Memphis, MO
Population 1,860 · Missouri
About Memphis, MO
Memphis is a small town located in Missouri with a population of 1,860 residents according to the latest US Census Bureau American Community Survey data. The median household income is $49,598 per year, which is 34% below the national median of $75,149. The median age of 37 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Memphis features a median home value of $117,200, which is 52% below the national median of $244,900. This makes Memphis one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $491, 58% below the national average of $1,163/month. Of the 889 total housing units, 72% are owner-occupied (466 units) and 28% are renter-occupied (183 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Memphis shows an unemployment rate of 2.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 12.7%, above the national average of 12.4%. Workers in Memphis have an average one-way commute time of 16.1 minutes, one of the shorter commutes in the region.
Education & Demographics
17.1% 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 0.0% White, 1.7% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Memphis, MO
Compared to national averages, Memphis has a median household income of $49,598 (34% below the national median of $75,149). Home values average $117,200, which is 52% below the national median. Monthly rent at $491 is 58% below the US average of $1,163. Within Missouri, Memphis's income is 19% below the state average of $61,047, and home values are 22% below the state median of $150,786.
Why Live in Memphis, MO?
Memphis offers affordable housing with a median home value of $117,200, below the US average of $244,900, and rent that’s lower than the national average at $491/month, and a strong job market with an unemployment rate of just 2.0%. Additionally, the city features short commute times averaging just 16.1 minutes.
Potential considerations include median household income ($49,598) 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 1,860 with a median age of 37 years. Compare Memphis with other cities to see how it stacks up, or explore all cities in Missouri.
Similar Cities Near Memphis
Cities in Missouri with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Albany | 1,855 | $46,905 | $96,700 | Compare |
| Weston | 1,852 | $91,625 | $246,000 | Compare |
| Milan | 1,883 | $52,647 | $89,700 | Compare |
| Hamilton | 1,909 | $56,548 | $139,200 | Compare |
| Huntsville | 1,806 | $52,266 | $101,500 | Compare |
| Winchester | 1,914 | $87,344 | $209,300 | Compare |
| Lincoln | 1,795 | $60,272 | $123,000 | Compare |
| Holden | 1,936 | $68,324 | $132,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Missouri
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, MO?
The population of Memphis, MO is 1,860 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Missouri.
What is the median household income in Memphis?
The median household income in Memphis, MO is $49,598 per year, which is 34% below the national median of $75,149.
What is the median home value in Memphis?
The median home value in Memphis, MO is $117,200, which is 52% below 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, MO is $491, which is 58% below the national average of $1,163/month.
What is the unemployment rate in Memphis?
The unemployment rate in Memphis, MO is 2.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Memphis, MO a good place to live?
Memphis offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,860 and a median age of 37, the city appeals to a broad range of residents.
How educated is Memphis, MO?
17.1% 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, MO: median home value is $117,200 (52% below national), median rent is $491/month, and median household income is $49,598. The home-value-to-income ratio is 2.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Memphis?
The poverty rate in Memphis, MO is 12.7%, 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, MO?
Memphis's population is 0.0% White, 1.7% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.2% two or more races. 0.0% of residents are foreign-born.