Shelby County · Tennessee
Cost of living in Memphis, TN
Price levels published by the Bureau of Economic Analysis for Memphis, TN-MS-AR, with the national average set to 100 — so 108 means things cost 8% more here than the US average.
Quick answer
Living in Memphis, TN costs 7.8% below the national average — an all-items price level of 92.2. To match the buying power of a $100,000 national-average salary you would need about $92,179 here.
- All items
- 92.2US average = 100
- Housing
- 79.820.2% below the national average
- Goods
- 96.23.8% below the national average
- Other services
- 95.44.6% below the national average
Price level by component
Where the difference actually comes from.
| Component | Index | vs US | What it covers |
|---|---|---|---|
| Goods | 96.2 | -3.8% | Groceries, fuel, clothing, durable purchases. |
| Housing | 79.8 | -20.2% | Rents and imputed rents — the biggest single swing factor. |
| Utilities | 74.1 | -25.9% | Electricity, gas, water and other household energy. |
| Other services | 95.4 | -4.6% | Healthcare, dining, repairs, personal services. |
What your salary is worth in Memphis, TN
Enter a salary. We deflate it by the local price level (92.2 where 100 is the US average) and show what you would need to earn here to match the same pay somewhere average.
- Real value here
- $52,016
- Needed to match US average
- $44,198
- Monthly difference
- $-312
What a local paycheck is really worth
Nominal pay is only half the story.
The median household in Memphis earns $47,948. Deflated by the local price level, that is $52,016 in national-average dollars — the BEA calls this real income, and it is simply income × 100 ÷ 92.2.
More on Memphis
Same city, other datasets.
2024 BEA Regional Price Parities, published for Memphis, TN-MS-AR. Parities are metro-wide, so a single neighbourhood can sit well above or below these figures.