You’ll save on housing, you’ll spend on groceries, and you’ll balance transportation costs—Memphis runs about 10% below the U.S. average, so your money stretches further here. A one-bedroom averages roughly $1,133/month in rent, utilities plus internet near $299, and yearly groceries around $4,217. Those numbers shape what salary you need to live comfortably, and there are a few key budget levers you’ll want to check next.

Cost of Living Snapshot for Memphis, TN

Memies offers a particularly affordable cost of living—about 10% below the national average—so you’ll stretch your dollars further here.

You’ll notice average monthly rent for a one-bedroom sits near $1,133, well under the national $1,640, and utilities run about 19% below average with energy bills around $143.68.

Transportation costs benefit from gasoline averaging $3.00 per gallon, keeping commuting expenses roughly 11% lower.

Gasoline averages about $3.00 per gallon, helping commute costs run roughly 11% below the national average.

Healthcare expenses are also favorable: a typical doctor’s visit averages $112.80, about 14% below the national rate, reducing out-of-pocket burdens.

When you build a monthly budget, factor in these lower units alongside local affordable neighborhoods that push your housing-plus-essentials costs down.

Compare those numbers to median household income to gauge savings potential and housing affordability.

This snapshot gives you clear, data-driven inputs to model budgets and decide whether Memphis aligns with your financial priorities.

Housing: Rent, Mortgage and Market Trends

Because housing costs in Memphis run considerably below national levels, you’ll find both rental and purchase options that stretch your budget further.

The average monthly rent is about $1,133 — roughly 14% below the U.S. average — and one-bedrooms typically rent for $915 while two-bedrooms average $1,037. That range keeps options affordable whether you’re single or sharing costs.

Homebuyers see a similar pattern: the median home price is near $404,407, about 14% under the national median, so your mortgage payment will often cost less than in many other metros.

Rent growth has been modest, with a 1.5% year-over-year increase and higher-end one-bedrooms reaching about $1,400 in upscale neighborhoods.

For planning, apply the 30% rule: a minimum salary near $36,660 is recommended to comfortably cover a one-bedroom’s monthly rent.

Use these figures to build a realistic housing budget and weigh renting versus buying in the current housing market.

Monthly Utilities and Internet Expenses

While utilities in Memphis run noticeably below national levels, they still make up a meaningful portion of your monthly budget: the average household utility bill is about $226.54 and adding internet — roughly $69.60 — brings the combined monthly total to about $299.37.

You’ll find monthly utilities generally cost less here — about 19% below the national average — which directly improves overall affordability. For renters, expect a lower energy burden: the average energy bill sits near $143.68, helping keep your rent-plus-utilities total manageable.

When you plan your monthly budget, include electricity, water, trash and internet expenses to avoid surprises. Providers and package options vary, so shop for bundles and check for promotional rates to reduce internet expenses and the average utility bill.

Because basic services are more affordable, you can allocate more of your income to savings or other essentials, making Memphis a practical choice if you’re focused on controlling recurring costs.

Grocery Prices and Dining Out Costs

You’ll see grocery costs in Memphis are modest — about $4,217 a year for a single adult and $9,624 for a family of four, with staples like milk at $4.67, eggs $3.47, bread $3.94 and potatoes $5.10 per pound.

Eating out is also affordable, with inexpensive meals around $17.50 and mid-tier three-course dinners near $65.

Use the grocery breakdown to plan weekly budgets and favor staple-based, home-cooked meals to stretch your food dollars while still enjoying occasional restaurant meals.

Grocery Price Breakdown

On average, a single adult in Memphis spends about $4,217 a year on groceries while a family of four pays roughly $9,624, reflecting grocery prices that are 1.2% below the national average.

You’ll find common grocery items priced reasonably: a gallon of milk at $4.67, a dozen eggs for $3.47, and a pound of potatoes at $5.10.

Use these figures to build an average monthly budget: singles should plan about $352/month, families about $802/month for groceries.

Overall grocery prices stay slightly lower than the U.S. norm, so your food budget stretches farther here.

Dining out costs exist alongside groceries—an inexpensive meal runs about $17.50; plan accordingly when mixing groceries and occasional meals out.

Eating Out Costs

Grocery shopping will cover most of your food bill in Memphis, but eating out is affordable enough to factor into a monthly budget: an inexpensive restaurant meal averages about $17.50, and a mid-range three-course dinner for two runs near $65.

You’ll find grocery prices about 1.2% below the national average, with annual groceries roughly $4,217 for one person and $9,624 for a family of four. Eating out costs remain reasonable, so dining out can be an occasional convenience without blowing your average cost of living.

• Typical grocery items: milk $4.67/gal, eggs $3.47/dozen, bread $3.94.
• Inexpensive meal: ~$17.50.
• Mid-range dinner for two: ~$65.

These figures help you plan food cost reliably.

Budget-Friendly Meal Tips

While Memphis food costs run about 1% below the U.S. average, you can stretch your grocery and dining budget further by combining staple buying habits with occasional affordable takeout: a single adult spends roughly $4,217 yearly on groceries (a family of four about $9,624).

Basic items like milk and eggs cost about $4.67/gal and $3.47/dozen, an inexpensive restaurant meal averages $17.50, and a mid-range three-course dinner for two is near $65—so plan bulk purchases of staples, pick low-cost recipes around those prices, and reserve dining out for budgeted treats.

To lower your average monthly grocery cost, buy grains, beans, and frozen vegetables in bulk, cook intentionally, and use dining out as an occasional convenience that fits your household income in Memphis and overall living expenses.

Healthcare and Insurance Costs

Healthcare in Memphis is particularly affordable: a typical doctor’s visit runs about $112.80, dental appointments average $97.80, and optometry check-ups cost roughly $83.95—figures that put local healthcare around 14% below the national average.

Healthcare in Memphis stays affordable — doctor, dental, and eye visits run well below national averages.

You’ll find that overall healthcare costs stay lower here, which helps reduce monthly budget pressure whether you use insurance or pay out-of-pocket. Prescription medication for common over-the-counter items, like ibuprofen, averages $10.97, keeping routine treatments inexpensive.

• Expect a doctor’s visit near $112.80, making primary care accessible without high copays.
• A dentist appointment around $97.80 means more affordable preventive dental care.
• Optometry check-ups at roughly $83.95 keep eye care costs modest compared with many cities.

You should still compare insurance plans for coverage, deductibles, and provider networks, but the baseline service prices make Memphis a cost-effective place to manage routine medical needs.

Transportation and Commuting Expenses

After you’ve accounted for lower medical and insurance costs, you’ll want to focus on transportation, which is a major monthly line item in Memphis.

You should plan around average annual transportation costs of about $10,113 for single adults and $14,743 for families of four. Those figures reflect fuel, maintenance, insurance and commuting expenses you’ll face.

Gasoline prices average $3.00 per gallon in Memphis, roughly 11.4% below the national average, so fuel will be a modest advantage.

Still, Memphis’s walk score (35) and transit score (22) show limited public transport options, so car ownership is strongly recommended for predictable commuting.

Budget for routine vehicle maintenance expenses—simple services like tire balancing run about $53.33—and for unexpected repairs.

Factor in commute distance and frequency when estimating monthly costs, and compare owning vs. occasional rideshare use to control total transportation spending.

How Much Salary You Need to Live Comfortably

How much will you need to earn to live comfortably in Memphis?

To live comfortably in Memphis you should target at least $54,756 before taxes — that follows the 30% rule for housing and reflects the salary do I need question for a single adult.

That’s higher than the living wage estimate of $20.60/hour (~$42,848 annually) and slightly above the city’s median household income of $51,211, showing a gap against the overall cost of living.

• Renting a one-bedroom in Memphis typically needs about $36,660 yearly to be affordable under standard guidelines.
• Families face higher costs: married couples with kids under 6 average $6,901/month; with kids 6–17, about $7,945/month.

If you want to truly live comfortably in Memphis, plan for at least $54–55k solo, more for dependents, and compare offers to the median household income to assess affordability.

Frequently Asked Questions

How Much Money Do You Need to Live Comfortably in Memphis, TN?

You’ll need about $54,756 annually to live comfortably in Memphis. Account for income requirements, housing options (≈$1,133 rent), utility expenses, transportation costs, food budgeting, and entertainment expenses to balance your monthly budget.

What Is the Average Cost of Living in Memphis, TN?

You’ll pay about 10% less than the U.S. average in Memphis: cost breakdown shows cheaper housing market (one-bed ~$1,133), lower utility expenses, transportation costs, modest food prices, and competitive healthcare rates.

Is Memphis an Affordable Place to Live?

Yes — you’ll find Memphis housing, Memphis transportation, Memphis groceries, Memphis utilities, Memphis entertainment, and Memphis healthcare generally cost less than national averages, so you’ll stretch your budget more here thanks to lower rents, bills, and medical expenses.

What Is the Average Cost of Living Expenses?

You’ll pay roughly $1,133 rent, $299 utility bills, modest grocery prices, about $3.00/gal transportation costs, lower healthcare expenses, plus an entertainment budget and occasional education fees—total monthly living costs near $1,800–2,200.

Conclusion

You’ll find Memphis affordable — about 10% below the national average — so your money stretches further. With average rent around $1,133, utilities and internet roughly $299.37 monthly, and groceries about $4,217 yearly, aim for an annual income near $54,756 to follow the 30% housing rule and stay financially stable. Think of it like budgeting with a pocket watch: practical, data-driven choices keep you comfortable and ready for local opportunities.