Income & Economy in Memphis city, TN (38116)
Median Income
$44,663
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+1,468
Wealth inflow
Population
41,393
Unemployment
11.4%
7.7pp above US avg
IRS migration statistics show a net inflow of about 1,468 for ZIP 38116 (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 38116 (2020–Present)
Since 2020, population declined 1.6%, median income fell 3.7% (inflation-adjusted), home values increased 12.4%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $44,663 |
| Unemployment | 11.4% |
| Establishments | 810 |
| Employees | 16,796 |