Memphis, TN
Discover how far your salary goes in Memphis. Compare taxes, rent, and living costs.
633,104
None! 🎉
$1,638
/month
+17%
above avg
How far would your salary go in Memphis?
Enter your income to get a personalized breakdown vs 50+ cities
Rent Prices in Memphis
Studio
$1,310
/month
$15,720/year
1 Bedroom
$1,638
/month
$19,656/year
2 Bedroom
$2,211
/month
$26,532/year
3 Bedroom
$2,867
/month
$34,404/year
Taxes in Tennessee
State Income Tax
Tennessee
No State Income Tax!
Tennessee doesn't tax wages—keep more of every paycheck.
Federal Income Tax
Same nationwide
Federal taxes use progressive brackets. The more you earn, the higher your marginal rate.
Learn how tax brackets workMore Affordable Alternatives
Cities with lower cost of living where your money goes further:
Frequently Asked Questions
What is the cost of living in Memphis, TN?▼
Memphis has a cost of living index of 112, which is 12% above the national average. A 1-bedroom apartment costs around $1,638/month.
What is the state income tax in Tennessee?▼
Tennessee has no state income tax! This can save you thousands of dollars per year compared to states with income tax.
How much is rent in Memphis?▼
The median rent for a 1-bedroom apartment in Memphis is $1,638/month. For a 2-bedroom, expect to pay around $2,211/month. This is 17% above the national average.
Is Memphis a good place to live?▼
Memphis is a large city with a population of 633,104. The cost of living is average, making it about average cost for the US. A major advantage is zero state income tax.
See the complete picture for Memphis
Our free calculator shows your exact take-home pay, tax breakdown, and how Memphis compares to 50+ other cities.
Calculate My SalaryFree • No signup • 10 seconds