Should you rent in Memphis? Cost of living index: 82/100. Median income: $41,228. See how much rent you can afford and where to look.
Population
633,104
Median Home Price
$180,000
Property Tax Rate
1.29%
Median Income
$41,228
Cost of Living
82/ 100
The rental market in Memphis, TN is shaped by a cost of living index of 82 and a population of 633,104. Rent prices generally correlate with home values — with a median home price of $180,000, rental rates reflect the overall market demand in the area.
Financial experts recommend spending no more than 30% of gross income on rent. With a median household income of $41,228 in Memphis, that means a monthly housing budget of roughly one-third of monthly earnings. Compare this to actual rental listings to gauge affordability.
Memphis offers neighborhoods ranging from walkable urban districts to quieter suburban areas. Rent varies significantly by location, with areas closer to downtown or major employers typically commanding higher prices. Research commute times and amenities when choosing where to rent.
Use our free calculator with Memphis-specific data already filled in.
Open Memphis CalculatorPlanning a move to Memphis? Cost of living index: 82/100. Median home: $180,000. Median income: $41,228. Get the full relocation breakdown.
Median home price in Memphis: $180,000. Property tax rate: 1.29%. Get mortgage estimates, affordability analysis, and local market insights.
Memphis cost of living index: 82/100 (100 = national avg). Median home $180,000, median income $41,228. See housing, groceries & more.
Median household income in Memphis: $41,228. Cost of living index: 82/100. See how far your salary really goes and compare local job market data.
Property tax rate in Memphis: 1.29%. Median home price: $180,000. Calculate your annual bill, compare to state averages, and find exemptions.
What does commuting cost in Memphis? Population: 633,104. Median income: $41,228. Compare transit, driving, and biking options with real local data.
Median home in Memphis: $180,000. Tax rate: 1.29%. Compare Memphis neighborhoods by price, schools, and lifestyle to find the right fit.