Housing costs in Memphis?
A typical home costs
$61,000, which is 82.0% less expensive than the national average of
$338,100 and 78.0% 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 38108), Tennessee, a minimum annual income of
$11,520 for a family, and
$30,000 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in 38108 Memphis, TN is very reasonable. The median home value is around $120,000 and the median rent is just over $800 per month. The overall cost of living index for 38108 Memphis, TN is rated as 4% lower than the national average. This makes it a great place to live for individuals and families looking for affordable and quality housing. In addition, there are plenty of attractive opportunities for employment in this area with several major employers located nearby. All in all, living in 38108 Memphis, TN offers an excellent quality of life at a very reasonable price.