Housing costs in Memphis?
A typical home costs
$192,200, which is 43.2% less expensive than the national average of
$338,100 and 47.0% less expensive than the average Florida home, at
$362,400. Renting a two-bedroom unit in Memphis costs
$1,510 per month, which is 5.6% more than the national average of
$1,430 and 3.3% cheaper than the state average of
$1,560.
Can I afford Memphis?
To live comfortably in Memphis, Florida, a minimum annual income of
$36,720 for a family, and
$48,400 for a single person is recommended.
What does A.I. say about Memphis?
Living in Memphis, FL can be relatively affordable. Groceries, goods and services are all reasonably priced compared to other major cities. The cost of housing is also relatively low, making it a great place for people on a budget. The average cost of renting an apartment is about $800 per month and the average cost of purchasing a home is about $133,000. Additionally, utilities such as electricity, gas and water are at the national median price or lower. All in all, Memphis is an affordable city to live in and offers plenty of opportunities for those with a limited budget.