Income

Household Income (HHI)

Median HHI - $69,485

With a Median Household Income of $69,485 the Memphis, TN-AR-MS Market ranks 133rd across STI Markets.

Average HHI - $97,981

The Average Household Income is $97,981 for which this market ranks 104th.

Income Distribution

Figure 37: Income Distribution

Income Distribtuion Line

Below the multi-colored line represents the same data for household income in the Memphis, TN-AR-MS market, but more equally lays out the distribution of population versus the income level, correcting for differences in size of income ranges. You will also notice that after 200k the income ranges are scaled down so the focus is more centered on the more numerous Households making under 200k. The black line represents the National Income Distribution for comparison.

Figure 38: Income Distribution Line

Income Inequality - High

The distribution of Household Income in the Memphis, TN-AR-MS market can be considered High with a Gini coefficient of 0.468. This market ranks 6th in Household Income Inequality across all STI Markets.

Average Household Income by Census Tract

The interquartile range of Average Household Income across the market’s Census Tracts, that is its 25th percentile and 75th percentile values, are $59,424 and $106,183, respectively.

Figure 39: Household Income Thematic

HH Income by Age of Head of Householder

Distribtion Comaprison

Figure 40: Income Distribution Line

HHI Age under 25 - $59,334

With an Average Household Income for those head of householders aged under 25 of $59,334 the Memphis, TN-AR-MS market ranks 102nd across STI Markets.

Figure 41: HHI 00to25 Thematic

HHI Age 25 to 45 - $98,683

With an Average Household Income for those head of householders aged 25 to 45 of $98,683 the Memphis, TN-AR-MS market ranks 131st across STI Markets.

Figure 42: HHI 25to45 Thematic

HHI Age 45 to 65 - $111,364

With an Average Household Income for those head of householders aged 45 to 65 of $111,364 the Memphis, TN-AR-MS market ranks 106th across STI Markets.

Figure 43: HHI 45to65 Thematic

HHI Age 65 plus - $82,671

With an Average Household Income for those head of householders aged 65 and over of $82,671 the Memphis, TN-AR-MS market ranks 89th across STI Markets.

Figure 44: HHI 65over Thematic

HH Income by Age of Head of Householder

Distribtion Comaprison

Figure 45: Income Distribution Line

HHI White - $114,851

With an Average Household Income for those head of householders Non-Hispanic White of $114,851 the Memphis, TN-AR-MS market ranks 62nd across STI Markets.

Figure 46: HHI white Thematic

HHI Black - $77,958

With an Average Household Income for those head of householders identifying as Non-Hispanic Black of $77,958 the Memphis, TN-AR-MS market ranks 81st across STI Markets.

Figure 47: HHI black Thematic

HHI Asian - $142,258

With an Average Household Income for those head of householders identifying as Non-Hispanic Asian of $142,258 the Memphis, TN-AR-MS market ranks 32nd across STI Markets.

Figure 48: HHI asian Thematic

HHI Other - $94,114

With an Average Household Income for those head of householders identifying as Non-Hispanic Other of $94,114 the Memphis, TN-AR-MS market ranks 88th across STI Markets.

Figure 49: HHI other Thematic

HHI Hispanic - $90,380

With an Average Household Income for those head of householders identifying as Hispanic of $90,380 the Memphis, TN-AR-MS market ranks 96th across STI Markets.

Figure 50: HHI hispanic Thematic

Disposible Income - $78,178

Disposable income is defined here as Household Income after accounting for Federal, State, and Local taxes. The Average Household Disposable Income is $78,178 which ranks 98th across STI Markets.

This is a drop of $19,803, or 20.21%, overall this percentage drop ranks 124th across STI Markets.

Figure 51: Disposible Income VS HH Income

Purple = 15% decrease, Blue = 25% decrease, Green = 35% decrease, Orange = 45% decrease, Red = 55% decrease

Discretionary Income - $58,122

Discretionary income goes a step further. It takes Disposable Income, which already accounts for taxes, and accounts for the typical cost of Food, Housing, and Clothing. The Average Household Discretionary Income is $58,122 which ranks 111th across STI Markets.

This is a drop of $39,859, or 40.68%, overall this percentage drop ranks 81st across STI Markets.

Figure 52: Discretionary Income VS HH Income

Purple = 15% decrease, Blue = 25% decrease, Green = 35% decrease, Orange = 45% decrease, Red = 55% decrease

Labor

Housing