Housing costs in Memphis?
A typical home costs
$356,200, which is 5.4% more expensive than the national average of
$338,100 and 28.4% more expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Memphis costs
$1,500 per month, which is 40.2% more than the national average of
$1,070 and 32.0% more than the state average of
$1,020.
Can I afford Memphis?
To live comfortably in Memphis (zip 38103), Tennessee, a minimum annual income of
$68,400 for a family, and
$52,800 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in 38103 Memphis, TN is relatively low compared to many other cities. The average rent for a one-bedroom apartment in the area is around $550 per month and the median home price is just over $92,000. The cost of groceries and other necessities is also quite affordable, with prices lower than the national average. Additionally, there are numerous public transportation options available to residents at a reasonable cost, making it even easier to get around the city.