Cost of Living in Memphis, IN

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A+
1%
Overall NAT. AVG.
3%
Groceries NAT. AVG.
4%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Memphis Indiana National
Cost of living9989100
Groceries9797100
Health care9797100
Housing10472100
Transportation9696100
Utilities9896100
Lifestyle & Entertainment9895100
Household Items9898100
Education & Childcare9994100
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Homes For Sale In Memphis, IN

property for sale

320 Fairview Rd

Memphis, IN
property for sale

2625 Vineyard Way Lot 206

Memphis, IN
property for sale

2627 Vineyard Way Lot 205

Memphis, IN
property for sale

1025 Legend Ct

Memphis, IN

Cost Of Living Quick Facts

  • The cost of living in Memphis is 11% higher than the Indiana average
  • The cost of living in Memphis is 1% lower than the national average
  • Memphis housing is 4% higher than the national average
  • Indiana general sales tax is 37% higher than the national average
  • Indiana state income tax is 21% higher than the national average

Most Affordable Places to Live in and Around Memphis

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Compare Memphis, IN Cost of Living

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      Utilities index
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$138,952$11,579$3,242$4,169
      Renters$39,094$3,258$912$1,173

      Indiana Sales Tax

      State General Sales Tax With Max Surtax
      Indiana 7% 7%

      Indiana Income Tax

      State Income Tax (Low) Income Tax (High)
      Indiana 3.15% 3.15%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      New Pekin, IN1,1868415.6%
      Scottsburg, IN6,8668712.9%
      Little York, IN2758712.9%
      New Washington, IN5838713.4%
      Borden, IN1,4929010.1%
      Memphis, IN883990.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      North Topsail Beach, NC88311514.8%
      Blacks Harbour, NB883n/a 
      Cana No. 214, SK883n/a 
      Milk River, AB883n/a 
      Greers Ferry, AR882909.8%
      Memphis, IN883990.7%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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