Pay and tax
Memphis, TN Cost of Living Calculator
Prices in the Memphis, TN area are 7.8% below the US average, and housing 20.2% below (BEA, 2024). Compare a salary here with anywhere else.
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Memphis, TN price levels by category (US average = 100)
| Category | Price level | Against the US |
|---|---|---|
| All items | 92.2 | 7.8% below |
| Housing | 79.8 | 20.2% below |
| Goods | 96.2 | 3.8% below |
| Utilities | 74.1 | 25.9% below |
| Other services | 95.4 | 4.6% below |
What $75,000 in Memphis, TN equals in other large metros
| Metro area | Equivalent salary | Prices |
|---|---|---|
| New York, NY | $91,594 | 22.1% |
| Los Angeles, CA | $92,408 | 23.2% |
| Chicago, IL | $84,273 | 12.4% |
| Dallas, TX | $83,867 | 11.8% |
| Houston, TX | $80,206 | 6.9% |
| Washington, DC | $88,585 | 18.1% |
| Philadelphia, PA | $83,460 | 11.3% |
| Atlanta, GA | $81,426 | 8.6% |
| Miami, FL | $92,896 | 23.9% |
| Phoenix, AZ | $84,029 | 12.0% |
How this calculator works
BEA regional price parities for the Memphis, TN-MS-AR metropolitan area, 2024: the price of the same basket of goods and services against the US average (100). Equivalent salaries scale by the ratio of the two areas' price levels.
Questions people ask
Is Memphis expensive to live in?
Overall prices are 7.8% below the US average; housing is 20.2% below.
What salary do I need in Memphis, TN?
To match $75,000 in an average-cost place, about $69,150. The area's median household income is $66,401.
How much is rent in Memphis, TN?
The median gross rent (including utilities) is $1,220 a month (Census American Community Survey 2020–2024 5-year estimates).
How does Memphis, TN compare with New York?
New York prices are 22.1% relative to Memphis, TN: $75,000 here equals $91,594 there.
Nearby and large metro areas
- Nashville, TN
- Knoxville, TN
- Little Rock, AR
- Jackson, MS
- Fayetteville, AR
- Chattanooga, TN
- Gulfport, MS
- Clarksville, TN
- Kingsport, TN
- New York, NY
- Los Angeles, CA
- Chicago, IL
- Dallas, TX
- Houston, TX
- Washington, DC
- Philadelphia, PA
- Atlanta, GA
- Miami, FL
- Phoenix, AZ
- Boston, MA
- Riverside, CA
- San Francisco, CA
- Detroit, MI
- Seattle, WA
Related calculators
Sources
- BEA: Regional price parities by metro area, 2024
- US Census Bureau: American Community Survey 2020–2024 5-year estimates (median rent B25064, income B19013)
Updated by the RateHerald team. The maths is tested against worked examples; report a problem.