Memphis is a city in Tennessee state in USA with a population of 650910 residents.. The poverty rate of Memphis is 24.6%, which is 76% higher than national average. The typical household in Memphis earns $41864 a year, compared to the national median of $67,500. Financial hardship is relatively common in the city as 1 in every 4 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 9 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 57.6% of households earn less than $50,000 a year compared to 39% national rate.

A high school education is a basic prerequisite for most jobs, and in Memphis, only 86% of adults have a high school diploma, compared to the 87.7% of adults nationwide. The unemployment rate of Memphis remained 8.6%, which is 83% higher than national rate. Nearly 2 times comparable to 4.7% national rate, according to the Census. Higher educational attainment can lead to improved job security and reduce the likelihood of financial insecurity. In Memphis, only 26% of adults have a bachelor's degree and 30% have some college but no degree.

Cost of living in Memphis is 79, which is 21% lower than national average. Median home value in Memphis is $107100 , which is 53% lower than national average. While median income in Memphis remained $41864, which is 38% lower than national average.