Living in Memphis, Florida
Cost of living, income, home prices, rent and demographics of Memphis · Census data 2020–2024
Memphis has 9,185 residents with a median age of 36.7. The median household income is $74,839 (about the same as the Florida median), the median home value is $313,800, the median rent is $1,173/month.
Memphis at a glance
- Population
- 9,185
- Median age
- 36.7State: 42.6
- Median household income
- $74,839State: $74,568
- Median home value
- $313,800State: $359,000
- Median rent
- $1,173/moState: $1,669
- Homeowners
- 81.2%
- Bachelor's degree or higher
- 22.5%
- Average commute
- 27 min
Is Memphis a good place to live?
Pros: Median household income about the same as the Florida median; home values 13% lower than the state median; an average commute of 27 minutes.
Cons: Unemployment of 8.1%; a poverty rate of 14.2%.
The weather is best in February–March and November–December.
Cost of living in Memphis
Housing is the biggest part of the cost of living. In Memphis the median home value is $313,800, 6% lower than the U.S. median. Renters pay a median of $1,173 per month, which is 42.5% of household income. Homeowners with a mortgage pay $1,597 a month in housing costs.
Memphis median household income
The median household income in Memphis is $74,839 and the income per person is $35,148. 14.2% of residents live below the poverty line (Florida: 12.6%).
Housing in Memphis: homes for sale and rent
- Housing units
- 4,158
- Owner-occupied
- 81.2%
- Renter-occupied
- 18.8%
- Vacant
- 23.3%Includes seasonal homes
- Median year built
- 1987
- Average household size
- 2.88
Memphis demographics
- Population
- 9,185
- Median age
- 36.7
- Under 18
- 23.8%
- 65 and older
- 16.9%
- Households
- 3,190
- Foreign-born
- 16%
- Veterans
- 11.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Memphis ›
Education in Memphis
22.5% of adults 25 and older in Memphis have a bachelor's degree or higher (Florida: 34.1%), and 7.4% have a graduate or professional degree.
Jobs and commute in Memphis
- Unemployment rate
- 8.1%State: 4.8%
- Average commute
- 27 minState: 28 min
- Work from home
- 6.4%
- Drive alone
- 79.3%
- Public transit
- 0%
- Walk to work
- 1.2%
- Homes with broadband
- 86.9%
Memphis vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Memphis | 9,185 | $74,839 | $313,800 | $1,173 |
| Palmetto | 13,588 | $62,621 | $313,400 | $1,366 |
| Ellenton | 5,133 | $71,402 | $281,400 | $1,729 |
| Bradenton | 57,014 | $60,822 | $309,400 | $1,618 |
| West Bradenton | 3,991 | $116,272 | $425,100 | $1,858 |
| Samoset | 5,284 | $51,976 | $196,800 | $1,386 |
| West Samoset | 7,429 | $54,352 | $212,800 | $1,407 |
| South Bradenton | 25,990 | $48,315 | $167,200 | $1,244 |
| Bayshore Gardens | 18,131 | $44,958 | $181,400 | $1,506 |
More for people moving to Memphis
Memphis ZIP code ›Weather and climate ›Living in Memphis: FAQ
What is the median household income in Memphis, FL?
The median household income in Memphis is $74,839, about the same as the Florida median of $74,568 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Memphis?
The median home value in Memphis is $313,800, compared with $359,000 in Florida.
How much is rent in Memphis?
The median gross rent in Memphis is $1,173 per month, about 42.5% of household income.
Is Memphis, FL a good place to live?
Pluses: median household income about the same as the Florida median; home values 13% lower than the state median; an average commute of 27 minutes. Minuses: unemployment of 8.1%; a poverty rate of 14.2%.
What is the median age in Memphis?
The median age in Memphis is 36.7 years (Florida: 42.6).
How long is the commute in Memphis?
The average commute to work in Memphis is 27 minutes; 6.4% of workers work from home.
What is the unemployment rate in Memphis?
The unemployment rate in Memphis is 8.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Memphis?
22.5% of adults in Memphis have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
Last updated: