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.
IndexMemphisMichiganNational
Cost of living index8589100
IndexMemphisMichiganNational
Goods & Services index9695100
Groceries index9092100
Health care index9996100
Housing index5873100
Transportation index9897100
Utilities index105100100

Did you know?

  • The cost of living in Memphis is 4% lower than the Michigan average.
  • The cost of living in Memphis is 15% lower than the national average.
  • The cost of housing in Memphis is 42% lower than the national average.
  • Michigan general sales tax is 18% higher than the national average.
  • Michigan state income tax is 91% 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$60,417$5,035$1,410$1,813
Renters$19,821$1,652$462$595

Michigan Sales Tax

StateGeneral Sales TaxWith Max Surtax
Michigan6%6%

Michigan Income Tax

StateIncome Tax (Low)Income Tax (High)
Michigan4.25%4.25%

Goods & Services

ItemMemphisNational avg.Difference
Haircut $16.10$14.5910.3%
Beauty Salon $48.30$34.6839.3%
Toothpaste $1.94$2.4721.6%
Shampoo $0.89$1.0212.9%
Movie $9.93$9.870.6%
Bowling $3.41$4.3922.4%

Groceries

ItemMemphisNational avg.Difference
Ground Beef $4.26$4.484.8%
Fried Chicken $1.19$1.4618.7%
Milk $1.97$2.3616.4%
Potatoes $2.74$3.0610.5%
Pizza $9.00$9.242.6%
Beer $8.39$8.632.8%

Health Care

ItemMemphisNational avg.Difference
Optometrist $81.50$99.7818.3%
Doctor $106.00$105.030.9%
Dentist $89.30$88.700.7%
Ibuprofen $8.22$9.4112.7%
Lipitor $309.77$298.503.8%

Housing

ItemMemphisNational avg.Difference
Home Price $99,000.00$175,700.0043.7%
Avg. Mortgage Payment $927.72$1,081.0314.2%
Apartment Rent $568.00$920.0038.3%

Transportation

ItemMemphisNational avg.Difference
Gasoline $1.95$2.096.9%
Tire Balancing $50.92$45.2912.4%

Utilities

ItemMemphisNational avg.Difference
All Electricity$178.99$170.804.8%
Phone $29.99$28.266.1%
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.
Capac, MI2,03683-17%
Marine City, MI4,19384-16%
Almont, MI2,67086-14%
Marysville, MI9,84288-12%
Richmond, MI5,80688-12%
Memphis, MI1,20085-15%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Fairview Park, IN1,20088-12%
Lakewood Club, MI1,20086-14%
Arlington, GA1,20079-21%
Shenandoah Heights, PA1,20083-17%
Ashland, IL1,20085-15%
Memphis, MI1,20085-15%
Source: The Memphis, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.