Canton vs Memphis
Cost of Living Comparison · 2026 Data
Canton
Memphis
💡 The Verdict
Memphis is 5% cheaper than Canton overall. A $75,000 salary in Canton is equivalent to $71,591 in Memphis.
Category-by-Category Breakdown
Index values for Canton (left) vs Memphis (right). National average = 100.
Detailed Price Comparison
Estimated item-level prices in Canton versus Memphis. Differences shown from Canton perspective.
| Item | Canton | Memphis | Difference |
|---|---|---|---|
| 1-Bed Rent | $870/mo | $720/mo | +$150.00 |
| 2-Bed Rent | $1,230/mo | $1,000/mo | +$230.00 |
| 3-Bed Rent | $1,630/mo | $1,300/mo | +$330.00 |
| Bread (loaf) | $2.73 | $2.40 | +$0.33 |
| Milk (gallon) | $2.98 | $3.74 | $-0.76 |
| Eggs (dozen) | $2.91 | $3.05 | $-0.14 |
| Coffee (latte) | $5.31 | $5.47 | $-0.16 |
| Gas (gallon) | $2.98 | $3.29 | $-0.31 |
| Restaurant Meal | $15.90 | $13.90 | +$2.00 |
💰 Salary Equivalence
A $75,000 salary in Canton has the same purchasing power as $71,591 in Memphis.
Conversely, $75,000 in Memphis equals $78,571 in Canton.
💼 Take-Home Pay Comparison
Estimated annual take-home pay on a $75,000 salary after federal, FICA, and state income taxes.
The $2626 difference is driven by Ohio having a higher state income tax rate. Ohio details → · Tennessee details →
Reading These Numbers: Canton (88) vs Memphis (84)
Canton at 88 is 12% below the US average, while Memphis at 84 is 16% below average. The cost difference between these cities is relatively modest.
In Canton, the composite index of 88 reflects a weighted calculation where housing carries the most influence at 89, followed by groceries (91), utilities (85), transportation (82), and healthcare (81). Costs are fairly balanced across categories.
For renters: With median rents of $1,230/mo in Canton and $1,000/mo in Memphis, the annual rent difference is approximately $2,760.0. Over a 5-year period, that compounds to $13,800.0 in savings by choosing the more affordable city.
For homebuyers: The $143,000.0 difference in median home prices between Canton and Memphis translates to meaningful differences in mortgage payments at current rates. Factor this into your budget alongside property taxes and insurance, which also vary by location.
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Making Your Decision: Canton vs Memphis
Choosing between Canton and Memphis involves more than just comparing index numbers. Consider how each category aligns with your personal spending patterns. If you work from home, transportation costs matter less than housing and utilities. If you eat out frequently, the groceries index may understate your actual food spending — look at the restaurant meal prices in the detailed comparison table above instead.
Beyond the numbers shown above, quality of life differences between Canton and Memphis can meaningfully affect your financial picture in ways the index does not capture. Commute time translates to fuel costs and vehicle depreciation. Climate affects utility bills seasonally. Access to public parks and free cultural venues reduces entertainment spending. Consider these secondary financial effects alongside the direct cost comparisons when making your final decision.