Memphis, FL Cost Of Living

Demographics | Cost Of Living
Updated: 2022-04-08
93
Memphis's Overall Cost Of Living
0.9x
Lower Than The National Average
128 out of 459
In Florida
2,137 out of 6,412
In America
The cost of living index is set to 100 for the average place in America. An index above 100 means Memphis is expensive, while a number below 100 means it's a relatively cheap place to live.

What is the cost of living in Memphis, FL?

According to the most recent data on the cost of living, Memphis has an overall cost of living index of 93 which is 0.9x lower than the national index of 100.

Compared to only Florida, Memphis has a cost of living index that's 0.9x lower than Florida's index of 98.

The standard of living in Memphis ranks as #2,137 most affordable out of the 6,418 places we measured in Florida. By definition, that implies Memphis ranks as the #4,282 most expensive place in the Sunshine State.

For more reading on life in Memphis, check out:

Memphis Cost Of Living Vs. Florida

Living Expense Memphis Florida National Average
Overall 93 98 100
Services 100 99 100
Groceries 111 107 100
Health 103 98 100
Housing 70 96 100
Transportation 107 102 100
Utilities 87 106 100
For more reading on cost of living around Florida, check out:
Memphis Cost of Living Vs. FL

Memphis, FL Housing Cost Breakdown

Housing swings affordability the most between places in Florida, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.

Home and income come data comes from the most recent US Census ACS 2014-2018.

$170,100
Median Home Value
$1,028
Median Rent
$56,197
Median Income
Statistic Memphis Florida United States
Median Home Value $170,100 $232,000 $229,800
Median Rent $1,028 $1,218 $1,096
Median Income $56,197 $57,703 $64,994
Home Value To Income 3.0x 4.0x 3.5x
Rent To Monthly Income 0.22x 0.25x 0.2x

Detailed Memphis Services Costs Vs. Florida

Item Memphis Florida
Shampoo $1.02 $1.06
Movie $8.1 $10.68
Bowling $20.08 $14.67

Detailed Memphis Groceries Costs Vs. Florida

Item Memphis Florida
Ground Beef $3.85 $4.22
Fried Chicken $2.11 $1.39
Milk $2.49 $2.05

Detailed Memphis Health Costs Vs. Florida

Item Memphis Florida
Haircut $23.81 $18.62
Beauty Salon $51.15 $39.05
Toothpaste $2.87 $2.34

Detailed Memphis Transportation Costs Vs. Florida

Item Memphis Florida
Potatoes $5.11 $3.29
Pizza $10.51 $10.62
Beer $9.67 $9.38
Optometrist $115.19 $108.57
Doctor $114.5 $116.17
Dentist $102.32 $99.13

Detailed Memphis Utilities Costs Vs. Florida

Item Memphis Florida
Gasoline $2.1 $2.22
Tire Balancing $67.21 $50.07
All Electricity $130.57 $167.67
Phone $188.41 $175.64

Memphis SnackAbility

6
/10
Overall SnackAbility
Jobs
5/10
Housing
8
Affordability
6
Diversity
10
Safety
N/A
Amenities
8.5
Education
6
Commute
6

Cost Of Living In Cities Around Memphis

City Population Cost Of Living Vs. Memphis
St. Petersburg, FL 264,001 95 1.0x
Sarasota, FL 57,787 103 1.1x
Bradenton, FL 57,346 95 1.0x
South Bradenton, FL 24,885 84 0.9x
Apollo Beach, FL 23,487 107 1.2x
Bayshore Gardens, FL 20,380 87 0.9x
Fruitville, FL 14,178 105 1.1x
Palmetto, FL 13,678 95 1.0x
Sarasota Springs, FL 13,053 101 1.1x
Gulfport, FL 12,334 96 1.0x

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