Cost of living, Memphis
92.2
BEA Regional Price Parity vs US average of 100 (2024). Memphis sits about 7.8% below national prices.
BLS OEWS median, May 2025, as of May 15, 2026. BEA RPP all-items, 2024. Disclaimer
- vs US
- −7.8%
- Metro
- Memphis
- CBSA
- 32820
Memphis all-items RPP is 92.2 (2024), about 7.8% below US-average prices. A $90,000 salary at national prices maps to about $82,980 here for equal purchasing power.
Price components in Memphis
| Component | Memphis | US |
|---|---|---|
| All items | 92.2 | 100 |
| Goods | 96.2 | 100 |
| Housing (rents) | 79.8 | 100 |
| Other services | 95.4 | 100 |
BEA Regional Price Parities 2024, US = 100.
What a US-average salary buys in Memphis
| At US average | In Memphis |
|---|---|
| $60,000 | $55,320 |
| $90,000 | $82,980 |
| $150,000 | $138,300 |
Local equivalent = national salary × (92.2 ÷ 100). BEA RPP 2024.
Top wages here
FAQ
- What is the cost of living in Memphis?
- The BEA Regional Price Parity (all items, 2024) for Memphis, TN-MS-AR is 92.2, versus a US average of 100 (−7.8%).
- How is RPP different from CPI?
- CPI tracks price change over time. RPP compares price levels across places in a given year versus the national average of 100. PayByCity uses RPP for cross-metro purchasing power, including goods, housing rents, and other services components.
- How should I use this with OEWS wages?
- Pair local BLS OEWS medians (May 2025) with this RPP. A $90,000 salary at US-average prices maps to about $82,980 in Memphis for equal purchasing power.
- Does this include taxes or housing alone?
- No. All-items RPP is a broad price-level index. Component indexes show goods, rents, and other services separately, but this is not a rent quote, tax estimate, or household budget.
What this covers
Includes
- BEA Regional Price Parities (all items, goods, housing rents, other services)
- BLS OEWS median wages, percentile bands, and employment where published
- Purchasing-power math: salary × (destination RPP ÷ origin RPP)
Does not include
- Federal, state, or local income taxes
- Childcare, healthcare premiums, or leave benefits
- Job openings. OEWS employment is a published stock estimate, not hiring demand
Highest wages here
- Physicians, All Other , 950 OEWS emp. $388,960
- Chief Executives , 680 OEWS emp. $196,680
- Computer and Information Systems Managers , 1,710 OEWS emp. $161,790
- Financial Managers , 2,750 OEWS emp. $143,880
- Human Resources Managers , 760 OEWS emp. $138,560
- Lawyers , 1,670 OEWS emp. $134,440
See methodology and disclaimer.