Cost of Living: Franklin, TN vs Memphis, TN
Quick rent-and-take-home comparison
Using a baseline of $70,000/yr gross, take-home is about $4,516/mo in Franklin, TN versus $4,516/mo in Memphis, TN. In the model, rent is about 27.12% of gross in Franklin, TN versus 16.37% in Memphis, TN, so Memphis, TN tends to feel more affordable for rent.
Compare cost of living, rent, housing prices, and salary affordability between Franklin, TN and Memphis, TN.
At a glance
- Cheaper overall (lower cost-of-living index): Memphis, TN
- Lower rent (median 1BR/2BR): Memphis, TN
- Lower home prices: Memphis, TN
- Higher median household income: Franklin, TN
Cost of Living Index
Franklin, TN: 100 (U.S. = 100) · Memphis, TN: 82.5 (U.S. = 100)
Memphis, TN has a lower cost-of-living index than Franklin, TN, so a given salary generally stretches further there.
Median Rent
Franklin, TN: $1,768/mo (midpoint of 1BR/2BR) · Memphis, TN: $1,067/mo
Median rent in Franklin, TN is $701/mo higher than in Memphis, TN.
Median Home Price
Franklin, TN: $646,300 · Memphis, TN: $157,100
Median home price in Franklin, TN is $489,200 higher than in Memphis, TN.
Median Household Income
Franklin, TN: $115,000 · Memphis, TN: $51,211
Franklin, TN has a higher median household income than Memphis, TN by $63,789.
Franklin, TN overview · Memphis, TN overview · Popular comparisons