Income & Economy in Memphis city, TN (38118)
Median Income
$42,464
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+1,389
Wealth inflow
Population
39,162
Unemployment
11.0%
7.3pp above US avg
IRS migration statistics show a net inflow of about 1,389 for ZIP 38118 (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 38118 (2020–Present)
Since 2020, population declined 2.5%, median income fell 1.9% (inflation-adjusted), home values increased 8.7%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $42,464 |
| Unemployment | 11.0% |
| Establishments | 1,387 |
| Employees | 64,496 |