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Shelby County, TN — Restaurants Saturation

How many restaurants exist per person present — residents plus daytime workers — by ZIP code, compared with the U.S. average. Establishment data: Census ZBP 2023. Population: ACS 2024 5-year. 60 ZIP codes analyzed.

Includes: Sit-down restaurants with table service. Counted together because official statistics use one 722511 code.

Measured density: Below average — 0.84× the U.S. rate (between 0.84× and 0.86× once withheld ZIP cells are counted)

Why a range: Census does not publish a ZIP-by-industry count when that ZIP has 0–2 businesses. 32 ZIP cells in this county are withheld, 8 of them with residents. Each could hold 0, 1, or 2 businesses: counting them all as 0 gives the low end, counting them all as 2 gives the high end — the data cannot say where the truth sits. The density range uses only the populated cells, since ZIPs without residents are excluded from per-person rates. How ranges work

Below the U.S. rate   Shelby County restaurants — 84–86% of the U.S. rate

615 restaurants are counted in Shelby County — 5.4 per 10,000 people present (residents + daytime workers), 84% of the U.S. rate of 6.4.

On the comparable ZIP set (ZIPs with a published count in every year), the total has risen 9% between 2015 and 2023 (555 → 605). That set is smaller than today's county total. 2020–2021 were pandemic-distorted, and Census rounds counts, so small moves are within noise.

Measured supply density is highest in 38103 (Memphis), 38104 (Memphis), 38117 (Memphis) — well above the national rate. On measured density alone, the lowest-density residential ZIPs with a published count are 38127 (Memphis), 38128 (Memphis), 38118 (Memphis).

BLS QCEW puts the latest county-wide count (2026 Q1) at 669 establishments, the freshest available signal.

Measured density: Shelby County sits at 84% of the U.S. rate for restaurants. 8 ZIPs with population have no published count (each 0–2 businesses), so the true per-capita rate is between 84% and 86% of the U.S. rate. Why. The highest measured density is in 38103 and 38104; the lowest measured density is in 38127 and 38128.

This is a supply-side read: it counts existing restaurants and the people present, not foot traffic, income, rent, or whether locals want more. Treat low density as a question to check, not an answer.

Restaurants
615–679
published count; upper bound counts each withheld ZIP cell as 2 (32 cells) (2023)
Per 10,000 present
5.4
residents + daytime workers
U.S. average
6.4
per 10,000 present
County index
0.84×
vs. U.S.
Latest quarter (QCEW)
669
2026 Q1 — county total
Residents
931,943
36 ZIPs with data
Workers
428,809
jobs located in county

Is the area growing?

Population
910,530
Census PEP, July 1 2024
Change since 2020
−2.1%
−19,258 people
Net migration 2024
−6,963
international +5,341, domestic −12,304
Jobs located here
495,715
LODES 2022, −1.8% since 2019

Shelby County had an estimated 910,530 residents on July 1, 2024 — 2.1% fewer than in 2020 (−19,258). In the latest year it lost 3,379 people: births minus deaths +3,613, international migration +5,341, domestic migration −12,304. Components are published separately and may not sum exactly.

495,715 jobs were located in the county in 2022 (−1.8% since 2019), and 413,908 employed residents lived there (−2.3% since 2019). LODES counts wage and salary jobs covered by unemployment insurance plus federal jobs; it excludes the self-employed and military, and counts jobs rather than unique people. 2019→2022 spans the pandemic, so read it as one change, not a trend.

Population and migration say whether the customer base is growing. They do not say whether people want another business of this type. Definitions and limits →  ·  Full county detail →

ZIP gaining residents
2015–19 → 2020–24
Change

No ZIP had a statistically significant increase.

ZIP losing residents
2015–19 → 2020–24
Change
38114 Memphis
−20.3%

ACS 5-year estimates for 2015–2019 and 2020–2024. Only ZIPs with at least 2,000 residents in both windows and a change larger than the survey margin of error (90%) are listed — small ZIPs move a lot on paper without a real signal.

Nonemployer businesses (no paid employees)

Nonemployer businesses
217
no paid employees (2024)
Receipts
$14.6M
published gross receipts
Receipts per business
$67K
gross, not profit

Census Nonemployer Statistics counts businesses with no paid employees — a separate universe from the employer establishments counted above; a business is in one or the other, never both. They are not storefronts by definition: many are home-based, mobile, or part-time.

We show them beside the density index, not inside it. In categories such as nail and beauty salons, child care, and pet care, one-person businesses can outnumber employer establishments, so the employer-only count understates how many businesses exist. That is not evidence of higher demand.

Receipts are gross revenue reported for these businesses — not profit, and not the size of the local market. Census publishes this only at county level, so it is not shown on the ZIP map. See methodology.

Saturation map

Each ZIP area is shaded by its density of this business type per person present (residents + workers) vs. the U.S. average. Click any ZIP to zoom to its boundary, see its numbers, and switch to aerial imagery. Individual mapped shops appear as dots at street level — Show locations zooms you in to them (scroll or double-click to zoom).

Basemap:
Under 50% 50–100% 100–150% 150–250% 250%+ 0–2 (not published) / no data ZIP total (dot size) Mapped shop (OpenStreetMap, street level)

Map data © OpenStreetMap contributors, tiles by OpenFreeMap.

White dots are ZIP totals from the official Census count — the bigger the dot, the more restaurants in that ZIP. They are aggregated, not individual shops. Turquoise dots are individual locations mapped in OpenStreetMap, shown only at street level; they are crowd-sourced and indicative, may be incomplete, and do not equal the official counts. Only the official ZIP totals feed the saturation index.

Market trend — up 9% since 2015

Number of restaurants in Shelby County across 2015–2023, on a consistent set of ZIP codes present in every year — so changes are real, not ZIP-boundary artifacts. 2015/2018 are pre-pandemic baselines; 2020/2021 are COVID-distorted.

555
2015
586
2018
607
2020
613
2021
630
2022
605
2023

Highest measured density

ZIP
vs. U.S. average
Index
38103 Memphis
381%
38104 Memphis
335%
38117 Memphis
206%
38138 Germantown
189%
38133 Memphis
177%
38119 Memphis
153%
38122 Memphis
108%
38134 Memphis
102%
38105 Memphis
95%
38125 Memphis
93%
38017 Collierville
90%
38115 Memphis
85%
38112 Memphis
77%
38002 Arlington
76%
38053 Millington
72%

Lowest measured density

ZIP
vs. U.S. average
Index
38127 Memphis
11%
38128 Memphis
17%
38118 Memphis
20%
38135 Memphis
20%
38114 Memphis
21%
38106 Memphis
26%
38107 Memphis
32%
38139 Germantown
36%
38120 Memphis
51%
38016 Cordova
58%
38111 Memphis
62%
38116 Memphis
65%
38018 Cordova
67%
38053 Millington
72%
38002 Arlington
76%
Low measured density is not evidence of opportunity. A ZIP with few restaurants may simply lack foot traffic, retail space, or demand. We rank only residential and mixed ZIPs here; employment hubs and visitor destinations are listed separately below. ZIPs where Census did not publish a count (0–2 businesses) are not ranked: they may be the least served of all, but the data cannot tell 0 from 1 or 2. Verify those locally.

Employment hubs & destinations

These ZIPs have far more workers (or visitors) than residents, so their counts are driven by daytime and visitor demand — not a place to read "shortage" from resident numbers alone.

ZIPNeighborhoodType ResidentsWorkersRestaurantsIndex
38054Millington Employment hub 102259 0–2 —
38132Memphis Destination 302,602 0–2 —

Scroll the table sideways to see all columns.

All ZIP codes

Click a column header to sort. Index = restaurants per 10,000 people present (residents + 0.5×workers) ÷ the U.S. average. 100% = exactly average.

ZIPNeighborhood ResidentsWorkersRestaurants Per 10kIndexStatus
38103Memphis 14,53426,012 67 24.3 381% Very high density
38104Memphis 22,63420,112 70 21.4 335% Very high density
38117Memphis 25,77615,171 44 13.2 206% High density
38138Germantown 25,16720,735 43 12.1 189% High density
38133Memphis 21,27823,000 37 11.3 177% High density
38119Memphis 23,46420,433 33 9.8 153% High density
38122Memphis 26,0216,000 20 6.9 108% Above average
38134Memphis 43,94722,107 36 6.5 102% Above average
38105Memphis 5,5348,712 6 6.1 95% Below average
38125Memphis 43,07118,079 31 5.9 93% Below average
38017Collierville 56,82625,584 40 5.7 90% Below average
38115Memphis 38,49114,618 25 5.5 85% Below average
38112Memphis 16,8097,128 10 4.9 77% Below average
38002Arlington 43,8827,080 23 4.9 76% Below average
38053Millington 25,3035,868 13 4.6 72% Below average
38018Cordova 38,52711,621 19 4.3 67% Below average
38116Memphis 40,06116,796 20 4.1 65% Below average
38111Memphis 41,9347,260 18 4.0 62% Below average
38016Cordova 44,1368,392 18 3.7 58% Below average
38120Memphis 13,30916,399 7 3.3 51% Below average
38139Germantown 16,4661,799 4 2.3 36% Far below average
38107Memphis 13,9121,953 3 2.0 32% Far below average
38106Memphis 20,9626,724 4 1.6 26% Far below average
38114Memphis 20,2983,280 3 1.4 21% Far below average
38135Memphis 30,3171,918 4 1.3 20% Far below average
38118Memphis 39,10764,496 9 1.3 20% Far below average
38128Memphis 42,16210,083 5 1.1 17% Far below average
38127Memphis 39,5416,710 3 0.7 11% Far below average
37501Memphis —595 0–2 — — Not published
38014Brunswick —36 0–2 — — Not published
38027Collierville —65 0–2 — — Not published
38028Eads 7,9921,504 0–2 — — Not published
38029Ellendale 039 0–2 — — Not published
38054Millington 102259 0–2 — — Not published
38055Millington —51 0–2 — — Not published
38083Millington —22 0–2 — — Not published
38088Cordova —107 0–2 — — Not published
38101Memphis —9,828 0–2 — — Not published
38108Memphis 17,5623,431 0–2 — — Not published
38109Memphis 42,4526,144 0–2 — — Not published
38113Memphis 02,092 0–2 — — Not published
38124Memphis —60 0–2 — — Not published
38126Memphis 5,9462,116 0–2 — — Not published
38130Memphis —444 0–2 — — Not published
38131Memphis 01,007 0–2 — — Not published
38132Memphis 302,602 0–2 — — Not published
38137Memphis —1,949 0–2 — — Not published
38141Memphis 23,95214,196 0–2 — — Not published
38152Memphis 438487 0–2 — — Not published
38157Memphis —931 0–2 — — Not published
38168Memphis —16 0–2 — — Not published
38173Memphis —49 0–2 — — Not published
38175Memphis —68 0–2 — — Not published
38177Memphis —30 0–2 — — Not published
38181Memphis —60 0–2 — — Not published
38183Germantown —87 0–2 — — Not published
38184Memphis —115 0–2 — — Not published
38186Memphis —35 0–2 — — Not published
38187Memphis —156 0–2 — — Not published
38194Memphis —733 0–2 — — Not published

Scroll the table sideways to see all columns.

Find an actual space in Memphis

The numbers above tell you how the market looks. To find a specific storefront, these marketplaces list available retail space for lease.

LoopNet
Largest commercial marketplace
Browse Memphis retail space →
Crexi
Free listings + market data
Browse Memphis retail space →
CityFeet
Retail space for lease
Browse Memphis retail space →

Open vacancy data (actual empty units) is only published by some cities; where it exists we show it directly. Listings above are third-party.

Census withholds some ZIP-by-industry cells to protect small businesses. 0–2 means the cell was not published (Census publishes industry counts only at 3+ per ZIP), so the ZIP is left unranked rather than counted as zero. ~ means the count is estimated from the broader industry group and can be off by a business or two.

Follow Shelby County and restaurants

When a data vintage changes or a section of this report is revised, we post it to a public update feed. No email address, no account, no tracking — and nothing is sent unless something actually changed.

Subscribe to updates (RSS) How these numbers are built →

Methodology & sources

Establishments. U.S. Census ZIP Code Business Patterns (ZBP 2023), NAICS 722511 — full-service restaurants. Counts establishments with paid employees. ZBP is published annually with a ~2-year lag.

Fresh county signal. BLS QCEW (quarterly) is newer than ZBP — 2026 Q1 shows 669 establishments county-wide for this industry. It cannot be broken down by ZIP.

Population. U.S. Census American Community Survey 2024 5-year ZCTA population (table B01003). Workers are the ZIP's total employment from the same 2023 ZBP file.

Demand ("people present"). Demand comes from residents and daytime workers: residents + 0.5 × workers. This is the single documented assumption in the model and can be tuned.

Index. index = (ZIP establishments ÷ ZIP demand × 10,000) ÷ the U.S. average for this industry (6.39 per 10,000 present). It is a supply-side density measure; it does not capture income, rent, tourism, or whether locals actually want more.

Read the full methodology →  ·  Data sources & vintages →

BizGapMap — free, no-login small-business saturation reports for major U.S. counties. Built entirely from public U.S. Census, BLS, and IRS data (ZBP 2023, ACS 2024 5-year, PEP 2024, LODES, QCEW, IRS SOI). No forecasts, no revenue guesses — withheld cells are marked, and the few derived counts are labelled as estimates.