Housing costs in Memphis?
A typical home costs
$90,200, which is 73.3% less expensive than the national average of
$338,100 and 67.5% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Memphis costs
$850 per month, which is 20.6% cheaper than the national average of
$1,070 and 20.0% cheaper than the state average of
$1,020.
Can I afford Memphis?
To live comfortably in Memphis (zip 38109), Tennessee, a minimum annual income of
$17,280 for a family, and
$30,000 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in 38109 Memphis, TN is generally considered to be quite affordable. Housing costs tend to be reasonable compared to the national average, and utilities are also relatively inexpensive. Groceries can cost slightly more than what you might find in other cities, but there are plenty of grocery stores and markets to choose from. Transportation costs can also vary depending on the location; however, public transportation and ride-sharing services are available at a reasonable price. Overall, the cost of living in 38109 Memphis, TN is quite attractive for anyone looking for a place to live that won't break the bank.