Last updated 2026-06-12 ยท MovePlan Editorial Team
Well below the national average, with low housing costs and no state income tax.
Cost of living index (US avg = 100): 87
Median 2BR rent: $1,300/mo
Housing: 80 vs 100
Groceries: 93 vs 100
Utilities: 102 vs 100
Transportation: 95 vs 100
Healthcare: 94 vs 100
Memphis offers music, barbecue, and a low cost of living with no state income tax. Affordable housing and a slower pace make it a strong budget choice.