Memphis, TN
Population 629,063 · Tennessee
About Memphis, TN
Memphis is a major city in Tennessee with a population of 629,063 residents. The median household income is $51,211 per year, which is near the national average. The median age in Memphis is 34.3 years.
Housing in Memphis has a median home value of $157,100 and median monthly rent of $1,123. Of the 292,290 total housing units, renting is more common than owning, with 117,061 owner-occupied and 137,469 renter-occupied units.
The unemployment rate in Memphis is 8.3% and the poverty rate is 22.5%. 28.2% of residents hold a bachelor's degree or higher. The average commute time is 21.3 minutes.
How Memphis Ranks in Tennessee
Cost of Living in Memphis, TN
Compared to national averages, Memphis has a median household income of $51,211 (32% below the national median of $75,149). Home values average $157,100, which is 36% below the national median. Monthly rent at $1,123 is 3% below the US average of $1,163. Within Tennessee, Memphis's income is 19% below the state average of $62,849, and home values are 27% below the state median of $214,371.
Why Live in Memphis, TN?
Memphis offers affordable housing with a median home value of $157,100, below the US average of $244,900, and rent that’s lower than the national average at $1,123/month, and short commute times averaging just 21.3 minutes.
Potential considerations include median household income ($51,211) that falls below the national average. However, as a major city, Memphis provides access to a wide range of amenities and services.
Memphis has a population of 629,063 with a median age of 34.3 years. Compare Memphis with other cities to see how it stacks up, or explore all cities in Tennessee.
Similar Cities Near Memphis
Cities in Tennessee with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Nashville-Davidson metropolitan government (balance), Tennessee | 684,298 | $75,197 | $383,100 | Compare |
| Knoxville | 193,721 | $50,994 | $214,000 | Compare |
| Chattanooga | 182,832 | $61,028 | $259,200 | Compare |
| Clarksville | 171,897 | $66,786 | $236,100 | Compare |
| Murfreesboro | 157,547 | $76,241 | $365,100 | Compare |
| Franklin | 85,575 | $115,000 | $646,300 | Compare |
| Johnson City | 71,455 | $55,429 | $238,000 | Compare |
| Jackson | 68,098 | $51,552 | $195,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Tennessee
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, TN?
The population of Memphis, TN is 629,063 according to the latest Census data.
What is the median household income in Memphis?
The median household income in Memphis, TN is $51,211 per year.
What is the median home value in Memphis?
The median home value in Memphis, TN is $157,100.
What is the average rent in Memphis?
The median monthly rent in Memphis, TN is $1,123.
What is the unemployment rate in Memphis?
The unemployment rate in Memphis, TN is 8.3%.