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.
IndexMemphisMissouriNational
Cost of living index7491100
IndexMemphisMissouriNational
Goods & Services index8895100
Groceries index8897100
Health care index9597100
Housing index3679100
Transportation index8993100
Utilities index99104100

Did you know?

  • The cost of living in Memphis is 19% lower than the Missouri average.
  • The cost of living in Memphis is 26% lower than the national average.
  • The cost of housing in Memphis is 64% lower than the national average.
  • Missouri general sales tax is 17% lower than the national average.
  • Missouri state income tax is 33% lower 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$37,031$3,086$864$1,111
Renters$21,927$1,827$512$658

Missouri Sales Tax

StateGeneral Sales TaxWith Max Surtax
Missouri4.225%9.35%

Missouri Income Tax

StateIncome Tax (Low)Income Tax (High)
Missouri1.5%6%

Goods & Services

ItemMemphisNational avg.Difference
Haircut $7.00$15.5655.0%
Beauty Salon $24.00$36.1133.5%
Toothpaste $2.33$2.475.8%
Shampoo $0.96$0.960.9%
Movie $8.67$10.1314.4%
Bowling $4.00$4.7415.5%

Groceries

ItemMemphisNational avg.Difference
Ground Beef $3.81$3.984.4%
Fried Chicken $1.57$1.4111.3%
Milk $2.00$2.062.9%
Potatoes $2.33$2.9821.8%
Pizza $9.66$9.472.0%
Beer $8.24$8.796.3%

Health Care

ItemMemphisNational avg.Difference
Optometrist $78.00$101.0422.8%
Doctor $121.00$107.4412.6%
Dentist $69.00$90.4223.7%
Ibuprofen $10.69$9.2815.2%
Lipitor $436.12$426.502.3%

Housing

ItemMemphisNational avg.Difference
Home Price $56,400.00$175,700.0067.9%
Avg. Mortgage Payment $820.13$1,133.2327.6%
Apartment Rent $425.00$920.0053.8%

Transportation

ItemMemphisNational avg.Difference
Gasoline $1.87$1.996.4%
Tire Balancing $36.00$45.7621.3%

Utilities

ItemMemphisNational avg.Difference
All Electricity$172.61$163.815.4%
Phone $26.00$28.398.4%
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.
Granger, MO1467-33%
Baring, MO17469-31%
Downing, MO26269-31%
South Gorin, MO12471-29%
Cantril, IA16871-29%
Memphis, MO1,91374-26%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Belleville, PA1,91388-12%
Pinedale, WY1,9131055%
Lakin, KS1,91383-17%
Independence, LA1,91389-11%
Industry, PA1,91487-13%
Memphis, MO1,91374-26%
Source: The Memphis, MO cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.