Last updated: September 8, 2026
Memphis remains one of the more affordable large U.S. cities, with current cost-of-living data placing it about 11% below the national average. Apartments.com reports a one-bedroom apartment averaging about $1,048 per month in September 2026, while the MIT Living Wage Calculator estimates that one adult without children needs about $43,914 a year before taxes to cover basic needs. Your actual budget can be higher if you want substantial savings, frequent dining out, debt payments, premium housing, or other discretionary spending.
Cost of Living in Memphis, TN: Quick Answer
For a single adult, housing and transportation will usually determine whether Memphis feels inexpensive or merely manageable. Use these current figures as planning benchmarks rather than guaranteed bills:
| Category | Current planning figure | How to use it |
|---|---|---|
| Overall cost of living | About 11% below the U.S. average | Broad city-to-national comparison from current cost-of-living data. |
| One-bedroom rent | About $1,048/month | September 2026 Apartments.com average; neighborhoods and building quality vary. |
| Basic utilities + broadband | About $257/month | User-reported Numbeo benchmark of $182.76 for basic utilities plus $74.50 for internet. |
| Food | About $364/month | MIT basic-needs food budget for one adult, based on $4,373 per year. |
| Transportation | About $761/month | MIT basic-needs transportation allocation for one adult, based on $9,134 per year. |
| Gasoline | About $3.84/gallon | AAA Memphis metro regular-gas average on September 8, 2026; this changes frequently. |
| Single-adult basic-needs income | $43,914/year before taxes | MIT living-wage model for one adult with no children, not a luxury or high-savings budget. |
MIT’s modeled basic expenses for one adult total about $37,443 after taxes, or roughly $3,120 per month when annual expenses are divided by 12. That includes more than rent, utilities and groceries, so it is a better basic-needs baseline than simply adding three or four household bills.
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Cost of Living Snapshot for Memphis, TN
Memphis currently costs about 11% less than the national average. RentCafe’s September 2026 data places housing about 16% below the U.S. average, utilities about 16% lower, food about 2% lower, healthcare about 18% lower, and transportation about 14% lower.
The savings are not equal across every household. A renter with a short commute can spend far less than someone with a long daily drive, high insurance costs, or childcare. Likewise, a household choosing a newer apartment in a high-demand neighborhood can pay far more than the citywide rent average.
The most useful approach is to compare the same type of number. A one-bedroom apartment average should be compared with another one-bedroom average, not with an all-property rental median. A median home sale price is also different from a standardized home-price benchmark used in some national cost-of-living indexes.
Memphis is cheaper than the U.S. average overall, but housing type, car dependence and household size can move your personal budget well above or below the citywide benchmark.
Why Do Memphis Cost-of-Living Figures Disagree?
Different sources measure different things. Apartments.com reports apartment-market averages and currently places a Memphis one-bedroom near $1,048. RentCafe reports a broader apartment average near $1,145 and also publishes standardized cost-of-living category comparisons. Redfin uses actual housing-market transactions and reported a Memphis median home sale price of $201,899 for July 2026.
Those figures should not be mixed as though they describe the same property. The MIT Living Wage Calculator is different again: it estimates what households need for basic necessities rather than reporting listing prices.
For a reliable budget, match the source to the question you are asking: use rental-market data for rent, sale data for home purchases, daily fuel data for gasoline, and MIT’s household model for basic-needs income.
Housing: Rent, Mortgage and Market Trends
Housing remains one of Memphis’s strongest affordability advantages. Apartments.com’s September 2026 rental data reports an average one-bedroom rent of about $1,048 per month, a two-bedroom at $1,087, a studio at $951, and a three-bedroom at about $1,294.
RentCafe uses a different sample and reports an average monthly apartment rent of about $1,145. Neither figure is “wrong”; they cover different datasets. When comparing neighborhoods or cities, keep the property type and source methodology consistent.
For buyers, Redfin reported a Memphis median sale price of $201,899 in July 2026, up 2.5% from a year earlier. Homes sold in about 36 days on average during that period.
You may also see home-price benchmarks above $400,000 on C2ER-based cost-of-living pages. Those standardized comparison figures are not the same as Redfin’s median sale price and should not be labeled as the city’s median transaction price.
How Much Salary Do You Need for Memphis Rent?
Using the traditional 30% rent guideline, a $1,048 one-bedroom would require about $41,920 in gross annual income for rent alone to equal 30% of pay. That is a housing-affordability calculation, not a complete comfortable-living budget.
Before signing a lease, add renter’s insurance, deposits, pet charges, parking, utilities and your actual commute. Those costs can make a seemingly affordable unit substantially more expensive.
Monthly Utilities and Internet Expenses
Utilities remain below national levels in Memphis, but your bill depends heavily on home size, insulation, weather and usage. RentCafe’s September 2026 data puts Memphis utilities about 16% below the national average and reports an average energy bill of about $166.07 per month.
For a broader planning figure, Numbeo’s June 2026 user-reported data estimates basic utilities for an 85-square-meter apartment at about $182.76 per month and broadband internet at about $74.50. Combined, that is approximately $257.26 per month.
Memphis Light, Gas and Water implemented the final 4% installment of a previously approved residential rate adjustment in January 2026. MLGW said the change was expected to add roughly $5 per month for an average residential customer.
Use $250–$300 as a practical starting range for basic utilities and internet, then replace that estimate with actual bills from the property or previous tenant whenever possible. Summer air-conditioning, winter heating and larger detached homes can push costs higher.
Grocery Prices and Dining Out Costs
Food costs in Memphis sit close to the national average rather than dramatically below it. RentCafe’s September 2026 cost index places Memphis groceries about 2% below the U.S. average, while MIT budgets $4,373 per year for food for one adult with no children.
That MIT amount works out to about $364 per month. For a household of two adults and two children, MIT’s 2026 model allocates about $12,800 per year, or roughly $1,067 per month, for food.
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Grocery Price Breakdown
Current RentCafe/C2ER benchmarks show a gallon of milk near $4.71, a dozen eggs around $4.51, a loaf of bread about $4.02, ground beef around $7.62 per pound, and potatoes about $5.25 per pound.
- Milk: about $4.71 per gallon.
- Eggs: about $4.51 per dozen.
- Bread: about $4.02 per loaf.
- Ground beef: about $7.62 per pound.
- Potatoes: about $5.25 per pound.
Your grocery spending can differ much more than the city’s 2% cost-index gap suggests. Household size, meat consumption, convenience foods, dietary requirements and store choice matter more than a small citywide index difference.
Eating Out Costs
Restaurant spending is more discretionary. Numbeo’s June 2026 user-reported data puts an inexpensive restaurant meal near $20 and a three-course mid-range dinner for two around $75 before extras such as drinks, tax and tip.
- Inexpensive restaurant meal: about $20.
- Mid-range three-course dinner for two: about $75.
- Fast-food combo meal: about $12 in the same user-reported dataset.
Because restaurant prices vary more than staple groceries, use these as planning benchmarks rather than fixed menu prices.
Budget-Friendly Meal Tips
If you want to stay close to MIT’s roughly $364 monthly single-adult food allowance, build most meals around lower-cost staples and treat restaurant spending as a separate discretionary category.
Buy frequently used grains, beans and frozen vegetables in larger quantities when the unit price is lower. Plan several meals around the same perishable ingredients to reduce waste, and compare weekly prices rather than assuming one store is always cheapest.
If you dine out regularly, create a separate restaurant budget. That keeps convenience spending from silently replacing money intended for groceries, savings or transportation.
Healthcare and Insurance Costs
Memphis healthcare costs are below the national average overall. RentCafe’s September 2026 index puts healthcare about 18% below the U.S. average.
Current C2ER-based service benchmarks are about $128.94 for a doctor visit, $103.49 for a dentist appointment, $125.13 for an optometrist visit, and $11.84 for ibuprofen.
Individual visit prices are useful comparison points, but they are not the same as your total annual healthcare cost.
MIT’s 2026 Memphis metro model allocates about $3,056 per year to medical expenses for one adult with no children, or roughly $255 per month when annualized. Its estimate incorporates broader medical spending rather than one office visit.
- Doctor visit benchmark: about $128.94.
- Dentist visit benchmark: about $103.49.
- Optometrist visit benchmark: about $125.13.
- MIT one-adult medical budget: about $3,056 per year.
Compare employer plans or marketplace coverage based on premiums, deductibles, copays, prescription coverage and provider networks. Two Memphis residents can face very different healthcare costs even when local service prices are identical.
Transportation and Commuting Expenses
Transportation is a major Memphis budget category because much of the city is car-dependent. MIT’s 2026 model allocates about $9,134 per year, or roughly $761 per month, to transportation for one adult without children.
Fuel prices need a date because they move quickly. AAA reported regular gasoline averaging about $3.84 per gallon in the Memphis metro on September 8, 2026.
Memphis has a citywide Walk Score of 35 and a Transit Score of 22, indicating that many daily trips are easier by car. However, that does not mean every neighborhood is equally car-dependent. Downtown and some central neighborhoods are substantially more walkable than the city average.
Your transportation budget should include more than gasoline:
- Auto insurance.
- Loan or lease payments.
- Fuel.
- Oil changes and routine maintenance.
- Tires and repairs.
- Registration and parking.
- Occasional rideshare or transit costs.
Before choosing a cheaper apartment farther from work, compare the rent savings with the additional fuel, mileage and commuting time. A lower rent can lose much of its advantage if it creates a long daily drive.
How Much Salary You Need to Live Comfortably
There is no single universal “comfortable salary” for Memphis because different benchmarks answer different questions.
| Benchmark | Single-adult figure | What it means |
|---|---|---|
| 30% rent guideline | About $41,920/year | Gross income needed for a $1,048 one-bedroom to equal 30% of income. It covers rent affordability only. |
| MIT living wage | $43,914/year before tax | Basic-needs income for one adult with no children. |
| Broader comfort model | About $70,000/year | Apartments.com’s current single-adult comfort estimate, which allows a broader spending profile than MIT’s basic-needs model. |
The MIT Living Wage Calculator, updated February 15, 2026, estimates a living wage of $21.11 per hour for one adult with no children in the Memphis metro. At 2,080 work hours per year, its modeled required income is $43,914 before taxes.
That should be treated as a basic-needs floor, not a promise of a highly comfortable lifestyle. If you want a larger emergency fund, aggressive retirement savings, frequent travel, premium housing, debt repayment or regular entertainment, you will need more.
How Does the Required Income Change With Children?
MIT’s Memphis estimates rise sharply when children are added because childcare, food, medical, housing and transportation costs increase.
| Household | MIT living wage | Required annual income before tax |
|---|---|---|
| 1 adult, no children | $21.11/hour | $43,914 |
| 1 adult, 1 child | $33.79/hour | $70,275 |
| 1 adult, 2 children | $42.49/hour | $88,375 |
| 1 adult, 3 children | $51.30/hour | $106,697 |
| 2 adults both working, 2 children | $23.40/hour per working adult | $97,351 combined before tax |
For additional context, the U.S. Census Bureau’s 2024 American Community Survey one-year estimate places Memphis city median household income at about $52,679. Household income is not directly interchangeable with a single-person salary, but it helps show how the city’s typical earnings compare with different household budgets.
Tennessee also has no state individual income tax on earned wages. Federal income tax and payroll taxes still apply, so compare job offers using estimated take-home pay rather than gross salary alone.
If you are comparing Memphis with another Tennessee city, you can also compare the cost of living in Nashville using the same categories.
Frequently Asked Questions
How Much Money Do You Need to Live Comfortably in Memphis, TN?
MIT estimates that one adult without children needs $43,914 a year before taxes for basic needs in the Memphis metro. That is a living-wage baseline rather than a high-comfort target. A broader consumer cost model from Apartments.com suggests around $70,000 before taxes for a single adult seeking more spending room.
What Is the Average Cost of Living in Memphis, TN?
Current cost-of-living data puts Memphis about 11% below the U.S. average. Housing, utilities, healthcare and transportation are all below national averages, while food is only modestly cheaper.
Is Memphis an Affordable Place to Live?
Yes. Memphis is relatively affordable compared with the U.S. average, especially for housing. Your personal affordability still depends on rent, household size, childcare, transportation, insurance and debt.
What Is the Average Cost of Living Expenses?
MIT’s 2026 model estimates about $37,443 in annual after-tax basic expenses for one adult without children in the Memphis metro, equivalent to roughly $3,120 per month when annualized. Its required pre-tax income for that household is $43,914.
What Is the Average Rent in Memphis, TN?
Apartments.com reports a one-bedroom apartment averaging about $1,048 per month in September 2026. RentCafe’s broader apartment-market average is about $1,145, illustrating why you should compare the same unit type and methodology when evaluating rent figures.
Conclusion
Memphis remains relatively affordable, with current data placing overall living costs about 11% below the national average. A one-bedroom averages roughly $1,048 per month in Apartments.com’s September 2026 data, while MIT estimates that one adult without children needs $43,914 before taxes to cover basic needs.
Use those figures as starting points, not guarantees. Before moving, replace citywide averages with the rent for your actual neighborhood, your insurance quote, your commute, your household’s medical costs and your real debt or savings goals. That gives you a much more reliable answer than any single “average cost of living” number.
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