Shelby County, Tennessee: commercial real estate data.
Shelby County, Tennessee had an estimated 910,530 residents on July 1, 2024, down 2.1 percent since the 2020 census base of 930,015, across 763 square miles. County output reached $88.40 bn in 2024, 19,359 establishments operate here, and the SBA record carries 584 7(a) approvals worth $359.8 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Shelby County
How many people live in Shelby County
- Population, American Community Survey 2020-2024919,173
- Households362,741
- Average household size2.53
- Median household income$63,767
- Median age35.9
- Median gross rent$1,232 per month
- Median owner-occupied home value$249,100
- Home value to household income3.9 times
- Annual rent as a share of median income23.2 percent
- Adults 25 and over with a bachelor degree or higher34.3 percent
- Adults 25 and over with a graduate degree14.0 percent
- Adults 25 and over605,447
- Population under 18233,802
- Share under 1825.4 percent
- Population 65 and over136,050
- Share 65 and over14.8 percent
- Working age population, 18 to 64549,321
- Civilian labor force459,371
- Unemployment rate7.2 percent
- Labor force participation, adults 18 and over67.0 percent
- Rank by population among Tennessee counties1st of 95
- Rank by population among US county-equivalents, Puerto Rico included62nd of 3,222
Shelby County is the 1st largest of 95 Tennessee counties by population. A median home costs 3.9 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 25.4 percent against 14.8 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Shelby County
Is Shelby County's population growing?
- Population, July 1, 2024910,530
- Census 2020 base population930,015
- Population change since the 2020 census base-2.10 percent
- Population change, 2023 to 2024-3,379
- Births, 202412,440
- Deaths, 20248,827
- Natural change, 20243,613
- Net domestic migration, 2024-12,304
- Net international migration, 20245,341
- Total net migration, 2024-6,963
- Cumulative net domestic migration, 2021 to 2024-42,449
- Rank by growth among US county-equivalents2523rd of 3,144
The county has lost 2.10 percent of its population since the 2020 census base. More people left than moved in during 2024 and births over deaths did not make up the difference, so the population fell.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Shelby County
Where are people moving to Shelby County from?
- Tax returns filed by households arriving15,165
- People arriving, from those returns26,688
- Tax returns filed by households leaving19,010
- Net household movement-3,845
- Adjusted gross income arriving$1.02 bn
- Net adjusted gross income movement$-437.7 m
- Average income of an arriving household$67,153
- Average income of a leaving household$76,596
- Largest single originDeSoto County (1,825 households)
- Largest single destinationDeSoto County (2,657 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| DeSoto County | 1,825 | 3,178 | $86.5 m |
| Tipton County | 600 | 1,120 | $25.1 m |
| Fayette County | 582 | 1,033 | $38.1 m |
| Davidson County | 433 | 675 | $23.8 m |
| Crittenden County | 283 | 546 | $12.1 m |
| Rutherford County | 215 | 333 | $7.2 m |
| Madison County | 211 | 365 | $10.7 m |
| Cook County | 201 | 343 | $12.0 m |
Households arriving report $9,443 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is DeSoto County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Shelby County
What is the Shelby County economy?
- County GDP, 2024$88.40 bn
- County GDP, 2023$85.67 bn
- GDP change, 2023 to 20243.2 percent
- GDP change over five years30.3 percent
- Rank by GDP among the Tennessee areas BEA publishes2nd of 95
- Rank by GDP among the US county areas BEA publishes60th of 3,127
- GDP per resident$96,178
Output grew 3.2 percent in the latest year and 30.3 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Shelby County
Employment by industry in Shelby County
- Covered employment, annual average482,470
- Establishments reporting24,468
- Average annual pay$71,518
- Average weekly wage$1,375
- Health care and social assistance, employment72,996
- Health care and social assistance, average annual pay$71,431
- Transportation and warehousing, employment66,573
- Transportation and warehousing, average annual pay$84,694
- Retail trade, employment43,896
- Retail trade, average annual pay$44,580
- Administrative and support and waste management services, employment38,724
- Administrative and support and waste management services, average annual pay$45,503
- Accommodation and food services, employment38,226
- Wholesale trade, employment28,341
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Health care and social assistance | 72,996 | 3,294 | $71,431 |
| Transportation and warehousing | 66,573 | 1,087 | $84,694 |
| Retail trade | 43,896 | 3,070 | $44,580 |
| Administrative and support and waste management services | 38,724 | 1,646 | $45,503 |
| Accommodation and food services | 38,226 | 2,088 | $26,170 |
| Wholesale trade | 28,341 | 1,763 | $90,277 |
| Manufacturing | 28,130 | 856 | $92,447 |
| Professional, scientific and technical services | 22,130 | 2,922 | $84,328 |
Health care and social assistance is the largest private sector at 72,996 jobs, 15.1 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Shelby County
How many businesses are in Shelby County?
- Establishments, all industries19,359
- Employment at those establishments446,048
- Annual payroll$28.79 bn
- Establishments per 1,000 residents21.1
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Shelby County
Building permits in Shelby County
- Housing units authorized by permit, 20242,061
- Declared construction value permitted$392.2 m
- Single family units authorized642
- Multifamily units authorized1,419
- Multifamily share of units68.9 percent
- Average declared value per unit$190,273
- Units authorized per 1,000 households5.7
Multifamily is 68.9 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Shelby County
SBA loans in Shelby County (7(a) and 504)
- 7(a) approvals recorded584
- 7(a) gross approval dollars$359.8 m
- Average 7(a) approval$616,173
- Median 7(a) approval$300,000
- 10th percentile approval$40,000
- 90th percentile approval$1,741,170
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)8,403
- Jobs per approval14.4
- Distinct 7(a) lenders active88
- Distinct industries receiving approvals196
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer16.1 percent
- Loans on real estate terms94
- Loans on working capital terms, 120 months or shorter430
- Franchise loans137
- Franchise share of approvals23.5 percent
- Leading industry by approval countLimited-Service Restaurants (31)
- Most active lenderPinnacle Bank (63)
- 504 approvals recorded33
- 504 gross approval dollars$36.5 m
- Average 504 approval$1,106,273
- Median 504 approval$634,000
- Distinct CDCs active5
- 504 jobs per approval13.2
- 504 jobs per million dollars approved12.0
- Most active CDCSix Bridges Capital Corporation (12)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$396.4 m
The average approval of $616,173 sits well above the median of $300,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 16.1 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Shelby County
SBA loan default and charge-off rates in Shelby County
Do SBA loans in Shelby County get paid back?
- Loans with a final outcome recorded89
- Paid in full81
- Charged off8
- Charge-off rate on resolved loans9.0 percent
- Status: Exempt from disclosure373
- Status: Charged off8
- Status: Paid in full81
- Status: Cancelled95
- Status: Committed, not yet disbursed27
Of the 89 loans that have reached a final outcome, 9.0 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Shelby County
SBA lending by place in Shelby County
- Borrower cities with recorded lending14
- Memphis, approvals341
- Collierville, approvals61
- Cordova, approvals59
- Bartlett, approvals45
- Germantown, approvals36
- Arlington, approvals15
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Memphis | 341 | $213,892,400 |
| Collierville | 61 | $50,674,600 |
| Cordova | 59 | $33,799,100 |
| Bartlett | 45 | $19,972,600 |
| Germantown | 36 | $15,450,500 |
| Arlington | 15 | $7,236,300 |
| Lakeland | 10 | $2,639,700 |
| Millington | 8 | $7,596,200 |
| 6 other borrower cities | 9 | $8,583,600 |
Memphis accounts for 341 approvals against 61 in Collierville. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Shelby County
How large is Shelby County?
- Land area763 sq mi
- Rank by land area among Tennessee counties1st of 95
- Width, east to west38.3 mi
- Height, north to south37.2 mi
- Geographies sharing a boundary6
- Residents per square mile of land1,205
- Establishments per square mile25.37
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Shelby County
Flood risk in Shelby County
- Participation of the county's own NFIP community Shelby County, unincorporated areasParticipating, community 470214
- Communities in the county in the NFIP Community Status Book8
- Of those, participating in the NFIP8
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Shelby County, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, unincorporated Shelby County (community 470214), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Shelby County in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Shelby County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Shelby County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024919,173
- Households362,741
- Average household size2.53
- Median household income$63,767
- Median age35.9
Common questions
Shelby County questions, answered from the record.
How many people live in Shelby County, Tennessee?
The Census Bureau estimates 910,530 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 919,173, in 362,741 households, ranking 1st of 95 Tennessee counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Shelby County's population growing?
The population has fallen 2.10 percent since the 2020 census base of 930,015, to 910,530 on July 1, 2024. In 2024 there were 12,440 births against 8,827 deaths, with net migration of -6,963. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Shelby County?
$63,767. The median owner-occupied home is valued at $249,100, which is 3.9 times income, and median gross rent is $1,232 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Shelby County?
19,359 establishments, employing 446,048 people with an annual payroll of $28.79 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Shelby County?
Health care and social assistance is the largest private sector at 72,996 jobs, 15.1 percent of covered employment. Covered employment averages 482,470 jobs at an average annual pay of $71,518, or $1,375 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Shelby County?
584 7(a) approvals totaling $359.8 m since FY2020, across 88 lenders, with a median approval of $300,000, plus 33 504 approvals worth $36.5 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Shelby County get paid back?
Of the 89 loans that have reached a final outcome, 81 were paid in full and 8 charged off, a charge-off rate of 9.0 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Shelby County?
2,061 housing units were authorized by permit in 2024, with a declared construction value of $392.2 m. Multifamily was 68.9 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Shelby County?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Shelby County come from?
The largest single origin is DeSoto County, with 1,825 households. Arriving households report an average income of $67,153 against $76,596 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Shelby County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Shelby County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Shelby County
Cities and places in Shelby.
7 Census places lie wholly or partly in Shelby County. All 7 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Memphis | city | 618,980 | 341 | Wholly in this county |
| Bartlett | city | 56,876 | 45 | Wholly in this county |
| Collierville | town | 51,515 | 61 | Wholly in this county |
| Germantown | city | 40,673 | 36 | Wholly in this county |
| Arlington | town | 15,205 | 15 | Wholly in this county |
| Lakeland | city | 14,192 | 10 | Wholly in this county |
| Millington | city | 11,289 | 8 | Wholly in this county |
A further 68 of the county's 584 SBA 7(a) approvals are to borrowers in cities that match no Census place in Shelby County, the largest being Cordova (59), West Hollywood (2), Piperton (2). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.