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This question is about Memphis, TN.
What is a good salary in Memphis, TN?
A good salary in Memphis, TN is anything over $39,000. That's because the median income in Memphis is $39,000, which means if you earn more than that you're earning more than 50% of the people living in Memphis. The average salary in Memphis is $47,593.
A good hourly wage in Memphis is $18.75 per hour. That works out to a good weekly wage of $750 per week and a good monthly wage of $3,250 per month. However, using the median income is only one way to calculate a good salary in Memphis.
Another way to calculate a good salary in Memphis is to look at the price of housing and use that to back into a good salary. Experts agree that you want to maintain about a 5 to 1 home price to income ratio. Based on the median home price of $101,800, a good salary in Memphis would be $20,360.
Lastly, we can determine a good salary in Memphis by looking at the cost of living and comparing it to the US average salary. The cost of living in Memphis is 18% lower than than the national average. The national average salary is $56,310, so a good salary in Memphis is anything over $45,611 by this measure.
Average Annual Salary in Memphis, TN
| Percentile | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| 10th | $18,000 | $1,500 | $346 | $8.65 |
| 25th | $26,000 | $2,166 | $500 | $12.5 |
| Median | $39,000 | $3,250 | $750 | $18.75 |
| 75th | $59,000 | $4,916 | $1,134 | $28.37 |
| 90th | $86,000 | $7,166 | $1,653 | $41.35 |
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