Housing costs in Memphis?
A typical home costs
$148,300, which is 56.1% less expensive than the national average of
$338,100 and 46.5% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Memphis costs
$1,060 per month, which is 25.9% cheaper than the national average of
$1,430 and close to the state average of
$1,070.
Can I afford Memphis?
To live comfortably in Memphis, Tennessee, a minimum annual income of
$28,440 for a family, and
$36,800 for a single person is recommended.
What does A.I. say about Memphis?
Memphis, Tennessee is known as one of the most affordable places in the country but still offers plenty on the entertainment side too. From reasonably priced single-family homes and apartments - as well as local businesses offering special deals - sticking within your budget won't be hard here. Moreover, food and transportation expenses remain fairly low when compared with other US cities - making Memphis a great option if you're after value out of your dollar.