Housing costs in Memphis?
A typical home costs
$273,000, which is 19.3% less expensive than the national average of
$338,100 and 23.2% more expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Memphis costs
$1,090 per month, which is 23.8% cheaper than the national average of
$1,430 and 10.1% more than the state average of
$980.
Can I afford Memphis?
To live comfortably in Memphis (zip 47143), Indiana, a minimum annual income of
$52,200 for a family, and
$36,400 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in 47143 Memphis, IN is very affordable. According to the most recent data from Sperling's Best Places, the cost of living index for this area is 84.4, which is 16.6% lower than the U.S. average of 100. Housing costs are especially low with a median home price of $97,800 and a median rental price of just $549 per month. Groceries, utilities, health care costs and transportation are all lower than the national average as well, making 47143 Memphis an excellent place to live for those on a budget.