Housing costs in Memphis?
A typical home costs
$117,500, which is 65.2% less expensive than the national average of
$338,100 and 57.6% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Memphis costs
$980 per month, which is 8.4% cheaper than the national average of
$1,070 and 4.1% cheaper than the state average of
$1,020.
Can I afford Memphis?
To live comfortably in Memphis (zip 38122), Tennessee, a minimum annual income of
$22,680 for a family, and
$34,400 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in 38122 Memphis, TN is relatively affordable. According to BestPlaces, the median monthly rent for a one-bedroom apartment is $676, and the median price for groceries is $298. The overall cost of living index in this area is rated at 86.9, which is 14.1% lower than the U.S. average. This makes 38122 Memphis, TN an attractive destination for those looking to save money while still enjoying all that this vibrant city has to offer.