Housing costs in Memphis?
A typical home costs
$193,300, which is 42.8% less expensive than the national average of
$338,100 and 30.3% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Memphis costs
$1,310 per month, which is 22.4% more than the national average of
$1,070 and 22.1% more than the state average of
$1,020.
Can I afford Memphis?
To live comfortably in Memphis (zip 38141), Tennessee, a minimum annual income of
$37,080 for a family, and
$45,600 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in 38141 Memphis, TN is relatively low compared to other cities in the United States. The average cost of a one-bedroom apartment is around $650 per month, while a three-bedroom apartment averages just over $900. Additionally, groceries and other necessities are typically cheaper than in other parts of the country. Transportation costs are also quite reasonable with most public transportation being very affordable and easily accessible. Overall, living in 38141 Memphis, TN is an affordable option for those looking to relocate or settle down in the area.