According to the most recent data on the cost of living, Memphis has an overall cost of living index of 79 which is 0.8x lower than the national index of 100.
Compared to only Tennessee, Memphis has a cost of living index that's 0.9x lower than Tennessee's index of 89.
The standard of living in Memphis ranks as #161 most affordable out of the 6,522 places we measured in Tennessee. By definition, that implies Memphis ranks as the #6,245 most expensive place in the Volunteer State.
|Living Expense||Memphis||Tennessee||National Average|
Housing swings affordability the most between places in Tennessee, 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.
|City||Population||Cost Of Living||Vs. Memphis|
|Olive Branch, MS||37,461||90||1.1x|
|Horn Lake, MS||27,080||80||1.0x|
|West Memphis, AR||24,823||76||1.0x|