Memphis cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexMemphisIndianaNational
Cost of living index9488100
IndexMemphisIndianaNational
Goods & Services index10295100
Groceries index9692100
Health care index9095100
Housing index8373100
Transportation index10593100
Utilities index8893100

Did you know?

  • The cost of living in Memphis is 7% higher than the Indiana average.
  • The cost of living in Memphis is 6% lower than the national average.
  • The cost of housing in Memphis is 17% lower than the national average.
  • Indiana general sales tax is 37% higher than the national average.
  • Indiana state income tax is 48% higher than the national average.

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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$65,577$5,465$1,530$1,968
Renters$18,750$1,563$437$563

Indiana Sales Tax

StateGeneral Sales TaxWith Max Surtax
Indiana7%7%

Indiana Income Tax

StateIncome Tax (Low)Income Tax (High)
Indiana3.3%3.3%

Goods & Services

ItemMemphisNational avg.Difference
Haircut $12.80$14.5912.3%
Beauty Salon $35.33$34.681.9%
Toothpaste $2.31$2.476.6%
Shampoo $0.93$1.029.0%
Movie $9.25$9.876.3%
Bowling $4.25$4.393.2%

Groceries

ItemMemphisNational avg.Difference
Ground Beef $3.97$4.4811.3%
Fried Chicken $1.28$1.4612.6%
Milk $2.01$2.3614.7%
Potatoes $3.01$3.061.7%
Pizza $10.00$9.248.2%
Beer $8.85$8.632.5%

Health Care

ItemMemphisNational avg.Difference
Optometrist $82.50$99.7817.3%
Doctor $88.50$105.0315.7%
Dentist $88.40$88.700.3%
Ibuprofen $8.91$9.415.3%
Lipitor $246.60$298.5017.4%

Housing

ItemMemphisNational avg.Difference
Home Price $145,500.00$175,700.0017.2%
Avg. Mortgage Payment $835.10$1,081.0322.7%
Apartment Rent $0.00$920.00100.0%

Transportation

ItemMemphisNational avg.Difference
Gasoline $2.21$2.095.9%
Tire Balancing $46.40$45.292.5%

Utilities

ItemMemphisNational avg.Difference
All Electricity$126.60$170.8025.9%
Phone $30.22$28.266.9%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
New Pekin, IN1,38284-16%
Little York, IN19987-13%
Scottsburg, IN6,70087-13%
Charlestown, IN7,80288-12%
New Albany, IN36,49689-11%
Memphis, IN62494-6%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Hosford, FL62481-19%
Buckley, MI62490-10%
Stuart, NE62484-16%
Sheridan, MI62485-15%
Blue Berry Hill, TX62476-24%
Memphis, IN62494-6%
Source: The Memphis, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.