Side-by-side cost of living comparison for 2026
24% cheaper
Memphis is 24% more affordable than Charleston. A $75,000 salary in Charleston is equivalent to $57,273 in Memphis.
Index values shown. National average = 100. Lower is cheaper.
To maintain the same standard of living:
See exact take-home pay: South Carolina salaries · Tennessee salaries
Housing is typically the biggest factor in any cost-of-living comparison. Charleston has a housing index of 127 while Memphis sits at 63 (national average = 100). The median home in Charleston costs $380,000 compared to $155,000 in Memphis, a difference of $225,000. Monthly rent follows a similar pattern: $1,600 in Charleston versus $1,000 in Memphis.
Groceries and everyday expenses show a notable difference: Charleston scores 102 while Memphis scores 93.
Healthcare costs in Charleston (104) are higher than Memphis (92).
Median household income in Charleston is $65,872 compared to $41,228 in Memphis. When adjusted for cost of living, income goes further in Memphis.
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