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Cost of Living: Miami, FL vs Memphis, TN

A data-driven comparison of housing, groceries, transportation, taxes, job market and more. See which city gives you more for your money.

28.3% Memphis, TN is cheaper overall
52.7% 52.7% cheaper housing
14.0% 14.0% cheaper groceries
Updated April 2026 · Data: Bureau of Labor Statistics, U.S. Census Bureau National average = 100

At a Glance

🏠 Housing 52.7% cheaper
Miami
148
Memphis
70
🛒 Groceries 14.0% cheaper
Miami
107
Memphis
92
🚗 Transportation 14.3% cheaper
Miami
112
Memphis
96
🏥 Healthcare 14.3% cheaper
Miami
105
Memphis
90
⚡ Utilities 4.9% cheaper
Miami
103
Memphis
98

Detailed Breakdown

Category Miami, FL Memphis, TN Difference
Overall Cost Index1208628.3% less
Housing1487052.7% less
Median 1BR Rent$2,100$95054.8% less
Median Home Price$550,000$165,00070.0% less
Groceries1079214.0% less
Transportation1129614.3% less
Healthcare1059014.3% less
Utilities103984.9% less

Tax Comparison

Tax Type Miami, FL Memphis, TN
State Income TaxNone (0%)None (0%)
State Sales Tax6.00%7.00%
Avg Property Tax Rate0.80%0.56%
Estate / Inheritance TaxNoneNone

What You'd Need to Earn

Miami, FL
$65,000
Median household income
Memphis, TN
$48,000
Median household income
✅ Good news: Income in Memphis outpaces the cost difference, so your purchasing power should hold up.

Salary Equivalent Calculator

Find out what you'd need to earn in Memphis to maintain your Miami lifestyle.

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Based on overall cost index: Miami (120) vs Memphis (86). This is an estimate for comparison purposes.

Job Market Snapshot

Unemployment Rate
Miami4.0%
Memphis4.8%
Job Growth (YoY)
Miami3.0%
Memphis1.9%
Top Industries
MiamiTourism, Finance, Real Estate
MemphisLogistics, Healthcare, Manufacturing

Quality of Life

Avg Commute
Miami30 min
Memphis24 min
Walk Score
Miami78
Memphis34
Air Quality (AQI)
Miami35
Memphis44
Avg Temperature
Miami77°F
Memphis63°F
Population
Miami449,514
Memphis633,104

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Planning Your Move?

Here are some helpful resources if you're considering relocating.

🏠 Find ApartmentsBrowse rentals in Miami and Memphis → 🚚 Get Moving QuotesCompare prices from top movers → 📈 Check Home ValuesSee real estate trends in both cities → 💼 Search JobsFind open positions in Memphis →

Compare Other Cities

Miami vs Austin → Miami vs Denver → Miami vs Nashville → Memphis vs Raleigh → Memphis vs Portland → Memphis vs Phoenix →

Frequently Asked Questions

Is Miami or Memphis cheaper to live in?+
Memphis is the more affordable option overall. The biggest difference is in housing costs, where the gap is about 52.7%. Day-to-day expenses like groceries and transportation are closer between the two cities.
How much is rent in Miami vs Memphis?+
A typical one-bedroom apartment costs around $2,100/month in Miami and $950/month in Memphis — a difference of about $1,150 per month.
Which city has lower taxes, Miami or Memphis?+
Florida has a state income tax of None (0%) and sales tax of 6.00%. Tennessee has a state income tax of None (0%) and sales tax of 7.00%. Consider all tax types together when evaluating total tax burden, as states with no income tax often compensate with higher sales or property taxes.
Can I afford to move from Miami to Memphis?+
Median household income in Miami is $65,000 compared to $48,000 in Memphis. Use the salary calculator above to see what you'd need to earn to maintain your current standard of living.
What about buying a home in Miami vs Memphis?+
The median home price in Miami is $550,000 versus $165,000 in Memphis — a difference of $385,000. Property tax rates also differ: Florida averages 0.80% while Tennessee averages 0.56%.