Cost of Living

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Live Rich

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 19th-largest city in the U.S. but at a cost of living roughly 10% 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.

Did you know:

• Memphis is one of the 10 most TAX FRIENDLY cities in the US according Kiplinger's (May 2007). After all, lifestyle is not about what you earn but what you keep.
• Tennessee has the nation's 6th-lowest total tax burden (SOURCE: Tax Foundation, 2008 | www.taxfoundation.org)
• In 2009, Memphis ranked 4th on Business Week's "Biggest Metro Areas with the Lowest Rents."
• Forbes ranked Memphis ranked 35th as one of "America's Best Bang for the Buck Cities" in 2009.
• According to Forbes, Memphis is one of the best places to LIVE RICH in the US - a "Bohemian Bargain" with a lively inner city.

Compare Memphis

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.