Memphis, TN median household income diversity
Based on our analysis of the distribution of Memphis population by race & ethnicity, the population is predominantly Black or African American. This particular racial category constitutes the majority, accounting for 64.57% of the total residents in Memphis. Notably, the median household income for Black or African American households is $41,974.
Interestingly, despite the Black or African American population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $92,253. This reveals that, while Black or African Americans may be the most numerous in Memphis, Asian households experience greater economic prosperity in terms of median household income.
For a better visual representation of these income disparities, take a look at the bar chart below. It illustrates the varying median household incomes across races, providing a clear comparison for each of the racial categories defined by the U.S. Census Bureau.
In Memphis, a diversity of median household incomes is evident among households of different races. The Asian households boast the highest median household income at about $92,253. White households have a median income of approximately $76,623. Some Other Race households have a median income of approximately $59,226. Two or More Races households have a median income of approximately $50,466. Conversely, Black or African American households reveal the lowest median income at $41,974. These disparities underscore the varied income distribution within the city of Memphis.
Memphis, TN median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Memphis, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of Memphis.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Memphis, the median household income for the households where the householder is White increased by $11,396(17.47%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $65,227 in 2012 and $76,623 in 2022.
- Black or African American: In Memphis, the median household income for the households where the householder is Black or African American increased by $6,350(17.83%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $35,624 in 2012 and $41,974 in 2022.
- American Indian and Alaska Native: In Memphis, the median household income for American Indian and Alaska Native households was $37,772 in 2012(2022 inflation-adjusted dollars). However there is no reported data for 2022, indicating a lack of information for this specific year.
- Asian: In Memphis, the median household income for the households where the householder is Asian increased by $27,573(42.63%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $64,680 in 2012 and $92,253 in 2022.
- Native Hawaiian and Other Pacific Islander: In Memphis, the median household income for Native Hawaiian and Other Pacific Islander households was $14,077 in 2012(2022 inflation-adjusted dollars). However there is no reported data for 2022, indicating a lack of information for this specific year.
- Some other race: In Memphis, the median household income for the households where the householder is Some other race increased by $25,605(76.16%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $33,621 in 2012 and $59,226 in 2022.
- Two or more races (multiracial): In Memphis, the median household income for the households where the householder is multiracial increased by $16,089(46.80%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $34,377 in 2012 and $50,466 in 2022.
- Above analysis reconfirms that there are 5 race households in Memphis. Households are categorized based on the self-identified race of the head of household.
Memphis median household income by race betwen 2012 and 2022
Explore the evolution of median household incomes over the past decade across various racial categories identified by the U.S. Census Bureau. This table showcases the annual income trends, from 2012 to 2022, providing insights into the economic shifts within diverse racial communities.
| Race Of The Head Of Household | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| White | $69,572 | $65,818 | $65,227 | $69,280 | $64,606 | $69,704 | $66,381 | $69,148 | $66,578 | $73,605 | N/A | $70,128 | $76,623 |
| Black or African American | $42,083 | $36,734 | $35,624 | $36,534 | $34,318 | $37,741 | $38,515 | $37,974 | $35,847 | $40,955 | N/A | $40,742 | $41,974 |
| American Indian and Alaska Native | N/A | N/A | $37,772 | N/A | $90,775 | N/A | $68,322 | $81,984 | N/A | $136,247 | N/A | N/A | N/A |
| Asian | $74,783 | $78,628 | $64,680 | $70,582 | $47,289 | $93,875 | $83,403 | $62,291 | $69,420 | $83,698 | N/A | $79,754 | $92,253 |
| Native Hawaiian and Other Pacific Islander | N/A | N/A | $14,077 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Some Other Race | $39,712 | $38,481 | $33,621 | $34,795 | $34,912 | $31,021 | $44,461 | $37,370 | $35,376 | $39,615 | N/A | $44,560 | $59,226 |
| Two or More Races | $45,283 | $40,836 | $34,377 | $33,477 | $43,738 | $65,382 | $44,476 | $56,714 | $66,354 | $54,843 | N/A | $44,790 | $50,466 |
Key observations: Households with Asian householders witnessed significant growth in median household income, marking an impressive increase of $27,573. On the other hand, households where householder is American Indian and Alaska Native experienced a notable decline, with a decrease of $37,772 in median income.