Living in Memphis, Michigan
Cost of living, income, home prices, rent and demographics of Memphis · Census data 2020–2024
Memphis has 1,064 residents with a median age of 45.7. The median household income is $57,222 (21% lower than the Michigan median), the median home value is $213,300, the median rent is $820/month.
Memphis is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Memphis at a glance
- Population
- 1,064
- Median age
- 45.7State: 40.2
- Median household income
- $57,222State: $72,875
- Median home value
- $213,300State: $231,600
- Median rent
- $820/moState: $1,129
- Homeowners
- 67.6%
- Bachelor's degree or higher
- 14.9%
- Average commute
- 38 min
Is Memphis a good place to live?
Pros: Home values 8% lower than the state median; unemployment of 4.3%.
Cons: Median household income 21% lower than the Michigan median; an average commute of 38 minutes; a poverty rate of 24.7%.
The weather is best in June to September.
Cost of living in Memphis
Housing is the biggest part of the cost of living. In Memphis the median home value is $213,300, 36% lower than the U.S. median. Renters pay a median of $820 per month, which is 31.8% of household income. Homeowners with a mortgage pay $1,619 a month in housing costs.
Memphis median household income
The median household income in Memphis is $57,222 and the income per person is $32,091. 24.7% of residents live below the poverty line (Michigan: 13.2%).
Housing in Memphis: homes for sale and rent
- Housing units
- 539
- Owner-occupied
- 67.6%
- Renter-occupied
- 32.4%
- Vacant
- 9.1%Includes seasonal homes
- Median year built
- 1956
- Average household size
- 2.17
Memphis demographics
- Population
- 1,064
- Median age
- 45.7
- Under 18
- 16.5%
- 65 and older
- 17%
- Households
- 490
- Foreign-born
- 2.1%
- Veterans
- 6.2%Adults 18+
Hispanic or Latino can be of any race. Population history of Memphis ›
Education in Memphis
14.9% of adults 25 and older in Memphis have a bachelor's degree or higher (Michigan: 32.4%), and 3.1% have a graduate or professional degree.
Jobs and commute in Memphis
- Unemployment rate
- 4.3%State: 5.7%
- Average commute
- 38 minState: 24 min
- Work from home
- 2.1%
- Drive alone
- 91.3%
- Public transit
- 0%
- Walk to work
- 1.9%
- Homes with broadband
- 87.6%
Memphis vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Memphis | 1,064 | $57,222 | $213,300 | $820 |
| Richmond | 5,855 | $64,719 | $237,700 | $864 |
| Emmett | 207 | $120,074 | $145,800 | $1,000 |
| Armada | 1,994 | $102,083 | $274,300 | $1,061 |
| Capac | 1,970 | $60,329 | $161,700 | $772 |
| New Haven | 6,475 | $66,125 | $209,000 | $1,268 |
| Ruby | 714 | $69,077 | $223,800 | $1,105 |
| Romeo | 3,578 | $74,323 | $266,200 | $981 |
| Almont | 2,838 | $83,537 | $246,500 | $988 |
More for people moving to Memphis
Memphis ZIP code ›Weather and climate ›Living in Memphis: FAQ
What is the median household income in Memphis, MI?
The median household income in Memphis is $57,222, 21% lower than the Michigan median of $72,875 (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 $213,300, compared with $231,600 in Michigan.
How much is rent in Memphis?
The median gross rent in Memphis is $820 per month, about 31.8% of household income.
Is Memphis, MI a good place to live?
Pluses: home values 8% lower than the state median; unemployment of 4.3%. Minuses: median household income 21% lower than the Michigan median; an average commute of 38 minutes; a poverty rate of 24.7%.
What is the median age in Memphis?
The median age in Memphis is 45.7 years (Michigan: 40.2).
How long is the commute in Memphis?
The average commute to work in Memphis is 38 minutes; 2.1% of workers work from home.
What is the unemployment rate in Memphis?
The unemployment rate in Memphis is 4.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Memphis?
14.9% 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: