Housing costs in Memphis?
A typical home costs
$68,700, which is 79.7% less expensive than the national average of
$338,100 and 75.2% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Memphis costs
$870 per month, which is 18.7% cheaper than the national average of
$1,070 and 17.2% cheaper than the state average of
$1,020.
Can I afford Memphis?
To live comfortably in Memphis (zip 38114), Tennessee, a minimum annual income of
$13,320 for a family, and
$30,400 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in Memphis, TN is relatively low compared to the national average. The median home value in 38114 Memphis, TN is $72,800 and housing prices are typically around 25% lower than the national median. The cost of basic items such as food and utilities also tend to be below the national averages. Additionally, there are many affordable options for transportation in the area, making it easy to get around without spending too much money. In conclusion, living in 38114 Memphis, TN can be quite economical for those on a budget.