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Cost of living in Memphis, TN

Livability score 70 · cost-of-living index 91.9 (US = 100)

Memphis, TN
Photo: Quintin Soloviev via Commons · CC BY 4.0

How Memphis compares

Where Memphis falls within the range of all 200 metros (marker = this city).

Cost-of-living index (US=100) 85 118 Cost-of-living index (US=100): 92 — range 85 to 118 across all metros 92 Median home price $149k $1610k Median home price: $247k — range $149k to $1610k across all metros $247k Price per sqft (more house = lower) $88 $1074 Price per sqft (more house = lower): $124 — range $88 to $1074 across all metros $124 Combined sales tax 0.0% 11.5% Combined sales tax: 9.6% — range 0.0% to 11.5% across all metros 9.6% Property tax rate 0.28% 2.76% Property tax rate: 0.87% — range 0.28% to 2.76% across all metros 0.87% Violent crime (per 100k, state avg) 110 1,000 Violent crime (per 100k, state avg): 600 — range 110 to 1,000 across all metros 600 Electricity (¢/kWh) 12.3 46.6 Electricity (¢/kWh): 14.9 — range 12.3 to 46.6 across all metros 14.9 Avg summer high (°F) 65° 104° Avg summer high (°F): 89° — range 65° to 104° across all metros 89° Avg winter low (°F) -2° 72° Avg winter low (°F): 30° — range -2° to 72° across all metros 30°

Map of Memphis

Grocery stores, parks, golf courses and more — real listings. Toggle categories in the legend.

Map data © OpenStreetMap contributors · business listings via Google Maps

Cost of living

MetricValueScopeUS rank
Cost-of-living index (US=100)91.9metro-area#58 of 200
Grocery index (US=100)94.3metro-area#45 of 200
Big Mac price (est.)$5.23metro-area#55 of 200
Median household income$62,178metro-area#164 of 200
Median wage (all occupations)$39,034metro-area#115 of 200

Who lives here

MetricValueScopeUS rank
Median age36.7 yearsmetro-area#53 of 200
Bachelor's degree or higher (25+)30.7%metro-area#128 of 200
Foreign-born residents6.1%metro-area#143 of 200
Homes that are owner-occupied60.6%metro-area#168 of 200

Economy

MetricValueScopeUS rank
Unemployment rate6.84%metro-area#180 of 200
Population growth (5-yr)-0.6%metro-area#178 of 200

Housing — what your money buys

MetricValueScopeUS rank
Median home price$247,229metro-area#41 of 200
Home price ÷ income (affordability)4.0×metro-area#54 of 200
1-yr home appreciation+0.1%metro-area#135 of 200
Price per square foot$124metro-area#32 of 200
Typical home size (implied)2,000 sqft
Median rent (monthly)$1,441metro-area#61 of 200
Homes for sale (inventory)6,017
Median days on market24metro-area#137 of 200

Taxes

MetricValueScopeUS rank
Total tax burden (est. % of income)7.6%state#2 of 200
Combined sales tax9.55%state#189 of 200
State income tax (top rate)None
Capital gains taxNonestate#1 of 200
High earnersNo special surtax
Social Security in retirementNot taxed — has no state income tax, so Social Security is untaxed along with everything else
Effective property tax rate0.87%metro-area#101 of 200
Median property tax paid$1,815metro-area#51 of 200

Health & childcare

MetricValueScopeUS rank
Life expectancy at birth72.0 yearsmetro-area#196 of 200
Healthcare (annual, single adult)$6,300state#17 of 200
Uninsured (share of residents)11.2%metro-area#139 of 200
Primary care providers per 100k66metro-area#150 of 200
Childcare (annual, infant, center)$9,000state#25 of 200

Vehicles & commute

MetricValueScopeUS rank
Annual registration$55state#13 of 200
Vehicle property tax (annual)Nonestate#1 of 200
Emissions testingNot required
Emissions detailStatewide testing ended 2022
DMV & license offices7
Avg commute to work24 minmetro-area#101 of 200
Commute by driving alone79.6%metro-area#174 of 200
Solo drivers commuting 30+ min34.5%metro-area#129 of 200

Utilities & fuel

MetricValueScopeUS rank
Electricity14.9¢/kWhstate#32 of 200
Avg monthly electric bill$134state#32 of 200
Gasoline$2.95/galstate#3 of 200
Natural gas (avg monthly bill)$62state#69 of 200
Water & sewer (avg monthly bill)$121state#132 of 200
Home internet (avg monthly bill)$80state#106 of 200

Insurance

MetricValueScopeUS rank
Home insurance (annual)$2,200state#129 of 200
Auto insurance (annual)$1,600state#51 of 200

Disaster risk & supplemental insurance

MetricValueScopeUS rank
Main natural hazardsNotable hazards: tornadoes, earthquakes — separate flood/quake/windstorm policies may be needed.
FEMA National Risk Index (0–100, higher = more risk)92.9 — Relatively Moderatemetro-area#128 of 200
Flood insurance (annual, NFIP)$700state#61 of 200
Earthquake insurance (annual)$350state#149 of 200

Climate & air quality

MetricValueScopeUS rank
Air quality (median AQI, lower=cleaner)56metro-area#181 of 200
Cooling degree-days (AC load)1,700metro-area#128 of 200
Homes with air conditioning (state)93%state#87 of 200
Heating degree-days (heat load)3,600metro-area#94 of 200
Days per year ≥ 90°F64metro-area#144 of 200
Days per year ≥ 100°F2metro-area#144 of 200
Avg summer high (state)89°Fmetro-area#113 of 200
Avg winter low30°Fmetro-area#89 of 200
Annual precipitation54.9"metro-area#182 of 200
Annual snowfall2.7"metro-area#76 of 200
Sunshine (% of possible)64%metro-area#59 of 200
Plant hardiness zone7a
Frost window04-10 → 11-01

Safety

MetricValueScopeUS rank
Violent crime (per 100k, state avg)600state#185 of 200
Property crime (per 100k, state avg)2,600state#157 of 200

Local amenities & recreation

MetricValueScopeUS rank
Grocery stores37metro-area#128 of 200
Parks55
Hiking areas12
Golf courses18
Shooting ranges5
Lakes12

Permits

MetricValueScopeUS rank
Building permit difficulty (1–5)2state#1 of 200
Permit detailGenerally easy

US rank = this metro's position among all 200 metros (1 = best: cheapest / safest / highest income, etc.). Childcare is a family cost, not included in the salary-equivalence total.

Top employers in Memphis

Major public and private employers in the Memphis, TN area.

EmployerSectorJobs
FedEx logistics Careers →
Shelby County Schools Education Search →
Methodist Le Bonheur Healthcare Search →
Baptist Memorial Healthcare Search →
St. Jude Children's Research Hospital Healthcare Careers →
Smith & Nephew Manufacturing Careers →

Salaries by occupation in Memphis

Local median pay, BLS OEWS. All occupations →

OccupationMedian pay
Dentists $168,630
Pharmacists $132,780
Marketing Managers $132,720
Financial Managers $130,310
Human Resources Managers $125,270
Lawyers $121,550
Physician Assistants $117,380
Software Developers $113,500
Data Scientists $101,120
Physical Therapists $100,220
Mechanical Engineers $99,990
General & Operations Managers $95,460
Civil Engineers $86,650
Construction Managers $84,690
Registered Nurses $77,290
Web Developers $76,940
Accountants & Auditors $72,060
Dental Hygienists $71,720
Police & Sheriff's Patrol Officers $64,360
Heavy & Tractor-Trailer Truck Drivers $58,050
Elementary School Teachers $55,180
Electricians $54,660
Plumbers, Pipefitters & Steamfitters $54,650
Carpenters $47,700
Graphic Designers $47,520
Welders, Cutters & Solderers $45,260
Real Estate Sales Agents $38,460
Medical Assistants $37,550

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