Cost of living in Memphis, TN
What it costs to live in Memphis, TN today, and what changes if you move. Pick a destination below for a full side-by-side on housing, tax and everyday prices. Moving to Memphis, TN instead?
Memphis, TN at a glance
- Median home value
- $245,900
- Median rent
- $1,220/mo
- Median household income
- $66,401
- State income tax
- No state income tax
- Property tax
- 0.76% of value
- State sales tax
- 7.00%
Medians for the metro area, not a particular home or household.
Run this with your own numbers
Estimates only, not advice. Housing and income figures come from the U.S. Census Bureau's American Community Survey (2024); price levels from the Bureau of Economic Analysis (2024); tax rates are for the 2026 tax year, compiled from state revenue departments and the Tax Foundation. Every figure is a median or average for the metro area and will not match any particular household.