salaryMemphis is 5% 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
$1,723
$1,399
🛏️ 2-bedroom rent
$1,628
$1,194
💵 Families earn per year
$84,177
$55,797
🔑 Buying a house
$372,900
$169,000
📊 Overall prices (U.S. = 100)
97.3
92.2
🏛️ Property tax per year
$6,541
$1,845
⚡ Electric bill per month
$120
$223
👥 People living there
278,001
618,980
Commute to work
19.4 min
21.1 min
College degree
59.9%
28%
Own their home
46%
44.9%
Below poverty line
16.4%
23.1%
Unemployment
2.7%
8.3%
Bottom line
- Pick Madison for higher incomes, shorter commutes, a more educated workforce and 2 more.
- Pick Memphis for lower rent, cheaper 2-bedroom apartments, cheaper homes.
Pay for the same job
| Job | Madison | Memphis | Difference |
|---|---|---|---|
| Plumber | $85,160 | $58,690 | -31% in Memphis |
| Electrician | $78,430 | $60,890 | -22% in Memphis |
| Dental Hygienist | $100,340 | $78,580 | -22% in Memphis |
| Server (Waiter/Waitress) | $30,910 | $24,550 | -21% in Memphis |
| Carpenter | $63,480 | $50,620 | -20% in Memphis |
| Medical Assistant | $48,750 | $39,260 | -19% in Memphis |
| Registered Nurse | $101,190 | $81,500 | -19% in Memphis |
| Operations Manager | $126,620 | $102,510 | -19% in Memphis |
Frequently asked questions
Is Madison or Memphis cheaper to live in?
Memphis is about 5% cheaper overall. Rent is $1,399 a month there versus $1,723 in Madison.
What salary do I need in Memphis to match $60,000 in Madison?
About $56,850 a year gives the same standard of living in Memphis.
Where do people earn more, Madison or Memphis?
The typical household earns $84,177 in Madison and $55,797 in Memphis, 51% more in Madison.