Where do the rich live in Memphis? While Memphis is often recognized for its high crime rates and poverty, there are affluent Memphis neighborhoods and suburbs. Here are the richest neighborhoods in Memphis, as well as the richest Memphis suburbs.
Richest Neighborhoods in Memphis
1. Piperton, TN
Piperton is the richest neighborhood in Memphis with a mean income of $170,305 and a median home price of $649,255.
It is an affluent Memphis suburb, located 34 minutes from downtown Memphis.
Piperton is known for large homes set in a peaceful, rural setting. The majority of homes in Piperton are owner-occupied, with 90% of residents owning their homes.
Piperton has a population of 2,263, with 13.1% being children under 18 and 24.9% seniors.
| Median Home Price | $649,255 |
| Mean Income | $170,305 |
2. Germantown, TN
Germantown is the second richest neighborhood in Memphis with a mean income of $180,764 and a median home price of $473,438.
Germantown is a rich Memphis suburb, located just 27 minutes from downtown.
It is one of the wealthiest neighborhoods in Memphis, known for its upscale shopping and dining experiences, as well as its top-rated schools and beautiful parks.
Germantown has a population of 41,333, with 26.5% being children under 18 years old and 21.3% seniors.
| Median Home Price | $473,438 |
| Mean Income | $180,764 |
Check out the Richest Suburbs of Nashville
3. Collierville, TN
Collierville is one of the richest neighborhoods in Memphis with a mean income of $153,438 and a median home price of $520,659.
Located 29 minutes from Memphis, Collierville is known for its historic downtown area and high-end shopping and dining options.
Collierville has a population of 51,324, with 26.4% being children under 18 and 14.4% seniors.
Approximately 79.5% of homes in Collierville are owner-occupied.
| Median Home Price | $520,659 |
| Mean Income | $153,438 |
Check out the Best Suburbs of Nashville
4. Lakeland, TN
Lakeland is one of the richest Memphis neighborhoods with a mean income here is $126,602 and a median home price of $506,705.
It is an affluent Memphis suburb, located 32 minutes from Memphis. It is known for its family-friendly community and excellent schools.
Lakeland has a population of 13,904. Lots of families live in Lakeland with 29.5% of residents being children under 18 years old while only 15.5% of the residents are seniors.
A majority of homes in Lakeland, 83.9%, are owner-occupied.
| Median Home Price | $506,705 |
| Mean Income | $126,602 |
Check out the Richest Suburbs of Knoxville
5. Rossville, TN
Rossville is a wealthy Memphis suburb with a mean income of $121,712 and a median home price of $548,824.
Rossville is located 41 minutes from Memphis, known for having a charming downtown and a tight-knit community.
It is a small affluent Memphis neighborhood with a population of only 1,041 with 16% being children under 18 years old and 18.2% senior citizens.
A high percentage of homes in Rossville, 86.6%, are owner-occupied.
| Median Home Price | $548,824 |
| Mean Income | $121,712 |
6. Arlington, TN
Arlington is another affluent Memphis suburb with a mean income of $114,900 and a median home price of $429,400.
Located 34 minutes from Memphis, Arlington is a family-friendly neighborhood with excellent schools and a low crime rate.
Arlington has a population of 14,549. A large percentage of Arlington’s population are families with 32.8% being children under 18 years old while only 7.6% senior citizens.
Most residents own their homes whereas 84.3% of Arlington homes are owner-occupied.
| Median Home Price | $429,400 |
| Mean Income | $114,900 |
Richest Memphis Suburbs: Methodology
In order to come up with our list of the richest neighborhoods in Memphis, the rankings are based on both income and home prices. We took data from the US Census American Community Survey and residential housing market data.
Note: We are loosely using the term “neighborhood” since some of these places are actually suburbs of Memphis.
Check out the Richest Cities in Tennessee and the Richest Nashville Suburbs