salaryMemphis is 4% 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
$1,465
$1,399
🛏️ 2-bedroom rent
$1,315
$1,194
💵 Families earn per year
$71,417
$55,797
🔑 Buying a house
$224,800
$169,000
📊 Overall prices (U.S. = 100)
95.7
92.2
🏛️ Property tax per year
$2,037
$1,845
⚡ Electric bill per month
$141
$223
👥 People living there
885,860
618,980
Commute to work
24.6 min
21.1 min
College degree
34.9%
28%
Own their home
56%
44.9%
Below poverty line
15.8%
23.1%
Unemployment
5.1%
8.3%
Bottom line
- Pick Indianapolis 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 | Indianapolis | Memphis | Difference |
|---|---|---|---|
| Plumber | $76,980 | $58,690 | -24% in Memphis |
| Carpenter | $65,070 | $50,620 | -22% in Memphis |
| Dental Hygienist | $97,470 | $78,580 | -19% in Memphis |
| Software Developer | $106,870 | $125,580 | +18% in Memphis |
| Medical Assistant | $46,900 | $39,260 | -16% in Memphis |
| Server (Waiter/Waitress) | $29,050 | $24,550 | -15% in Memphis |
| Operations Manager | $120,480 | $102,510 | -15% in Memphis |
| Licensed Practical Nurse | $67,200 | $59,140 | -12% in Memphis |
Frequently asked questions
Is Indianapolis or Memphis cheaper to live in?
Memphis is about 4% cheaper overall. Rent is $1,399 a month there versus $1,465 in Indianapolis.
What salary do I need in Memphis to match $60,000 in Indianapolis?
About $57,795 a year gives the same standard of living in Memphis.
Where do people earn more, Indianapolis or Memphis?
The typical household earns $71,417 in Indianapolis and $55,797 in Memphis, 28% more in Indianapolis.