Income & Economy in Memphis city, TN (38120)
Median Income
$119,309
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+470
Wealth inflow
Population
13,249
Unemployment
1.6%
2.1pp below US avg
IRS migration statistics show a net inflow of about 470 for ZIP 38120 (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 38120 (2020–Present)
Since 2020, population declined 14.4%, median income fell 5.5% (inflation-adjusted), home values increased 3.3%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $119,309 |
| Unemployment | 1.6% |
| Establishments | 604 |
| Employees | 16,399 |