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.
IndexMemphisTennesseeNational
Cost of living index8490100
IndexMemphisTennesseeNational
Goods & Services index9398100
Groceries index9192100
Health care index8589100
Housing index6578100
Transportation index8993100
Utilities index9791100

Did you know?

  • The cost of living in Memphis is 7% lower than the Tennessee average.
  • The cost of living in Memphis is 16% lower than the national average.
  • The cost of housing in Memphis is 35% lower than the national average.
  • Tennessee general sales tax is 37% higher than the national average.
  • Tennessee state income tax is 100% lower than the national average.

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Compare Memphis, TN Cost of living To Other Cities

Tennessee Sales Tax

StateGeneral Sales TaxWith Max Surtax
Tennessee7%9.75%

Tennessee Income Tax

StateIncome Tax (Low)Income Tax (High)
Tennessee0%0%

Goods & Services

ItemMemphisNational avg.Difference
Haircut $15.25$14.594.5%
Beauty Salon $30.80$34.6811.2%
Toothpaste $2.59$2.474.7%
Shampoo $0.82$1.0219.8%
Movie $10.30$9.874.4%
Bowling $3.41$4.3922.4%

Groceries

ItemMemphisNational avg.Difference
Ground Beef $4.79$4.487.0%
Fried Chicken $1.21$1.4617.4%
Milk $2.33$2.361.1%
Potatoes $3.15$3.062.9%
Pizza $8.39$9.249.2%
Beer $8.31$8.633.7%

Health Care

ItemMemphisNational avg.Difference
Optometrist $70.00$99.7829.8%
Doctor $83.80$105.0320.2%
Dentist $85.00$88.704.2%
Ibuprofen $8.48$9.419.9%
Lipitor $233.97$298.5021.6%

Housing

ItemMemphisNational avg.Difference
Home Price $98,300.00$181,400.0045.8%
Avg. Mortgage Payment $730.10$1,081.0332.5%
Apartment Rent $805.00$889.009.4%

Transportation

ItemMemphisNational avg.Difference
Gasoline $1.87$2.0910.6%
Tire Balancing $40.40$45.2910.8%

Utilities

ItemMemphisNational avg.Difference
All Electricity$151.24$170.8011.5%
Phone $30.75$28.268.8%
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.
Jericho, AR8573-27%
Edmondson, AR45976-24%
Sunset, AR22576-24%
West Memphis, AR26,13382-18%
Horn Lake, MS26,12085-15%
Memphis, TN651,05084-16%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
El Paso, TX650,77887-13%
Baltimore, MD620,64496-4%
Boston, MA619,66214444%
Seattle, WA612,91614242%
Nashville, TN605,85997-3%
Memphis, TN651,05084-16%
Source: The Memphis, TN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.