Memphis, TN Cost of Living & Economic Score
Federal Bureau of Economic Analysis cost-of-living and household-budget data for the Memphis, TN metropolitan statistical area.
Cost of living in Memphis
According to the U.S. Bureau of Economic Analysis, prices in the Memphis, TN metropolitan area run 11.0% below the U.S. average (Regional Price Parity index 89.0 on a base of 100). That puts Memphis among the most affordable metros nationally.
For broader state context — including state taxes, insurance, and energy costs that affect every Tennessee household — see the Tennessee state report.
Other Tennessee metros
- Nashville-Davidson-Murfreesboro-Franklin, TN RPP 95.0 C+
- Knoxville, TN RPP 92.0 B-
Compare to similar-cost metros
Frequently Asked Questions
What is the cost of living in Memphis, TN?
The Memphis, TN metro area has a Regional Price Parity (RPP) of 89.0 (U.S.=100), meaning prices are 11.0% below the national average. Source: U.S. Bureau of Economic Analysis.
Is Memphis an affordable place to live?
Memphis, TN has an InflationRank score of 84/100 (grade B), reflecting above-average affordability relative to U.S. metros. The metro RPP of 89.0 compares to a U.S. baseline of 100.
How does Memphis compare to other cities for cost of living?
Memphis, TN has a cost-of-living index of 89.0 (U.S.=100), 11.0% below the national average. Similar-cost metros include Toledo, OH (RPP 89.0), Wichita, KS (RPP 89.0).
About the InflationRank Score
The InflationRank Score is a proprietary 0–100 composite that summarizes a metro area's cost-of-living and economic conditions on a familiar A–F grading scale. The composite weighs cost level, inflation pressure, and income resilience, sourced from federal government datasets and reviewed annually as federal data refreshes.
Underlying data is drawn from authoritative federal economic agencies and public housing datasets. See full data sources →