Housing costs in Memphis?
A typical home costs
$264,400, which is 21.8% less expensive than the national average of
$338,100 and 19.3% more expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Memphis costs
$1,130 per month, which is 21.0% cheaper than the national average of
$1,430 and 13.3% more than the state average of
$980.
Can I afford Memphis?
To live comfortably in Memphis, Indiana, a minimum annual income of
$50,760 for a family, and
$37,600 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in Memphis, IN is generally quite affordable. According to BestPlaces, the cost of living index in Memphis is 11.58% lower than the national average. Housing costs are especially low compared to other cities in the US; BestPlaces estimates that it costs around $657 per month to rent a one bedroom apartment in Memphis, whereas the national average is $1,138. Food and transportation are also reasonably priced and groceries are 12% cheaper on average than across the country as a whole. All things considered, Memphis provides a great quality of life at an affordable price.