Housing costs in Memphis?
A typical home costs
$135,100, which is 60.0% less expensive than the national average of
$338,100 and 51.3% 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 38128), Tennessee, a minimum annual income of
$25,920 for a family, and
$36,400 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in 38128 Memphis, TN is relatively affordable. According to Best Places, the median home price is $133,800 and the median annual income is $42,530. The area has a cost of living index of 92.4 which is 8% lower than the national average. Other factors such as housing costs, health care costs and utilities are all lower than the national average. This means that living in this area is more affordable than in most other cities across the US. Additionally, there are also lots of things to do and see in Memphis without spending too much money.