Memphis Tennessee Household Income
The Census ACS 1-year survey reports that the median household income for the Memphis Tennessee metro area was $55,840 in 2021, the latest figures available. Memphis median household income is $3,855 lower than the median Tennessee household income and $13,877 less than the US median household income. 2022 metro income data (including Memphis median household income) will be released in September of 2023. Median family and per capita income for Memphis are shown below.
Note: 2020 data is interpolated as the ACS release for the year was incomplete due to data gathering issues related to the pandemic.
Real Median Household Income for Memphis Tennessee
| 2021 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | $69,717 | -1.64% | +4.32% |
| Tennessee | $59,695 | -1.47% | +5.63% |
| Memphis | $55,840 | -3.61% | +2.81% |
Trends in Memphis, TN Real Median Household Income since 2005
The current median household income for Memphis is $55,840. Real median household income peaked in 2007 at $59,896 and is now $4,056 (6.77%) lower. From a post peak low of $52,518 in 2014, real median household income for Memphis has now grown by $3,322 (6.33%).
Real Median Household Income: Memphis, Tennessee, National
Historical Inflation Adjusted Median Household Income for Memphis
| Date | US | Tennessee | Memphis |
|---|---|---|---|
| 2021 | $69,717 | $59,695 | $55,840 |
| 2020 | $70,877 | $60,586 | $57,934 |
| 2019 | $69,638 | $59,421 | $58,137 |
| 2018 | $66,828 | $56,511 | $54,313 |
| 2017 | $66,687 | $56,744 | $56,351 |
| 2016 | $65,052 | $54,811 | $56,236 |
| 2015 | $63,784 | $54,063 | $55,491 |
| 2014 | $61,468 | $50,819 | $52,518 |
| 2013 | $60,869 | $51,604 | $54,709 |
| 2012 | $60,732 | $50,556 | $54,012 |
| 2011 | $60,969 | $50,334 | $54,801 |
| 2009 | $63,573 | $52,818 | $55,234 |
| 2007 | $66,465 | $55,497 | $59,896 |
| 2005 | $64,310 | $54,063 | $57,110 |
Memphis Family Income
The ACS 1-year data shows the median family income for Memphis was $70,649 in 2021. Compared to the median Tennessee family income, Memphis median family income is $4,060 lower. As with the median household income data, 2022 family income data for Memphis will be released in September of 2023.
Real Median Family Income for Memphis Tennessee
| 2021 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | $85,806 | -1.68% | +4.09% |
| Tennessee | $74,709 | -1.35% | +5.46% |
| Memphis | $70,649 | -3.02% | +0.93% |
Trends in Memphis, TN Real Median Family Income since 2005
The current median family income for Memphis is $70,649. Real median family income peaked in 2007 at $73,844 and is now $3,195 (4.33%) lower. From a post peak low of $65,155 in 2012, real median family income for Memphis has now grown by $5,494 (8.43%).
Real Median Family Income: Memphis, Tennessee, National
Historical Inflation Adjusted Median Family Income for Memphis
| Date | US | Tennessee | Memphis |
|---|---|---|---|
| 2021 | $85,806 | $74,709 | $70,649 |
| 2020 | $87,269 | $75,730 | $72,846 |
| 2019 | $85,780 | $74,175 | $72,638 |
| 2018 | $82,434 | $70,841 | $69,996 |
| 2017 | $81,669 | $69,550 | $69,655 |
| 2016 | $80,231 | $68,486 | $69,214 |
| 2015 | $78,061 | $66,134 | $68,834 |
| 2014 | $75,505 | $63,645 | $65,646 |
| 2013 | $74,593 | $63,713 | $67,096 |
| 2012 | $73,920 | $63,062 | $65,155 |
| 2011 | $74,192 | $63,107 | $65,840 |
| 2009 | $77,322 | $64,995 | $67,490 |
| 2007 | $80,131 | $68,044 | $73,844 |
| 2005 | $77,647 | $66,686 | $69,851 |
Memphis Per Capita Income
The ACS 1-year survey shows the per capita income for Memphis was $32,778 in 2021. Compared to the median Tennessee per capita income, Memphis median per capita income is $1,126 lower. As with the median household and median family income numbers above, 2022 per capita income data for Memphis will be released in September of 2023.
Real Per Capita Income for Memphis Tennessee
| 2021 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | $38,332 | -1.03% | +5.01% |
| Tennessee | $33,904 | -0.53% | +7.30% |
| Memphis | $32,778 | -1.32% | +8.44% |
Trends in Memphis, TN Real Per Capita Income since 2005
The current per capita income for Memphis is $32,778. Real per capita income peaked in 2020 at $33,216 and is now $438 (1.32%) lower.
Real Per Capita Income: Memphis, Tennessee, National
Historical Real Per Capita Income for Memphis
| Date | US | Tennessee | Memphis |
|---|---|---|---|
| 2021 | $38,332 | $33,904 | $32,778 |
| 2020 | $38,730 | $34,085 | $33,216 |
| 2019 | $37,803 | $33,090 | $32,524 |
| 2018 | $36,503 | $31,596 | $30,228 |
| 2017 | $35,807 | $31,792 | $31,333 |
| 2016 | $35,145 | $30,582 | $30,496 |
| 2015 | $34,284 | $29,980 | $30,118 |
| 2014 | $33,094 | $28,550 | $28,453 |
| 2013 | $32,833 | $28,749 | $29,232 |
| 2012 | $32,297 | $28,009 | $28,225 |
| 2011 | $32,243 | $28,153 | $28,852 |
| 2009 | $33,430 | $28,735 | $28,602 |
| 2007 | $34,959 | $30,676 | $31,773 |
| 2005 | $34,817 | $30,721 | $32,062 |
