Memphis, IN
Population 928 · Indiana
About Memphis, IN
Memphis is a small community in Indiana with a population of 928 residents. The median household income is $116,852 per year, which is above the national average. The median age in Memphis is 35.8 years.
Housing in Memphis has a median home value of $233,600 and median monthly rent of $1,173. Of the 376 total housing units, the majority are owner-occupied, with 332 owner-occupied and 44 renter-occupied units.
The unemployment rate in Memphis is 0.0% and the poverty rate is 0.0%. 22.0% of residents hold a bachelor's degree or higher. The average commute time is 26 minutes.
How Memphis Ranks in Indiana
Cost of Living in Memphis, IN
Compared to national averages, Memphis has a median household income of $116,852 (55% above the national median of $75,149). Home values average $233,600, which is 5% below the national median. Monthly rent at $1,173 is 1% above the US average of $1,163. Within Indiana, Memphis's income is 69% above the state average of $69,330, and home values are 43% above the state median of $163,409.
Why Live in Memphis, IN?
Memphis offers a strong local economy with a median household income of $116,852, well above the national average, and affordable housing with a median home value of $233,600, below the US average of $244,900, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a low poverty rate of 0.0%, better than the national average.
Memphis has a population of 928 with a median age of 35.8 years. Compare Memphis with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Memphis
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Gilmer Park | 929 | $61,184 | $142,600 | Compare |
| Colfax | 926 | $61,964 | $114,300 | Compare |
| Palestine | 925 | $89,924 | $134,900 | Compare |
| Goodland | 923 | $56,438 | $92,200 | Compare |
| Converse | 912 | $54,167 | $101,700 | Compare |
| Hamlet | 910 | $68,750 | $109,300 | Compare |
| Fish Lake | 954 | $69,417 | $181,300 | Compare |
| Shipshewana | 902 | $57,679 | $255,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Memphis
What is the population of Memphis, IN?
The population of Memphis, IN is 928 according to the latest Census data.
What is the median household income in Memphis?
The median household income in Memphis, IN is $116,852 per year.
What is the median home value in Memphis?
The median home value in Memphis, IN is $233,600.
What is the average rent in Memphis?
The median monthly rent in Memphis, IN is $1,173.
What is the unemployment rate in Memphis?
The unemployment rate in Memphis, IN is 0.0%.