Memphis, TN Cost Of Living

Demographics | Crime | Cost Of Living | Photos
Updated: 2020-03-08
Memphis's Overall Cost Of Living
Lower Than The National Average
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 6522 places we measured in Tennessee. By definition, that implies Memphis ranks as the #6245 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.

Median Home Value
Median Rent
Median Income
Statistic Memphis Tennessee United States
Median Home Value $97,000 $158,600 $204,900
Median Rent $884 $841 $1,023
Median Income $39,108 $50,972 $60,293
Home Value To Income 2.5x 3.1x 3.4x
Rent To Monthly Income 0.27x 0.2x 0.2x

Memphis SnackAbility

Overall SnackAbility

Cost Of Living In Cities Around Memphis

City Population Cost Of Living Vs. Memphis
Bartlett, TN 58,828 92 1.2x
Southaven, MS 53,274 85 1.1x
Collierville, TN 49,610 103 1.3x
Germantown, TN 39,164 107 1.4x
Olive Branch, MS 36,721 90 1.1x
Horn Lake, MS 26,925 80 1.0x
West Memphis, AR 25,009 76 1.0x
Hernando, MS 15,807 89 1.1x
Lakeland, TN 12,628 100 1.3x
Marion, AR 12,447 85 1.1x

Articles About Tennessee

Enjoy The Snack?