The zip code of 38109 encompasses many neighborhoods of Memphis, Tennessee. Rent for a two-bedroom apartment in this area averages $850 per month, which is significantly lower than the national median cost of $1,430. Additionally, the grocery cost index in this area is 91 compared to the national average of 100.
38109 Memphis is home to many businesses, including The DeSoto Central Market, Crosstown Brewing Co., SweetBioDesigns Ceramic Studio and Café Eclectic. Residents of this zip code have access to a variety of services and shopping opportunities while still benefiting from the lower costs that Memphis offers when compared to other cities across the nation.
Memphis (zip 38109) has an unemployment rate of 8.0%. The US average is 6.0%.
Memphis (zip 38109) has seen the job market decrease by -5.9% over the last year. Future job growth over the next ten years is predicted to be 36.6%, which is higher than the US average of 33.5%.
Tax Rates for Memphis (zip 38109)
- The Sales Tax Rate for Memphis (zip 38109) is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Memphis (zip 38109) is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Memphis (zip 38109)
- The average income of a Memphis (zip 38109) resident is $18,940 a year. The US average is $37,638 a year.
- The Median household income of a Memphis (zip 38109) resident is $32,404 a year. The US average is $69,021 a year.