ZIP Code 38053

In ZIP code 38053, near Memphis, homes carry a median value of $221,900, and the county's 0.97% effective property tax rate works out to roughly $2,150 a year. With median household income at $58,194, that levy equals about 3.7% of annual earnings before any exemptions. Per-capita income sits lower, at $31,848, so single earners may feel the pinch more sharply. Add a combined sales tax of 9.75% on purchases, and the overall cost of living leans on paychecks from several angles.