Big city benefits without the price tag
One of the most attractive features of life in Memphis is a remarkably low cost of living. From the price of dinner to the cost to heat and cool your home, the price of daily life in Memphis makes a lesser dent in your disposable income than it would in other cities, along with the fact that Tennessee is one of the lowest-taxed states per capita in the nation.
Memphis Light, Gas and Water customers pay the lowest utility bills, including electricity, natural gas, water and wastewater in the nation, according to a 2018 survey of 55 utility providers. 2018 data is available here.
Memphis benefits from all of the amenities that come with being the 23rd-largest city in the U.S. with a cost of living more than 15% below the national average. For the majority of residents, that means more money for travel, leisure, and saving for a rainy day.
It also means more money to live comfortably as some people come to Memphis because they are struggling on their current budget. If you are thinking of moving to Memphis for this reason do be aware that your ability to rent or switch utilities may be affected if you have a history of missing bills on your credit score. If you are unsure of your credit rating you can use a service like credit sesame (see this credit sesame reviews article for more information) to check at no extra cost.
Cost of Living Calculator
Compare the cost of living in Memphis with cities around the United States. Choose comparison cities and view estimates based on national averages provided by the C2ER Cost Of Living Index.