Indexed to national average (100)
See what salary you'd need in another city to match your purchasing power in Memphis.
About Memphis
Memphis is one of the most affordable major cities in America, with very low housing costs and no state income tax. It serves as a major logistics and distribution hub, home to FedEx's global headquarters.
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Frequently Asked Questions
Is Memphis expensive?
Memphis has a cost of living index of 92.2, where 100 represents the national average. This is close to the national average.
What salary do you need to live comfortably in Memphis?
Based on a rent-to-income ratio of 30%, you'd need at least $47,240 to afford the median 2-bedroom apartment in Memphis and maintain basic expenses.
What is the median rent in Memphis?
The median 2-bedroom rent in Memphis is $1,181 per month, according to HUD Fair Market Rent data.