Cost of Living in Memphis, TN
Memphis's cost of living index is 86 — 14% less expensive than the national average. Tennessee has no state income tax and a statewide COL index of 90.
COL Index
86
100 = national avg
Monthly Budget
$4,300
vs $5,000 national
Population
0.6M
Metro area
State Tax
None
Tennessee
Monthly Cost Breakdown
Estimated monthly costs in Memphis vs national average for a typical household.
| Category | National Avg | Memphis | Difference |
|---|---|---|---|
| Housing | $1,650 | $1,304 | -$346 |
| Groceries | $650 | $577 | -$73 |
| Transportation | $800 | $699 | -$101 |
| Healthcare | $400 | $361 | -$39 |
| Utilities | $300 | $258 | -$42 |
| Other | $1,200 | $1,066 | -$134 |
| Total | $5,000 | $4,300 | -$700 |
Salary Equivalent
To maintain the same standard of living in Memphis, a national-average salary translates to:
$50,000 nationally
$43,000
$75,000 nationally
$64,500
$100,000 nationally
$86,000
$150,000 nationally
$129,000