotes to get multiple quotes from professional moving companies.

What's the average home rental price in Memphis, TN?

Since you're mulling over moving to Memphis, you should be aware that the city has some of the least expensive rental markets in the entire United States. Renting a home in Memphis is fairly easy and 5.3% of homes in the city are available to rent, the United States average is 2.1.

In Memphis, renters make up 41.9% of the population and since you're considering moving to Memphis, you may decide to buy or rent a home. To help you get started, since you're contemplating moving to Memphis, TN here's a simple analysis of the Memphis rental market compared to the U.S. average.

  • The average rental price in Memphis is $825. The U.S. average is $1,470
  • Average rental price for a studio apartment is $683. The U.S. average is $821
  • Average rental price for a 1-bedroom apartment is $770. The US. Average is $930
  • Average rental price for a 2-bedroom home is $908. The U.S. average is $1,148
  • Average rental price for a 3-bedroom home is $1240. The U.S. average is $1,537
  • Average rental price for a 4-bedroom home is $1426. The U.S. average is $1,791

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What's the average salary and income in Memphis, TN?

How much will you start earning if you move to Memphis, TN? Depending on your current location, you may end up earning more or less when you move to Tennessee. Let's find out how much you will most likely earn in Tennessee.

  • Memphis average job pay per hour is $30
  • Average job pay per month in Memphis is $5,240
  • Memphis average job pay per week is $1,209
  • The average annual pay for jobs in Memphis is $62,883 a year
  • Memphis averages 218 sunny days per year. The U.S. average is 205
  • Some annual salaries are as high as $128,283 or as low as $19,337
  • The average pay range for an average job in Memphis is $23,110

How is the job market in Memphis?

The booming economy of Memphis has significantly contributed to the city’s job market. One of the robust economies in the Southeastern United States, Memphis’ job sector highly stresses manufacturing, transportation, and shipping. If you're mulling over moving to Memphis, here are all the key information you need to know about the city’s job market:

  • Three Fortune 500 companies, FedEx, AutoZone, and International Paper Co. are headquartered in Memphis
  • About 34.5% of the jobs are in the manufacturing and transportation sector.
  • Memphis has an unemployment rate of 8.0%.
  • The job market has increased by 2.1% over the last year.
  • The job market in Memphis is expected to grow by about 36% in the next 10 years.
  • The average income of a Memphis resident is $21,909 a year

What are the best-paid jobs in Memphis?

While moving to Memphis, it is important you know the best-paid jobs as you may consider switching the career. To know the job market better, we’ve listed the top-paid jobs in Memphis.

  • Internists, General
  • Surgeons
  • Physicians and Surgeons, All Other
  • Pediatricians, General
  • Chief Executives
  • Family and General Practitioners
  • Lawyers
  • Natural Sciences Managers
  • Computer and Information Systems Managers
  • Personal Financial Advisors
  • Financial Managers

Which are the top companies in Memphis?

Memphis is home to hundreds of companies, both small and large, giving jobs and contributing to the city’s economy for long decades. Here are some of the companies that made the best use of the business climate in Memphis and grew up as top players.

  • FedEx
  • AutoZone
  • International Paper
  • TruGreen Lawn Care
  • Sedgwick CMS Holdings
  • ServiceMaster
  • Methodist Healthcare
  • Baptist Memorial Health Care
  • Terminix
  • Pinnacle Airlines
  • First Horizon National

How Is the Housing Market in Memphis, TN?

Looking to buy a home in Memphis after moving to the city? We have collated key metrics of the Memphis real estate market to help you put the right foot forward.

What's the average cost of buying a home in Memphis, TN?

One of the best parts of moving to Memphis is that the city's real estate market is known for having some of the most affordable homes in the entire United States. More than 50% of Memphis residents are homeowners and the city's real estate value is constantly on the rise. Here's a simple analysis of Memphis real estate market:

  • Memphis, TN median home value is $106,412
  • Single-family detached homes are the most common types (60.10%) of homes in Memphis
  • Three- and four-bedroom homes are the most common building type and size
  • Memphis real estate cumulative appreciation rate over the ten years has been 34.26
  • Memphis homes annual average appreciation rate is 2.99%
  • At 6.42% appreciation rate in the past 12 months, Memphis is one of the highest appreciating communities in the nation

How’s the healthcare in Memphis?

Before you make a call to move to Memphis, it is important to know the city’s health system. Despite ranking high in healthcare, life expectancy is lower in Memphis than the national average and the city also has serious obesity issues.

Let’s take a look at a few health-related facts in Memphis:
  • The average life expectancy in Memphis is 76 years and this is lower than the national life expectancy of 78 years.
  • Getting affordable and healthy food is a serious concern in Memphis, where 33% of the population live a mile away from a grocery store.
  • Infant mortality rate in Memphis has drastically come down in recent years.
  • About 6.4% of the population in Memphis is diabetic.
Here’s a list of top-rated hospitals in Memphis:
  • Baptist Memorial Hospital-Memphis
  • Methodist Hospitals of Memphis
  • Baptist Memorial Hospital- Crittenden
  • Baptist Memorial Hospital for Women
  • Crestwyn Behavioral Health
  • Delta Medical Center
  • Encompass Health Rehabilitation Hospital of North Memphis
  • Lakeside Behavioral Health System-Memphis

What are the best places to live in Memphis, TN?

Memphis, TN is home to many neighborhoods. Since you're considering moving to Memphis, TN, the following are the best places to live in the city using data from HomeSnacks:

Here are the 10 best neighborhoods in Memphis, TN:

Rank Neighborhood Population Home Value Median Income
1 Windyke-Southwind 10,884 $275,875 $85,767
2 Cordova-Appling 83,223 $143,825 $65,003
3 Eads-Fisherville 14,121 $197,233 $77,857
4 River Oaks-Kirby-Balmoral 42,038 $169,116 $64,831
5 East Memphis-Colonial-Yorkshire 107,753 $133,731 $47,789
6 Hickory Ridge-South Riverdale 92,024 $90,668 $45,212
7 Raleigh 54,460 $68,098 $37,105
8 Midtown 62,752 $96,608 $34,572
9 Berclair-Highland Heights 33,880 $54,679 $29,979
10 White Haven-Coro Lake 88,153 $69,690 $34,319

How safe is Memphis to live?

Before making up your mind about moving to Memphis, TN, you should be aware about the city's crime rates to decide if it's the right place for you or not. So, we've curated key metrics about crime rates in Memphis, using data from NeighborhoodScout to help you get started.

  • Crime rates in Memphis are 224% higher than the U.S. average
  • Memphis violent crime rates are 411% higher than the U.S. average
  • You have a 1 in 12 chance of becoming a victim of crime in Memphis
  • The year over year crime rates of Memphis had increased by 1%
  • Memphis isn't safer than any city in the United States
  • Memphis has one of the worst crime rates in the United States

What are the best schools in Memphis, TN?

If you have school-age kids and considering moving to Memphis, TN, we've curated a list of the top-rated schools in the state. Here they are:

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