Living in Memphis, Missouri
Cost of living, income, home prices, rent and demographics of Memphis · Census data 2020–2024
Memphis has 1,782 residents with a median age of 37.8. The median household income is $55,125 (22% lower than the Missouri median), the median home value is $132,800, the median rent is $471/month.
Memphis at a glance
- Population
- 1,782
- Median age
- 37.8State: 39
- Median household income
- $55,125State: $70,702
- Median home value
- $132,800State: $230,300
- Median rent
- $471/moState: $1,033
- Homeowners
- 71.8%
- Bachelor's degree or higher
- 20.3%
- Average commute
- 16 min
Is Memphis a good place to live?
Pros: Home values 42% lower than the state median; an average commute of 16 minutes; unemployment of 0.6%; a poverty rate of 12.2%.
Cons: Median household income 22% lower than the Missouri median.
The weather is best in May–June and August–September.
Cost of living in Memphis
Housing is the biggest part of the cost of living. In Memphis the median home value is $132,800, 60% lower than the U.S. median. Renters pay a median of $471 per month, which is 18.6% of household income. Homeowners with a mortgage pay $1,083 a month in housing costs.
Memphis median household income
The median household income in Memphis is $55,125 and the income per person is $27,297. 12.2% of residents live below the poverty line (Missouri: 12.6%).
Housing in Memphis: homes for sale and rent
- Housing units
- 888
- Owner-occupied
- 71.8%
- Renter-occupied
- 28.2%
- Vacant
- 29.4%Includes seasonal homes
- Median year built
- 1969
- Average household size
- 2.74
Memphis demographics
- Population
- 1,782
- Median age
- 37.8
- Under 18
- 24%
- 65 and older
- 19.7%
- Households
- 627
- Foreign-born
- 0%
- Veterans
- 4.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Memphis ›
Education in Memphis
20.3% of adults 25 and older in Memphis have a bachelor's degree or higher (Missouri: 32.4%), and 9.5% have a graduate or professional degree.
Jobs and commute in Memphis
- Unemployment rate
- 0.6%State: 4%
- Average commute
- 16 minState: 24 min
- Work from home
- 9.9%
- Drive alone
- 80.8%
- Public transit
- 0%
- Walk to work
- 1.3%
- Homes with broadband
- 88.5%
Memphis vs nearby towns
More for people moving to Memphis
Memphis ZIP code ›Weather and climate ›Living in Memphis: FAQ
What is the median household income in Memphis, MO?
The median household income in Memphis is $55,125, 22% lower than the Missouri median of $70,702 (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 $132,800, compared with $230,300 in Missouri.
How much is rent in Memphis?
The median gross rent in Memphis is $471 per month, about 18.6% of household income.
Is Memphis, MO a good place to live?
Pluses: home values 42% lower than the state median; an average commute of 16 minutes; unemployment of 0.6%; a poverty rate of 12.2%. Minuses: median household income 22% lower than the Missouri median.
What is the median age in Memphis?
The median age in Memphis is 37.8 years (Missouri: 39).
How long is the commute in Memphis?
The average commute to work in Memphis is 16 minutes; 9.9% of workers work from home.
What is the unemployment rate in Memphis?
The unemployment rate in Memphis is 0.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Memphis?
20.3% 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: