Memphis vs Columbia

Category-by-Category Breakdown

Index values shown. National average = 100. Lower is cheaper.

💰 Salary Equivalence

To maintain the same standard of living:

See exact take-home pay: Tennessee salaries · Maryland salaries

Living in Memphis vs Columbia

Housing is typically the biggest factor in any cost-of-living comparison. Memphis has a housing index of 63 while Columbia sits at 172 (national average = 100). The median home in Memphis costs $155,000 compared to $430,000 in Columbia, a difference of $275,000. Monthly rent follows a similar pattern: $1,000 in Memphis versus $1,900 in Columbia.

Groceries and everyday expenses show a notable difference: Memphis scores 93 while Columbia scores 104.

Healthcare costs in Memphis (92) are lower than Columbia (101).

Median household income in Memphis is $41,228 compared to $112,738 in Columbia. When adjusted for cost of living, income goes further in Memphis.

Relocating: Memphis vs Columbia

If you are considering a move between Memphis (index: 84) and Columbia (index: 132), the 36% cost difference has real implications for your budget. Memphis is the more affordable option, but the right choice depends on your income, career opportunities, and lifestyle priorities.

Housing budget reality: Using the 28% rule (spending no more than 28% of gross income on housing), the median household in Memphis can afford $962/month, while the median household in Columbia can afford $2,631/month. With median homes at $155,000 in Memphis versus $430,000 in Columbia, homeownership requires above-median income in the pricier market.

Renting vs buying: At $1,000/month in Memphis and $1,900/month in Columbia, renters save significantly in Memphis. The rent-to-own ratio in each city determines whether renting or buying offers better value for your situation.

Income adjustment: A $75,000 salary goes further in Memphis where costs are 16% below the national average. Before accepting a job in either city, use the salary equivalence data above to understand what you would need to earn to maintain your current standard of living.

Reading These Numbers: Memphis (84) vs Columbia (132)

The cost of living index uses 100 as the national average. Memphis at 84 is 16% below the US average, while Columbia at 132 is 32% above average. There is a meaningful cost gap between these two cities that affects day-to-day budgeting.

The overall index is a weighted average of housing (the largest component), groceries, utilities, transportation, and healthcare. Housing typically drives the biggest differences between cities. Even when two cities have similar overall indices, their category-level costs can vary significantly — one city might have expensive housing but cheap groceries, while another is the reverse. Check the category breakdown above for the full picture.

For renters: With median rents of $1,000/month in Memphis and $1,900/month in Columbia, the annual rent difference is approximately $10,800. Over a 5-year period, that compounds to $54,000 in savings by choosing the more affordable city.

For homebuyers: The $275,000 difference in median home prices between Memphis and Columbia translates to roughly $16,500 per month 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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