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One of the most attractive features of life in Memphis is the area’s remarkably low cost of living. From the price of a steak to the cost energy for a home, daily life in Memphis simply takes a smaller bite out of one’s disposable income. Add to this the fact that Tennessee is one of the lowest-taxed states per capita in the nation.
Memphis has, in other words, all the amenities that come with being the 20th-largest city in the U.S. but at a cost of living nearly 14% below the national metro average. For the majority of newcomers, that means more money for travel, leisure and hobbies, or putting away for a rainy day.
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Our Cost of Living Calculator can compare the cost of living in Memphis with cities around the United States. Choose comparison cities and view estimates based on national averages provided by the ACCRA Cost of Living Index.