Memphis vs Memphis: Cost of Living Comparison

Memphis has a cost of living index of 92.2, while Memphis scores 92.2. Memphis is approximately 0.0% more expensive overall. This comparison accounts for housing, groceries, utilities, transportation, healthcare, and taxes.

Median 2-bedroom rent in Memphis is $1,181/month compared to $1,181/month in Memphis — a difference of 0%. Rent is typically the largest monthly expense, so this significantly impacts overall affordability.

Due to cost of living differences, you would need approximately 100% of your Memphis salary to maintain the same standard of living in Memphis. For example, a $75,000 salary in Memphis would need to be about $75,000 in Memphis. Use the salary slider above to calculate your specific equivalent.

The cost of living index is calculated using data from the Bureau of Economic Analysis (Regional Price Parities), US Census Bureau (median incomes and home values), HUD (Fair Market Rents), and Bureau of Labor Statistics (consumer price data). A score of 100 represents the national average. Scores above 100 indicate higher-than-average costs, while scores below 100 are more affordable.

Memphis has a median household income of $51,736 with an unemployment rate of 4%. Memphis has a median household income of $51,736 with an unemployment rate of 4%. While income is higher in Memphis, remember to factor in cost of living when comparing real purchasing power.

Beyond cost of living, consider: (1) state income tax differences — some states have no income tax; (2) housing market trends and whether to rent or buy; (3) job market strength in your industry; (4) healthcare costs and access; (5) climate and lifestyle preferences; (6) commute times and transportation options; and (7) proximity to family. Our comparison tool covers the financial factors, but quality of life matters too.