Housing costs in Memphis?
A typical home costs
$163,400, which is 51.7% less expensive than the national average of
$338,100 and 41.1% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Memphis costs
$1,040 per month, which is 2.8% cheaper than the national average of
$1,070 and close to the state average of
$1,020.
Can I afford Memphis?
To live comfortably in Memphis (zip 38115), Tennessee, a minimum annual income of
$31,320 for a family, and
$36,400 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in 38115 Memphis, TN is quite reasonable. In comparison to other cities in the state, Memphis offers affordable housing prices and low taxes. A variety of neighborhoods offer a wide range of housing options to fit any budget, including homes ranging from modest single-family residences to luxurious estates. Additionally, the cost of living for basic needs such as food and transportation is considered to be very reasonable compared to other cities. Overall, Memphis provides an economically sound place to live for individuals or families looking for an affordable place to live.