{"id":142639,"date":"2025-09-09T00:09:33","date_gmt":"2025-09-09T07:09:33","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=142639"},"modified":"2026-02-18T23:21:24","modified_gmt":"2026-02-19T07:21:24","slug":"renters-cost-of-living-memphis-tn","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/local-resources\/renters-cost-of-living-memphis-tn\/","title":{"rendered":"Cost of Living in Memphis, TN: What to Expect When Living Here as a Renter"},"content":{"rendered":"

Set on the banks of the Mississippi River<\/a>, Memphis<\/a> is a city with deep musical roots, rich history and a thriving food scene. For renters considering a rental apartment<\/a> here, one of the first things to think about is how much everyday life will actually cost. Getting familiar with the cost of living in Memphis, TN, helps you set realistic expectations and plan your budget before choosing an apartment.<\/p>\n

Living in Memphis<\/a> goes beyond just paying rent. Essentials like utilities, groceries, health care and transportation all play a role in your monthly expenses. By looking at the average cost of living in Memphis, TN, and comparing it to both the Tennessee and U.S. averages, you\u2019ll get a clearer sense of how this river city measures up and whether it\u2019s the right fit for your lifestyle and finances.<\/p>\n

What\u2019s the average cost of living in Memphis, TN?<\/h2>\n

Renting in Memphis, TN, offers a lifestyle that blends affordability with Southern culture. Whether you\u2019re looking for a downtown apartment or a quieter neighborhood, renters will notice that the average cost of living in Memphis, TN<\/a>, is generally lower than it is in many other cities across the country.<\/p>\n

As of September 2025, the median household income in Memphis, TN, is $51,211. According to our Cost of Living Calculator<\/a>, which uses data from the Council for Community and Economic Research (C2ER<\/a>), the city\u2019s overall cost of living is 1% lower than the Tennessee average and 10% lower than the U.S. average. This makes Memphis one of the more affordable metro areas for renters in the region.<\/div>\n
<\/div>\n

Here\u2019s how the costs in Memphis stack up compared to national averages:<\/p>\n

    \n
  • Housing:<\/strong> 14% below the U.S. average<\/li>\n
  • Utilities:<\/strong> 19% below the national average<\/li>\n
  • Food:<\/strong> 1% below the U.S. average<\/li>\n
  • Healthcare:<\/strong> 14% below the national average<\/li>\n
  • Transportation:<\/strong> 11% below the U.S. average<\/li>\n
  • Goods & Services:<\/strong> 8% below the national average<\/li>\n<\/ul>\n

    Overall, renters will find that the cost of living in Memphis, TN, is lower across several key categories, especially when compared to the U.S. average. In particular, housing, health care and utilities are particularly budget-friendly, making daily life more manageable for residents.<\/p>\n

    Breaking down the cost of living in Memphis, TN<\/h2>\n

    To get a clearer picture of how much you might spend in Memphis, here\u2019s a breakdown of average costs across the main categories:<\/p>\n

    Housing (Buy & Rent)<\/strong><\/p>\n

      \n
    • Average monthly rent: $1,133<\/li>\n
    • Average home price: $404,407<\/li>\n
    • Mortgage rate: 6.9%<\/li>\n<\/ul>\n

      Utilities<\/strong><\/p>\n

        \n
      • Energy bills: $143.68 per month<\/li>\n
      • Phone bills: $195.12 per month<\/li>\n<\/ul>\n

        Food<\/strong><\/p>\n

          \n
        • Milk (1 gallon): $4.67<\/li>\n
        • Eggs (dozen): $3.47<\/li>\n
        • Bread: $3.94<\/li>\n
        • Potatoes: $5.10<\/li>\n
        • Cheese: $4.50<\/li>\n
        • Ground beef: $7.00<\/li>\n<\/ul>\n

          Healthcare<\/strong><\/p>\n

            \n
          • Doctor\u2019s visit: $112.80<\/li>\n
          • Dentist: $97.80<\/li>\n
          • Optometrist: $83.95<\/li>\n<\/ul>\n

            Transportation<\/strong><\/p>\n

              \n
            • Gasoline (1 gallon): $3.00<\/li>\n
            • Tire balancing: $53.33<\/li>\n<\/ul>\n

              Goods & Services<\/strong><\/p>\n

                \n
              • Men\u2019s shirt: $27.44<\/li>\n
              • Women\u2019s slacks: $27.17<\/li>\n
              • Boy\u2019s jeans: $29.59<\/li>\n
              • Haircut: $25.47<\/li>\n
              • Beauty salon: $46.92<\/li>\n
              • Dry cleaning: $9.50<\/li>\n
              • Movie ticket: $13.30<\/li>\n<\/ul>\n

                These categories show how Memphis compares not only to Tennessee, but also to the country overall. The city is particularly appealing to renters who want affordable housing and everyday services while still enjoying access to a wide range of amenities.<\/p>\n

                \"A<\/p>\n

                Is Memphis, TN, a Good Choice for Renters?<\/h2>\n

                Memphis stands out as a city where renters can stretch their budgets further. With housing and utilities costing less than both the state and national averages, everyday life is easier on the wallet, and lower health care and transportation expenses add to the savings. Even categories like food and services, while slightly above the state average, remain more affordable than what you\u2019d find nationally.<\/p>\n

                For those weighing different locations, the average cost of living in Memphis, TN, makes the city an appealing option. With its affordability, cultural depth, and everyday convenience, Memphis is a place where renters can balance lifestyle and budget without compromise.<\/p>\n","protected":false},"excerpt":{"rendered":"

                Set on the banks of the Mississippi River, Memphis is a city with deep musical roots, rich history and a thriving food scene. For renters considering a rental apartment here, one of the first things to think about is how much everyday life will actually cost. Getting familiar with the cost of living in Memphis,…<\/p>\n","protected":false},"author":3644,"featured_media":142641,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[38986,38836],"class_list":["post-142639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-resources","tag-cost-of-living","tag-memphis-tn-local-guides","gallery-content-unit"],"yoast_head":"\nWhat\u2019s the Cost of Living in Memphis, TN?<\/title>\n<meta name=\"description\" content=\"Discover the cost of living in Memphis, TN, from housing to utilities and food, as well as how it compares to state and national averages.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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