The city of Memphis itself owes over $750,000,000 in debt, leaving each taxpayer a burden of over $3,700 if the residents were made to repay that debt. A large portion of this debt comes from unfunded retirement pensions and healthcare benefits. There is a 6-year statute of limitations on debt collection in Memphis.
Does Memphis have money?
Nashville was ranked almost dead last. The report gives Memphis’ financial grade is a C. It says says Memphis has $1.7 billion dollars to pay $2.5 billion worth of bills. That means there is a more than $743 million dollar shortfall.
Is Memphis a good city to move to?
Memphis has a fairly low cost of living for a large metro area. Rent prices and mortgage expenses are considerably lower than the national average. Expenses for food and services are also significantly lower than in other major regions, especially in the more rural areas that spread out beyond the metro region.
Is Memphis its own state?
Memphis is a city in the U.S. state of Tennessee. It is the seat of Shelby County in the southwest part of the state and is situated along the Mississippi River. With a population of 633,104 at the 2020 U.S. census, Memphis is the second-most populous city in Tennessee, after Nashville.
Is Memphis a wealthy city?
Germantown, which has long been the Memphis metro’s most affluent suburb, has a national rank of No. 607 nationally in affluence, while cities in Nashville, such as Belle Meade (No. 25); Forest Hills (No.
Wealthiest ZIP Codes.
| Rank | ZIP Code | City |
|---|---|---|
| 1 | 38139 | Germantown |
| 2 | 38138 | Germantown |
| 3 | 38120 | Memphis |
| View This List |
Is Memphis a rich city?
– Memphis ranked at No. 47 out of 50 U.S. cities that has the lowest income to be considered “rich” this year, according to a study by GOBankingRates.com using data from the U.S. Census. The lowest income to be considered “rich” — defined in the study as in the top 20 percent — in Memphis is $86,964.
Is Memphis a poor city?
Poverty Rankings
In 2020, Memphis placed again in the top spot in both overall poverty and child poverty among large Metropolitan Statistical Areas (MSAs) with populations greater than 1,000,000.
What is a good salary in Memphis?
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.
Is Memphis safe to live?
Historic neighborhoods, tons of restaurants, a thriving art scene, and many other cultural amenities make Memphis an attractive place to live. A nationwide study of violent crime and property crime by the safety and security site SafeWise rates Memphis as the second most dangerous big city in the country.
Is Memphis a black city?
In Memphis, there are 17 neighborhoods — as defined by census tracts — that are at least 98% Black, and there are five that are at least 90% white, according to 2015-2019 data from the U.S. Census Bureau American Community Survey.
What percent of Memphis is black?
64 percent
Black people in Memphis are 64 percent of the population. Whites make up 29 percent of the local population.
How white is Memphis TN?
Table
| Population | |
|---|---|
| White alone, not Hispanic or Latino, percent | 24.9% |
| Population Characteristics | |
| Veterans, 2016-2020 | 29,644 |
| Foreign born persons, percent, 2016-2020 | 6.0% |
Are there any billionaires in Memphis?
Tennessee’s second-highest-ranking billionaire is Memphis’ own Fred Smith, the founder and CEO of FedEx.
Where do millionaires live in Memphis?
Germantown is well-known as the Memphis metro’s most affluent area, and the homes there reflect that wealth.
What is poorest county in TN?
The poverty rate is more than 11% higher in Grundy than the rest of the state. Compared to all of Tennessee, about 15% less adults hold a bachelor’s degree in Grundy.
What is the richest place in Tennessee?
1. Nolensville. Much smaller than Brentwood, Nolensville is a suburb of Nashville and the richest town in Tennessee and is home to some of the wealthiest residents of the state.
Who is the richest family in Tennessee?
Richest billionaires in Tennessee
- #7. Bill Haslam.
- #6. Brad Kelley.
- #5. Jon Yarbrough.
- #4. Jimmy Haslam.
- #3. Martha Ingram & family.
- #2. Fred Smith.
- #1. Thomas Frist Jr & family. – Net worth: $18.2 billion (#91 wealthiest in the world)
- You may also like: Highest earning zip codes in Knoxville metro area.
How many billionaires are in TN?
Billionaires are ranked by net worth as of April 30. Forbes lists 10 billionaires in Tennessee.
Is Memphis growing or shrinking?
Since 1970, Memphis’ population has effectively stagnated, with the population rising from 623,988 to 652,717. Nashville’s population went in that period from 448,003 to 684,410. Since 2010, metro Nashville grew by 232,000, or nearly 14 percent; metro Memphis grew by 23,000, or less than two percent.
Why is Memphis the Bluff city?
Memphis got its nickname because of the city’s physical location, according to former Shelby County Historian Jimmy Ogle. There are several bluffs along the Mississippi River near Memphis. Located 60 miles away from downtown Memphis is the High Bluff in Fort Pillow, Tennessee.
What are the largest problems in Memphis?
The city has long struggled with poverty, vacant homes, and abandoned buildings, along with high crime and dwindling public-sector capacity. Racial disparities and socioeconomic inequalities in Memphis are persistent and continue to be a struggle.