Memphis, TN cost of living
TN · BLS RPP 88.6
Estimated — not yet source-verified.Estimated — not yet source-verified against official BLS/HUD figures. This page is not indexed. Treat the RPP and FMR values as rough proxies and verify with the BLS or HUD datasets directly before relying on them.
Overall RPP
88.6
US = 100
Housing RPP
76.4
Housing component
Goods RPP
97.2
Goods component
2-BR Rent (HUD)
$1,020/mo
FY2024 FMR
What salary do you need in Memphis, TN?
Equivalent salary to maintain the same purchasing power as in a US-average city (RPP 100).
| In US-average city | You need in Memphis, TN | Formula |
|---|---|---|
| $50,000 | $44,300 | $50,000 x (88.6/100) |
| $75,000 | $66,450 | $75,000 x (88.6/100) |
| $100,000 | $88,600 | $100,000 x (88.6/100) |
| $125,000 | $110,750 | $125,000 x (88.6/100) |
| $150,000 | $132,900 | $150,000 x (88.6/100) |
| $200,000 | $177,200 | $200,000 x (88.6/100) |
This tool provides estimates only. Equivalent-salary figures are derived from BLS Regional Price Parities (RPP) and HUD Fair Market Rents — they are averages, not guarantees. Actual cost of living varies by neighborhood, lifestyle, and individual circumstances. Not financial advice.
State income tax note
Tennessee has no state income tax on wages.
Frequently asked questions
- What is the cost of living in Memphis, TN?
- Memphis, TN has a BLS Regional Price Parity of 88.6 (US average = 100). It is 11.4% less expensive than the national average.
- What salary do I need to live in Memphis, TN?
- If you earn $100,000 in a US-average city (RPP 100), you would need approximately $88,600 in Memphis, TN to maintain the same purchasing power.
- What is the average rent in Memphis, TN?
- The HUD Fair Market Rent for a 2-bedroom in Memphis, TN is approximately $1,020 per month as of FY2024.
Compare with other cities
Buying a home in Memphis, TN? See closing costs at TallyClose.