11 / 100

Shelby County, TN

RANK #885 / 996  ·  POP 926,440  ·  TN

PROJECTED GROWTH: -1.4%

Shelby County ranks in the bottom tier of U.S. counties on economic momentum.

[01] Why Shelby County?

Shelby County, Tennessee, is perhaps best known as the home of Memphis, a city celebrated for its deep musical heritage and its position along the Mississippi River. The county, the largest in Tennessee by both land area and population, sits in the state's southwestern corner, bordering Arkansas and Mississippi. Commutes vary, with options including personal vehicles, public transportation via the Memphis Area Transit Authority (MATA) bus and trolley lines, and rideshare programs. Beyond the urban landscape, outdoor recreation is available at expansive green spaces like Shelby Farms Park, one of the nation's largest urban parks, and Meeman-Shelby Forest State Park, which offers hiking, fishing, and wildlife viewing.

Life in Shelby County offers a mix of urban and suburban experiences, with notable towns such as Germantown, Collierville, and Bartlett providing distinct community feels. Public education is served by Memphis-Shelby County Schools, the largest district in Tennessee, alongside several independent municipal school districts. The economy, historically rooted in agriculture, particularly cotton, has diversified. It now leverages its strategic location as a logistics hub, supported by its airport, rail, road, and river infrastructure. Recent economic developments show investment in advanced manufacturing and technology sectors, contributing to job growth and economic expansion.

[02] Market Snapshot

Housing Ratio
2.8x

Undervalued relative to economy

GDP Growth
+0.2%

Well below national median

Home Prices
-1.7%

Prices declining

Climate & Terrain
-0.4

Below-average climate & terrain

Price/Rent
13x

Below national median (13x)

Housing looks undervalued at 2.8x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Shelby County U.S. National

The Numbers

DEMOGRAPHICS
Population
926,440
-0.29% YoY
Median Household Income
$59,621
Median Home Value
$206,100
-1.71% 12mo
Median Rent
$1,103
Average Annual Pay
$71,518
+1.9% YoY
Employment
482,470
-0.9% YoY
Income-to-Home-Value
0.2893
More affordable than average
Migration Inflow
0.98%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$250,000
Days on Market
58
Moderate pace
Months of Supply
5.0
Buyer's market
Sale-to-List Ratio
95.8%
Negotiation room for buyers
Sold Above List
12.2%
Listings w/ Price Drops
22.8%
Building Permits (2024)
2,061
Single-Family Permits
642

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$970M
TOTAL
PROJECT AMOUNT STATUS
xAI Data Center (Project Colossus)
xAI (Elon Musk)
$500M Under Construction
MLGW Solar and Battery Storage Project
Memphis Light, Gas, and Water (MLGW)
$180M Planned
WR Graceland Solar Farm
RWE Renewables
$140M Under Construction
Amazon Fulfillment Center (Frayser)
Amazon
$100M Operating
Shelby County East Data Center
Nickson General Contractors
$50M Under Construction

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +0.2% 9 percentile
Population Growth -0.3% 16 percentile
Income Growth +8.4% 46 percentile
Vacancy Rate 1.9% 11 percentile
Home Price Change -1.7% 16 percentile
Rent Growth +1.4% 25 percentile
Price/Rent 13x 59 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Shelby County, TN a good place to move to?

Shelby County has a Boom Town Index score of 11/100, ranking #885 among 996 U.S. counties. With job growth at -0.9% and a median household income of $59,621, it faces some economic headwinds compared to faster-growing counties.

Is Shelby County affordable?

The median home value in Shelby County is $206,100 with median rent at $1,103/month. The income-to-home-value ratio is 0.2893, which is more affordable than the national average.

Is Shelby County growing or shrinking?

Population growth: -0.3% year-over-year. Job growth: -0.9%. Home values changed -1.7% in the past 12 months.

[08] Similar Metros

Acadia Parish, LA 21 Kauai County, HI 21 Wilson County, TN 21 Pima County, AZ 21 Sacramento County, CA 21 Clackamas County, OR 21 King County, WA 21 Los Angeles County, CA 21