Income & Economy in Memphis city, TN (38114)
Median Income
$32,080
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+725
Wealth inflow
Population
20,440
Unemployment
16.7%
13.0pp above US avg
IRS migration statistics show a net inflow of about 725 for ZIP 38114 (Memphis city, TN) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.
Historical Trends in 38114 (2020–Present)
Since 2020, population declined 14.6%, median income rose 12.3% (inflation-adjusted), home values increased 8.1%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $32,080 |
| Unemployment | 16.7% |
| Establishments | 279 |
| Employees | 3,280 |