Shelby County, Tennessee: commercial real estate data.
Shelby County, Tennessee has a population of 919,173 across 763 square miles, down 2.1 percent since the 2020 census base. 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.
123 sourced county values · tier FULL · 11 sections
Shelby County
How many people live in Shelby County
- Population919,173
- 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-equivalents62nd
Shelby County is the 1st largest of 95 Tennessee counties by population. A median home costs 3.9 times median household income, which is an affordable ownership market 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 growing
- Population change since the 2020 census base-2.10 percent
- Census 2020 base population930,015
- 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
The county has lost 2.10 percent of its population since the 2020 census base. Births exceeded deaths in 2024 but more people left than arrived, so the population is being sustained internally rather than attracting.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Shelby County
Where people moving to Shelby County come from
- Tax returns filed by households arriving15,165
- People arriving, from those returns26,688
- Adjusted gross income arriving$1.02 bn
- Net adjusted gross income movement$0
- Average income of an arriving household$67,153
- Largest single originShelby County Non-migrants (342,693 households)
- Largest single destination (342,693 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Shelby County Non-migrants | 342,693 | 678,724 | $30.24 bn |
| Other flows - Different State | 4,317 | 7,773 | $350.3 m |
| Other flows - South | 2,276 | 4,092 | $157.3 m |
| DeSoto County | 1,825 | 3,178 | $86.5 m |
| Other flows - Midwest | 965 | 1,667 | $106.6 m |
| Other flows - West | 605 | 1,158 | $50.8 m |
| Tipton County | 600 | 1,120 | $25.1 m |
| Fayette County | 582 | 1,033 | $38.1 m |
The largest single source of arrivals is Shelby County Non-migrants, 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 the Shelby County economy runs on
- 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 Tennessee counties2nd
- Rank by GDP among US county-equivalents60th
- 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
Who employs people in Shelby County
- Covered employment, annual average482,470
- Establishments reporting24,468
- Average annual pay$71,518
- Average weekly wage$1,375
- Sector 62, employment72,996
- Sector 62, average annual pay$71,431
- Sector 48-49, employment66,573
- Sector 48-49, average annual pay$84,694
- Sector 44-45, employment43,896
- Sector 44-45, average annual pay$44,580
- Sector 56, employment38,724
- Sector 56, average annual pay$45,503
- Sector 72, employment38,226
- Sector 42, employment28,341
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 72,996 | 3,294 | $71,431 |
| Sector 48-49 | 66,573 | 1,087 | $84,694 |
| Sector 44-45 | 43,896 | 3,070 | $44,580 |
| Sector 56 | 38,724 | 1,646 | $45,503 |
| Sector 72 | 38,226 | 2,088 | $26,170 |
| Sector 42 | 28,341 | 1,763 | $90,277 |
| Sector 31-33 | 28,130 | 856 | $92,447 |
| Sector 54 | 22,130 | 2,922 | $84,328 |
The largest sector is the biggest private employer group at 72,996 jobs, 15.1 percent of covered employment. Average pay per job exceeds median household income, which usually means single earner households and a wage base that can carry rent.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Shelby County
What businesses operate 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.
US Census Bureau, County Business Patterns, 2023.
Shelby County
What is being built in Shelby County
- Housing units authorised by permit, 20242,061
- Declared construction value permitted$392.2 m
- Single family units authorised642
- Multifamily units authorised1,419
- Multifamily share of units68.9 percent
- Average declared value per unit$190,273
- Units authorised per 1,000 households5.7
Multifamily is 68.9 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Shelby County
How much SBA lending happens in Shelby County
- 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$1,778,100
- 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)
- 7(a) share of SBA approvals94.7 percent
- Combined SBA approval dollars$396.4 m
The average approval of $616,173 sits well above the median of $300,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually 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
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.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Shelby County
Which parts of Shelby County get the lending
- Places in the county with recorded lending14
- MEMPHIS, approvals341
- COLLIERVILLE, approvals61
- CORDOVA, approvals59
- BARTLETT, approvals45
- GERMANTOWN, approvals36
- ARLINGTON, approvals15
| Place | 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 |
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 big 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 boundary2
- 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.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
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.
- Population919,173
- 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?
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 growing?
The population has fallen 2.10 percent since the 2020 census base. 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 there 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 the average wage in Shelby County?
Average annual pay is $71,518, or $1,375 a week, across 482,470 covered jobs. 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 totalling $359.8 m since FY2020, across 88 lenders, with a median approval of $300,000, plus 33 504 approvals worth $36.5 m. 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.
What is being built in Shelby County?
2,061 housing units were authorised 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 Shelby County Non-migrants, with 342,693 households. Arriving households report an average income of $67,153 against null 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?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.