Memphis, FL
Population 10,626 · Florida
About Memphis, FL
Memphis is a mid-sized city located in Florida with a population of 10,626 residents according to the latest US Census Bureau American Community Survey data. The median household income is $71,967 per year, which is 4% below the national median of $75,149. The median age of 35.8 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Memphis features a median home value of $292,200, which is 19% above the national median of $244,900. This positions Memphis in a moderately priced market relative to the rest of the country. Median monthly rent is $1,155, 1% below the national average of $1,163/month. Of the 4,028 total housing units, 72% are owner-occupied (2,419 units) and 28% are renter-occupied (933 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Memphis shows an unemployment rate of 7.8%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 23.0%, above the national average of 12.4%. Workers in Memphis have an average one-way commute time of 26.6 minutes.
Education & Demographics
20.4% of Memphis residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 29.8% White, 0.4% Hispanic or Latino, 1.5% Black or African American, and 2.7% Asian residents, with 13.9% of the population being foreign-born.
Cost of Living in Memphis, FL
Compared to national averages, Memphis has a median household income of $71,967 (4% below the national median of $75,149). Home values average $292,200, which is 19% above the national median. Monthly rent at $1,155 is 1% below the US average of $1,163. Within Florida, Memphis's income is 5% below the state average of $75,893, and home values are 17% below the state median of $353,675.
Why Live in Memphis, FL?
Memphis offers rent that’s lower than the national average at $1,155/month.
Potential considerations include median household income ($71,967) that falls below the national average. However, Memphis’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Memphis has a population of 10,626 with a median age of 35.8 years. Compare Memphis with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Memphis
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Alachua | 10,638 | $78,526 | $285,700 | Compare |
| Pine Ridge CDP (Citrus County), Florida | 10,676 | $66,131 | $354,600 | Compare |
| Palatka | 10,558 | $33,628 | $112,300 | Compare |
| Fuller Heights | 10,697 | $80,021 | $262,000 | Compare |
| Pebble Creek | 10,719 | $109,375 | $384,500 | Compare |
| Milton | 10,485 | $72,676 | $195,600 | Compare |
| Westwood Lakes | 10,768 | $87,341 | $465,000 | Compare |
| Lighthouse Point | 10,463 | $92,268 | $667,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Memphis With Other Cities
Frequently Asked Questions about Memphis
What is the population of Memphis, FL?
The population of Memphis, FL is 10,626 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Florida.
What is the median household income in Memphis?
The median household income in Memphis, FL is $71,967 per year, which is 4% below the national median of $75,149.
What is the median home value in Memphis?
The median home value in Memphis, FL is $292,200, which is 19% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Memphis?
The median monthly rent in Memphis, FL is $1,155, which is 1% below the national average of $1,163/month.
What is the unemployment rate in Memphis?
The unemployment rate in Memphis, FL is 7.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Memphis, FL a good place to live?
Memphis offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 10,626 and a median age of 35.8, the city appeals to a broad range of residents.
How educated is Memphis, FL?
20.4% of residents in Memphis aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Memphis?
Key cost-of-living indicators for Memphis, FL: median home value is $292,200 (19% above national), median rent is $1,155/month, and median household income is $71,967. The home-value-to-income ratio is 4.1x, a moderate figure by national standards.
What is the poverty rate in Memphis?
The poverty rate in Memphis, FL is 23.0%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Memphis, FL?
Memphis's population is 29.8% White, 0.4% Hispanic or Latino, 1.5% Black or African American, 2.7% Asian, and 29.0% two or more races. 13.9% of residents are foreign-born.