Did the Cost of Living in Memphis, TN increase in 2020? Memphis, TN area prices were up 1.3% from a year ago. The largest increases were found in Transportation, Food, and Housing.
By using Salary.com's Cost of Living Calculator, you can make a cost of living comparison of the Consumer Price Index (CPI) and salary differentials of over 300+ US cities. Let us help you make an informed decision about what it will cost to live and work in the city of your dreams!
About Memphis, Tennessee Memphis is a city located along the Mississippi River in southwestern Shelby County, Tennessee, United States. The 2017 city population was 652,236, m....More
Based on this cost of living comparison, you can see:
If you move from Chicago IL, Dallas, TX, or Miami, FL, the percent increase of your cost of living could be 22.8%, 37.8%, and 24.8%. Looks like this move could have a negative net change in disposable income, so please think carefully!
If you move from New York, NY, San Francisco, CA, or Washington, DC, the percent reduction of your cost of living could be -43.50%, -23%, and -20.10%, that's good news to you that you could be looking at a positive net change in disposable income.
About Memphis, TN
Memphis is a city located along the Mississippi River in southwestern Shelby County, Tennessee, United States. The 2017 city population was 652,236, making Memphis the largest city on the Mississippi River, second-largest city in Tennessee, as well as the 25th largest city in the United States. Greater Memphis is the 42nd largest metropolitan area in the United States, with a population of 1,348,260 in 2017. The city is the anchor of West Tennessee and the greater Mid-South region, which includes portions of neighboring Arkansas and Mississippi. Memphis is the seat of Shelby County, the most p...
Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia
Comments about the Cost of Living in Memphis, TN
Will the cost of food in Memphis, Tennessee impact the overall cost of living there?
Yes, cost of food is important as we all have to eat! There are ways to save money on your food expenses if you plan carefully. Check out stores like Carrefour or Metro to buy items in bulk at a considerable savings. At different times of the year you can get local produce for low prices at roadside stands or farmer’s markets. There are lots of ways to reduce food expenses and lower your overall cost of living in Memphis, TN. (2020-10-28salary.com)
I love to go to sports events, what does Memphis, Tennessee have to offer?
I love basketball. In Memphis, Tennessee I go to a lot of Memphis Grizzlies games. The tickets are expensive and add to my entertainment expenses, increasing my cost of living, but it is worth it! It is so much fun to see my favorite team in person. (2020-10-28salary.com)
What is the cost of internet and cable TV in Memphis, TN?
The average cost of internet access in the U.S. is $66.20 per month. There are many providers and various packages that are offered, many that bundle internet, cable, and phone together. Pricing for various packages can vary a lot even in the same location. You should evaluate the options based on your usage and preferences and pick the best fit for your needs. One tip to reduce this cost and your overall cost of living, is to get cable service from another source like Direct TV, Netflix, Sling, Amazon Prime or others. (2020-10-28salary.com)
Are there any tips that will help make the move to Memphis, Tennessee easier for my child?
Make sure your child has a favorite toy, doll, game, clothing, blanket, snacks, etc. to take with them during the transition. Once you arrive, let your child help with arranging and decorating their new room. You may be tempted to unpack everything when you arrive, but make sure you take a break from unpacking to spend time playing and relaxing with your child. Plan on packing a special bag to take with you with those items that you will need first. Towels, soap, a few basic kitchen utensils and food items like crackers, tea, juice, will make your new location functional as soon as you arrive and fell more like home. A small new toy, book, or video that you give to your child when you arrive might help them to feel happy and relaxed in the new location. (2020-10-28salary.com)
Is the cost of electricity in Memphis, Tennessee expected to change in the future?
The cost of electricity in Tennessee has gone down by 1.28% in the past year. It is possible that electric rates may fluctuate depending on consumption rates, government regulations and even the weather. (2020-10-28salary.com)
What kind of child care is available in Memphis, Tennessee and what is the cost?
The estimated average annual cost for child care in Memphis, Tennessee (based on state average), is $5857. This cost is ranked NO. 46 nationally. Some employers have company provided day care centers that let you bring your child to work with you and receive care on site. Some colleges and universities with Childhood Education programs also may have day care centers available at reduced costs, so you should explore those possibilities to see if you can reduce your child care expense. (2020-10-28salary.com)
Should I plan on spending a lot on rent in Memphis,TN?
In Memphis,TN, my friend pays $827 for a large 2 bedroom apartment. Since he has 2 children, he needs to have a large apartment. (2020-10-28salary.com)
Are there fun things to in Memphis, Tennessee that are free or don’t cost a lot?
Looks for areas of Memphis, Tennessee where there is a large student population. In those areas you will be sure to find lots of free or cheap events to go to and plenty of cheap places to eat. Familiarize yourself with the places where students hang out, and take advantage of discounted or bargain prices, you are sure to be able to keep your cost of living reasonable. Look at the website for Memphis, TN to find recommendations for activities that are available and unique to the area. (2020-10-28salary.com)
Will I have to pay a lot in taxes if I move to Memphis, Tennessee?
The sales tax for Memphis is 7%. This is the tax that you will pay on things that you buy. (2020-10-28salary.com)
I hate to drive in traffic, does Memphis have traffic problems?
Driving in Memphis, Tennessee is about average compared to the rest of the country. Depending on the day and time, traffic could be heavy or light. Overall, the time and ease of your driving times, ranked 57 will impact your cost of living, since driving in heavy and slow moving traffic uses a lot of gas. (2020-10-28salary.com)
What is the cost of public transit in Memphis, Tennessee?
Public transit in Memphis, TN will cost you around $50.00 per month. (2020-10-28salary.com)
Cost of Living Frequently Asked Questions
What is a Cost of Living index and how is it used?
In the simplest terms, a Cost of Living index is the estimated amount that represents the cost of the basic necessities required for an individual to live. A cost of living or COL estimate may typically include estimates for housing, food, energy, medical care, transportation, taxes, and other necessities. A COL index may be used to measure what the cost difference would be for a person living in a certain location compared to another location. This cost of living comparison helps individuals make decisions about where they would like to live and what they can afford based on the costs in that location. A cost of living comparison can provide guidance about how an increase or decrease in these basic living expenses impacts necessary spending for an individual or a family.
What factors are included in estimating your cost of living?
The Salary.com cost of living calculator estimate is based on data related to five general categories: housing, food, healthcare, transportation, and energy. These are the universally recognized core components of any cost of living estimate and represent those expenses that apply to everyone. Obviously, there may be other factors that could contribute to your particular cost of living situation and not everyone has the same spending habits. For example, education and/or childcare costs might not apply to everyone, but for those who have those expenses, they could be significant and should be considered when you evaluate your cost of living comparison.
The Salary.com cost of living calculator is unique in that it also incorporates current salary data for thousands of jobs specific to a chosen home or work location to provide a more refined estimate of the cost of living variations. You can see how your job and your salary will be impacted by a change of location. If you live in one location but work in another, the cost of living calculator will make those adjustments to provide an accurate estimate of the change in COL. The Salary.com cost of living calculator helps you to make cost of living comparisons cost comparisons easily and quickly.