Side-by-side cost of living comparison for 2026
16% cheaper
Memphis is 16% more affordable than Charlotte. A $75,000 salary in Charlotte is equivalent to $63,000 in Memphis.
Index values shown. National average = 100. Lower is cheaper.
To maintain the same standard of living:
See exact take-home pay: North Carolina salaries · Tennessee salaries
Housing is typically the biggest factor in any cost-of-living comparison. Charlotte has a housing index of 99 while Memphis sits at 63 (national average = 100). The median home in Charlotte costs $330,000 compared to $155,000 in Memphis, a difference of $175,000. Monthly rent follows a similar pattern: $1,500 in Charlotte versus $1,000 in Memphis.
Groceries and everyday expenses show a notable difference: Charlotte scores 101 while Memphis scores 93.
Healthcare costs in Charlotte (105) are higher than Memphis (92).
Median household income in Charlotte is $62,308 compared to $41,228 in Memphis. When adjusted for cost of living, income goes further in Memphis.
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