Memphis, TN — income, home value, property tax, and sales tax.
In ZIP code 38107, on Memphis's north side, households bring in a median of $35,265 a year, while per-capita income sits at $28,065 — figures that place the area among the city's working-class communities. Homes here carry a median value of $152,000, and the county-level property tax rate of 0.97% applies to that value. Shoppers, meanwhile, pay a combined 9.75% sales tax on purchases. The gap between earnings and the cost of goods means sales taxes take a noticeable bite out of daily spending, even as property taxes on these home values stay comparatively contained.
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