Memphis is well known for its cultural contributions to the identity of the American south and BBQ cuisine. One of the largest celebrations the city has is Memphis in May, which promotes the city’s heritage and is comprised of four smaller events including the Beale Street Music Festival; International Week; the World Championship Barbecue Cooking Contest; and the Sunset Symphony. The World Championship Barbecue Cooking Contest is the largest pork barbecue cooking contest in the world. Memphis is home to FedEx, AutoZone and International Paper. Sites of interest for tourists and residents include Graceland, the former home of Elvis Presley, Pink Palace Museum, National Civil Rights Museum, Mud Island River Park and a number of notable parks and cemeteries, including Shelby Farms, one of the largest urban parks in the United States.
These are some of the well-known reasons to move to Memphis? But what about other reasons to live in the City of the Blues? Here are some surprising stats that will have you running to live in Memphis!
Income Tax is 0%
Yes you read that right, State taxes are non-existant! Although sales taxes may be higher than average, this is supported by the lack of State taxes pulled from your pocket.
Cost of Living is 6% Below National Average
Get more bang for your buck when living in Memphis. Homes, shopping, restaurants and more are easier on the pocket in the heart of Tennessee.
Job Growth is Up 1.8%
The city is constantly attracting new corporations looking to take advantage of that low costs of living in the area. The growth of online shopping has also continued to push FedEx into continual growth. Memphis is one of the biggest hubs for FedEx in the country.
Home Prices Are on The Rise
The cost of homes are seeing a rise with the growth of the overall economy and especially within the city. City loft living has become a popular market for millennials who are arriving to the city to fill the new jobs.
Average Commute is Only 24 Minutes
Compared to other major cities throughout the country, Memphis is fairly easy to navigate and reach destinations without the despised traffic jams. It could be worse, Northern Virginia has an average commute time of over 1 hour!
Visit Other Cities with Ease
Memphis is conveniently located within 5 hours of other major cities such as Little Rock, Nashville, Birmingham, St. Louis and more. This is another plus for businesses that have multiple locations throughout the South.
These are just a few reasons why families and millennials are returning or venturing to the city of Memphis. Learn more about how a custom home can bring more bang for your buck in the area here!