Cost of Living / Memphis, TN Metro
Cost of Living in Memphis, TN Metro
Official metro name: Memphis, TN-MS-AR Metro Area
Memphis, TN Metro has a population of 1,335,804. Median household income is $62,178 and median rent is $1,091 per month. Rent is roughly 21.1% of median monthly income.
State: TNPopulation: 1,335,804Income: $62,178Rent: $1,091Affordability: Affordable (21.1%)
Median Household Income
$62,178
Annual (ACS median)
Median Rent
$1,091
Monthly (ACS median gross rent)
Rent as % of Income
21.1%
rent ÷ (income/12)
Cost Index
83
Simplified relative index
Is Memphis, TN Metro expensive?
Based on median rent and income, Memphis, TN Metro has a Affordable rent burden. Median rent is $1,091, which is about 21.1% of median monthly household income.
Average rent in Memphis, TN Metro
Median rent (ACS) is $1,091 per month. (Neighborhoods vary widely.)
How much income do you need in Memphis, TN Metro?
Median household income (ACS) is $62,178 per year. Housing costs take a bigger share of income when rent burden is high.
Other metros in TN
Compare Memphis, TN Metro with nearby metros:
Data sources
- US Census Bureau American Community Survey (ACS).
- Affordability metric: median rent ÷ (median household income / 12).
- Figures are metro-level medians; local variation is expected.