Chesapeake vs Memphis
Cost of Living Comparison · 2026
Chesapeake
Memphis
The Verdict
Memphis is 23.8% less expensive than Chesapeake overall. A household earning $75,000 in Chesapeake would need approximately $60,577 in Memphis to maintain the same standard of living.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Chesapeake has the same purchasing power as $60,577 in Memphis.
Conversely, $75,000 in Memphis equals $92,857 in Chesapeake.
Living in Chesapeake vs Memphis
Housing Costs
Chesapeake's housing index of 120 is higher Memphis's 63, translating to median home prices of $385,000 vs $155,000. The $230,000 difference in home prices means roughly $14,952 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,550/mo in Chesapeake compared to $1,000/mo in Memphis, a monthly difference of $550.
Grocery & Food Costs
Grocery expenses index at 102 in Chesapeake and 93 in Memphis. A household spending the national average of $475/month on groceries would pay approximately $485/month in Chesapeake vs $442/month in Memphis. Memphis offers a meaningful advantage on everyday food costs, saving roughly $516/year.
Utility Expenses
Utility costs — electricity, gas, water, internet — index at 105 in Chesapeake and 88 in Memphis. Monthly utility bills average approximately $420 in Chesapeake vs $352 in Memphis. Climate differences between the two cities drive much of this gap, with heating and cooling costs varying substantially by region.
Healthcare
Healthcare costs index at 97 in Chesapeake and 92 in Memphis. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. Healthcare costs are relatively similar between these two cities, though individual plan costs can still vary.
Income & Purchasing Power
Median household income is $94,200 in Chesapeake and $41,228 in Memphis. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $90,577 and $49,081 respectively. Chesapeake residents enjoy stronger real purchasing power despite higher nominal wages.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $2,198/month to housing in Chesapeake vs $962/month in Memphis. In Chesapeake, median rent of $1,550/mo fits within this budget. In Memphis, median rent of $1,000/mo pushes past the recommended limit. The biggest category-level difference between these two cities is Housing, where the gap is 57 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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