Memphis, TN Cost of Living

148 Reviews

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Memphis cost of living score
Less expensive
14.2% lower
than the US average
4.6% lower
than the Tennessee average
Memphis, Tennessee gets a BestPlaces Cost of Living score of 85.8, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 14.2% lower than the U.S. average and 4.6% higher than the average for Tennessee.

Memphis, TN

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.
   Cost of living score
     CategoriesMemphisTennesseeUnited States

   100=National Average

   Average Rent by Bedroom Size
Reviews for Memphis
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I was mugged my very first night in Memphis. They tried to take my iPhone. I was walking only a block from my house in a "safe" area, too.  More

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Memphis is a city with a history of civil rights, slavery , blues and rockn'roll music. It's a great place for a weekend getaway. This city has lots of great things to  More

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Over 4 years ago

Do you like being panhandled every 30 seconds? Love that cool ambiance of gangs? Are drugs your thing? Then you will love Memphis. Had good times here in the 90’s, the  More

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