Housing costs in Memphis?
A typical home costs
$127,800, which is 62.2% less expensive than the national average of
$338,100 and 53.9% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Memphis costs
$960 per month, which is 10.3% cheaper than the national average of
$1,070 and 6.3% cheaper than the state average of
$1,020.
Can I afford Memphis?
To live comfortably in Memphis (zip 38111), Tennessee, a minimum annual income of
$24,480 for a family, and
$33,600 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in 38111 Memphis, TN is relatively affordable compared to other cities in the United States. The median home value is around $97,500 and the median rent price is around $780 per month. Groceries, transportation costs, healthcare costs, and utilities are all below the national average. Despite being an affordable place to live, 38111 Memphis still has many amenities including great restaurants, shopping centers, parks and recreation facilities, museums, and much more. With its low cost of living combined with its many amenities and attractions, 38111 Memphis is a great place to live for those looking for a balance between affordability and quality of life.