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Memphis (Memphis metro) has a cost of living 21% below the US average. With no state income tax, your real purchasing power can be very different from your gross salary.
79
Cost of Living Index
US avg = 100
$1,000
Avg 1BR Rent
per month
None
State Income Tax
no state tax
-21%
vs US Average
cost of living
| Salary | Monthly Take-Home | Rent % of Income | Equivalent US Salary |
|---|---|---|---|
| $40,000 | $2,844/mo | 35% | $50,633 |
| $50,000 | $3,513/mo | 28% | $63,291 |
| $60,000 | $4,183/mo | 24% | $75,949 |
| $70,000 | $4,784/mo | 21% | $88,608 |
| $80,000 | $5,370/mo | 19% | $101,266 |
| $90,000 | $5,956/mo | 17% | $113,924 |
| $100,000 | $6,542/mo | 15% | $126,582 |
| $120,000 | $7,707/mo | 13% | $151,899 |
| $150,000 | $9,416/mo | 11% | $189,873 |
| $200,000 | $12,426/mo | 8% | $253,165 |
* Take-home estimates federal + state taxes (single filer, standard deduction). "Equivalent US Salary" = what Memphis salary buys nationally.
Is $80,000 a good salary in Memphis?
In Memphis (cost of living index: 79, US avg=100), $80,000/year has the purchasing power of $101,266 in an average US city. Your monthly take-home after federal + state taxes is approximately $5,370. The average 1-bedroom in Memphis costs around $1,000/month — that's 19% of your take-home pay.
What is the cost of living in Memphis?
Memphis's cost of living index is 79 compared to the US average of 100. This means living in Memphis is 21% cheaper than the US average. TN has no state income tax — a significant savings advantage.
What salary do you need to live comfortably in Memphis?
Using the 30% rent rule, your gross salary should be at least $52,000 to afford the average 1-bedroom in Memphis ($1,000/month) with some comfort. A household income of $63,200 or more is generally considered comfortable in Memphis.
Does Memphis have a state income tax?
No — TN has no state income tax, which is a major financial advantage. This increases your take-home pay by thousands compared to high-tax states like California or New York.
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