Cost of Living: Memphis, TN vs New York, NY
Quick rent-and-take-home comparison
Using a baseline of $70,000/yr gross, take-home is about $4,516/mo in Memphis, TN versus $4,116/mo in New York, NY. In the model, rent is about 16.37% of gross in Memphis, TN versus 25.92% in New York, NY, so Memphis, TN tends to feel more affordable for rent.
Compare cost of living, rent, housing prices, and salary affordability between Memphis, TN and New York, NY.
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: New York, NY
Cost of Living Index
Memphis, TN: 82.5 (U.S. = 100) · New York, NY: 168.2 (U.S. = 100)
Memphis, TN has a lower cost-of-living index than New York, NY, so a given salary generally stretches further there.
Median Rent
Memphis, TN: $1,067/mo (midpoint of 1BR/2BR) · New York, NY: $1,690/mo
Median rent in New York, NY is $623/mo higher than in Memphis, TN.
Median Home Price
Memphis, TN: $157,100 · New York, NY: $751,700
Median home price in New York, NY is $594,600 higher than in Memphis, TN.
Median Household Income
Memphis, TN: $51,211 · New York, NY: $79,713
New York, NY has a higher median household income than Memphis, TN by $28,502.
Memphis, TN overview · New York, NY overview · Popular comparisons