salaryMemphis is 11% cheaperBased on official 2024 price levels from the U.S. Bureau of Economic Analysis.
I need in Memphis to live the same way.
🏠 Rent per month
$1,983
$1,399
🛏️ 2-bedroom rent
$1,622
$1,194
💵 Families earn per year
$84,017
$55,797
🔑 Buying a house
$334,100
$169,000
📊 Overall prices (U.S. = 100)
103.6
92.2
🏛️ Property tax per year
$4,943
$1,845
⚡ Electric bill per month
$90
$223
👥 People living there
2,711,226
618,980
Commute to work
33.1 min
21.1 min
College degree
44.3%
28%
Own their home
46%
44.9%
Below poverty line
16.8%
23.1%
Unemployment
8%
8.3%
Bottom line
- Pick Chicago for higher incomes, a more educated workforce, less poverty and 1 more.
- Pick Memphis for lower rent, cheaper 2-bedroom apartments, cheaper homes and 1 more.
Pay for the same job
| Job | Chicago | Memphis | Difference |
|---|---|---|---|
| Plumber | $103,380 | $58,690 | -43% in Memphis |
| Electrician | $102,350 | $60,890 | -41% in Memphis |
| Carpenter | $80,440 | $50,620 | -37% in Memphis |
| Police Officer | $107,810 | $75,410 | -30% in Memphis |
| HVAC Technician | $77,960 | $56,780 | -27% in Memphis |
| Licensed Practical Nurse | $78,070 | $59,140 | -24% in Memphis |
| Firefighter | $82,820 | $62,910 | -24% in Memphis |
| Dental Hygienist | $100,260 | $78,580 | -22% in Memphis |
Frequently asked questions
Is Chicago or Memphis cheaper to live in?
Memphis is about 11% cheaper overall. Rent is $1,399 a month there versus $1,983 in Chicago.
What salary do I need in Memphis to match $60,000 in Chicago?
About $53,388 a year gives the same standard of living in Memphis.
Where do people earn more, Chicago or Memphis?
The typical household earns $84,017 in Chicago and $55,797 in Memphis, 51% more in Chicago.