Memphis, TN

Cost of Living in Memphis, TN (2026): Rent, Utilities & Take-Home

$2,913/mo in Memphis. $2,790 left each month. Prices 9% below the US average.

Compare vs Chicago Rank metros from MemphisHow we figure this

Monthly costs

Take-home $5,703/mo.

Taxes$1,410
Rent$1,045
Other living costs$1,868
Left over$2,790

Pay and tax, per year

Gross household pay: $85,367
Federal income tax: −$10,395
Social Security and Medicare: −$6,531
State income tax (TN): None
Take-home pay: $68,442
Effective tax rate: 19.8%

Living costs, per month

Rent, 1br: $1,045
Groceries: $364
Getting around: $548
Healthcare: $410
Utilities and internet: $228
Everything else: $319
Total spending: $2,913

Left over each month

$7,114 gross, minus $1,410 in tax and $2,913 in living costs.

$2,790

Average electric bill in Tennessee

About $119 a month for a household using 900 kWh. That is the EIA residential price for Tennessee in 2025, 13.22¢ per kWh. It is a state average, not a Memphis utility bill, and the utilities line in the monthly costs above already includes a modelled power cost.

Moving from Memphis

Memphis → Nashville · $117 less

Cost of Living in Memphis, TN (2026): Rent, Utilities & Take-Home

Monthly costs

Pay and tax, per year

Living costs, per month

Average electric bill in Tennessee

Moving from Memphis

Take-home by job in Memphis

Other Tennessee metros

Compare Memphis