Memphis, TN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2021-02-06
79
Memphis's Overall Cost Of Living
0.8x
Lower Than The National Average
6 out of 105
In Tennessee
161 out of 6,399
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, TN?

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.

For more reading on life in Memphis, check out:

Memphis Cost Of Living Vs. Tennessee

Living Expense Memphis Tennessee National Average
Overall 79 89 100
Services 86 93 100
Groceries 89 95 100
Health 77 89 100
Housing 62 80 100
Transportation 87 88 100
Utilities 88 96 100
For more reading on cost of living around Tennessee, check out:
Memphis Cost of Living Vs. TN

Memphis, TN Housing Cost Breakdown

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.

$101,800
Median Home Value
$901
Median Rent
$41,228
Median Income
Statistic Memphis Tennessee United States
Median Home Value $101,800 $167,200 $217,500
Median Rent $901 $869 $1,062
Median Income $41,228 $53,320 $62,843
Home Value To Income 2.5x 3.1x 3.5x
Rent To Monthly Income 0.26x 0.2x 0.2x

Detailed Memphis Services Costs Vs. Tennessee

Item Memphis Tennessee
Shampoo $0.79 $1.01
Movie $12.17 $10.72
Bowling $17.5 $13.86

Detailed Memphis Groceries Costs Vs. Tennessee

Item Memphis Tennessee
Ground Beef $3.14 $3.9
Fried Chicken $0.83 $1.4
Milk $2.01 $1.96

Detailed Memphis Health Costs Vs. Tennessee

Item Memphis Tennessee
Haircut $14.5 $17.49
Beauty Salon $33.0 $38.17
Toothpaste $1.76 $2.32

Detailed Memphis Transportation Costs Vs. Tennessee

Item Memphis Tennessee
Potatoes $3.19 $3.18
Pizza $8.25 $10.39
Beer $8.84 $9.23
Optometrist $61.66 $106.34
Doctor $74.63 $115.25
Dentist $75.17 $98.38

Detailed Memphis Utilities Costs Vs. Tennessee

Item Memphis Tennessee
Gasoline $2.3 $2.59
Tire Balancing $42.16 $48.9
All Electricity $131.84 $167.6
Phone $182.13 $163.42

Memphis SnackAbility

3
/10
Overall SnackAbility
Jobs
4/10
Housing
6
Affordability
6
Diversity
8.5
Safety
2
Amenities
9
Education
7
Commute
8.5

Cost Of Living In Cities Around Memphis

City Population Cost Of Living Vs. Memphis
Bartlett, TN 59,102 92 1.2x
Southaven, MS 54,152 85 1.1x
Collierville, TN 50,086 103 1.3x
Germantown, TN 39,193 107 1.4x
Olive Branch, MS 37,461 90 1.1x
Horn Lake, MS 27,080 80 1.0x
West Memphis, AR 24,823 76 1.0x
Hernando, MS 15,942 89 1.1x
Lakeland, TN 12,606 100 1.3x
Marion, AR 12,404 85 1.1x

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