Salary & Cost of Living in Memphis, TN
Memphis, TN: $52,000 median salary, cost of living index 86, $7.25/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$52,000
$25/hr
Cost of Living
86
US avg = 100
Minimum Wage
$7.25
per hour
Unemployment
4.2%
rate
Memphis, TN Overview
Population
633,104
Median Salary
$52,000
Average Salary
$58,000
Avg Commute
24 min
Median Home Price
$170,000
Median Rent
$1,000/mo
Job Growth
+1%
Sales Tax
9.75%
Memphis is located in Tennessee with a population of 633,104. The median household salary is $52,000 per year ($25/hour), which is $7,384 below the national median of $59,384. The average commute time is 24 minutes, and the city has a job growth rate of +1%.
Memphis Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Memphis, TN, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$43,821
$3,651.71/month · $1,685.40/biweekly · Effective Rate: 15.7%
Gross Pay
$52,000
Federal Tax
-$4,202
State Tax
$0
Local Tax
$0
FICA
-$3,978
Net Pay
$43,821
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $4,333.33 | $52,000.00 |
| Federal Income Tax | -$350.13 | -$4,201.50 |
| Tennessee State Tax (0%) | $0.00 | $0.00 |
| Social Security (6.2%) | -$268.67 | -$3,224.00 |
| Medicare (1.45%) | -$62.83 | -$754.00 |
| Net Take-Home Pay | $3,651.71 | $43,820.50 |
Salary Comparison: Memphis vs Other Cities
See how Memphis's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Memphis, TN | $52,000 | 86 | $60,465 |
| National Average | $59,384 | 100 | $59,384 |
| Auburn, AL | $52,000 | 90 | $57,778 |
| Bakersfield, CA | $52,000 | 96 | $54,167 |
| Fontana, CA | $52,000 | 102 | $50,980 |
| Oxnard, CA | $52,000 | 118 | $44,068 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Memphis
Memphis's cost of living index is 86 (national average = 100). Living in Memphis is 14% less expensive than the national average.
Median Home Price
$170,000
Median Monthly Rent
$1,000
Annual Rent Cost
$12,000
Your Salary's Purchasing Power
Your $43,821 annual take-home pay in Memphis has the purchasing power of approximately $50,954 in an average-cost US area. Your $52,000 salary stretches further here than in most US cities.
Top Industries in Memphis
Memphis's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $52,000.
Salary Tips for Memphis Workers
- Your salary goes further here. Memphis has a cost of living 14% below the national average. A salary of $52,000 here has the purchasing power of about $60,465 in an average-cost area.
- No state income tax advantage. Tennessee has no state income tax, which means more of your paycheck stays in your pocket. Invest the savings in a Roth IRA or 401(k) for long-term growth.
- Research top industries. Memphis's top industries include Logistics, Healthcare, Manufacturing. Targeting roles in these sectors can help you earn above the $52,000 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
Compare salary data and cost of living for hundreds of US cities. Find out where your paycheck goes the furthest.
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Frequently Asked Questions
What is the median salary in Memphis, TN?
The median salary in Memphis, TN is $52,000 per year, or $25 per hour. The average salary is $58,000. This is $7,384 below the national median of $59,384.
What is the cost of living in Memphis, TN?
Memphis's cost of living index is 86 (national average = 100), meaning it is 14% less expensive compared to the national average. The median home price is $170,000 and the median monthly rent is $1,000.
What are the best industries in Memphis?
The top industries in Memphis, TN include Logistics, Healthcare, Manufacturing. The city has a job growth rate of 1% and an unemployment rate of 4.2%. Workers in these industries often earn above the city's median salary of $52,000.
How does Memphis's salary compare to other cities?
Memphis's median salary of $52,000 is 12.4% below the national median of $59,384. However, when adjusted for cost of living (index: 86), the real purchasing power is approximately $60,465.
What is the minimum wage in Memphis, TN?
The minimum wage in Memphis, TN is $7.25 per hour. This equals approximately $15,080 per year for a full-time worker (40 hours/week). This matches the federal minimum wage of $7.25/hour.