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Cost of Living: Raleigh, NC 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.

12.2% Memphis, TN is cheaper overall
32.7% 32.7% cheaper housing
5.2% 5.2% cheaper groceries
Updated April 2026 · Data: Bureau of Labor Statistics, U.S. Census Bureau National average = 100

At a Glance

🏠 Housing 32.7% cheaper
Raleigh
104
Memphis
70
🛒 Groceries 5.2% cheaper
Raleigh
97
Memphis
92
🚗 Transportation ~Same
Raleigh
96
Memphis
96
🏥 Healthcare 10.0% cheaper
Raleigh
100
Memphis
90
⚡ Utilities ~Same
Raleigh
98
Memphis
98

Detailed Breakdown

Category Raleigh, NC Memphis, TN Difference
Overall Cost Index988612.2% less
Housing1047032.7% less
Median 1BR Rent$1,350$95029.6% less
Median Home Price$385,000$165,00057.1% less
Groceries97925.2% less
Transportation9696~Same
Healthcare1009010.0% less
Utilities9898~Same

Tax Comparison

Tax Type Raleigh, NC Memphis, TN
State Income Tax4.50%None (0%)
State Sales Tax4.75%7.00%
Avg Property Tax Rate0.70%0.56%
Estate / Inheritance TaxNoneNone

What You'd Need to Earn

Raleigh, NC
$78,000
Median household income
Memphis, TN
$48,000
Median household income
⚠️ Heads up: Memphis costs more but median income is lower. You may need to earn more to maintain the same standard of living.

Salary Equivalent Calculator

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

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Based on overall cost index: Raleigh (98) vs Memphis (86). This is an estimate for comparison purposes.

Job Market Snapshot

Unemployment Rate
Raleigh3.1%
Memphis4.8%
Job Growth (YoY)
Raleigh3.9%
Memphis1.9%
Top Industries
RaleighTech, Biotech, Education
MemphisLogistics, Healthcare, Manufacturing

Quality of Life

Avg Commute
Raleigh24 min
Memphis24 min
Walk Score
Raleigh30
Memphis34
Air Quality (AQI)
Raleigh35
Memphis44
Avg Temperature
Raleigh60°F
Memphis63°F
Population
Raleigh469,698
Memphis633,104

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Planning Your Move?

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

🏠 Find ApartmentsBrowse rentals in Raleigh 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

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

Frequently Asked Questions

Is Raleigh 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 32.7%. Day-to-day expenses like groceries and transportation are closer between the two cities.
How much is rent in Raleigh vs Memphis?+
A typical one-bedroom apartment costs around $1,350/month in Raleigh and $950/month in Memphis — a difference of about $400 per month.
Which city has lower taxes, Raleigh or Memphis?+
North Carolina has a state income tax of 4.50% and sales tax of 4.75%. 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 Raleigh to Memphis?+
Median household income in Raleigh is $78,000 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 Raleigh vs Memphis?+
The median home price in Raleigh is $385,000 versus $165,000 in Memphis — a difference of $220,000. Property tax rates also differ: North Carolina averages 0.70% while Tennessee averages 0.56%.