Memphis vs Baltimore

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 Baltimore

Housing is typically the biggest factor in any cost-of-living comparison. Memphis has a housing index of 63 while Baltimore sits at 107 (national average = 100). The median home in Memphis costs $155,000 compared to $200,000 in Baltimore, a difference of $45,000. Monthly rent follows a similar pattern: $1,000 in Memphis versus $1,300 in Baltimore.

Groceries and everyday expenses show a notable difference: Memphis scores 93 while Baltimore scores 103.

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

Median household income in Memphis is $41,228 compared to $52,164 in Baltimore. When adjusted for cost of living, income goes further in Memphis.

Relocating: Memphis vs Baltimore

If you are considering a move between Memphis (index: 84) and Baltimore (index: 106), the 21% 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 Baltimore can afford $1,217/month. With median homes at $155,000 in Memphis versus $200,000 in Baltimore, both cities offer reasonable homeownership opportunities at median income.

Renting vs buying: At $1,000/month in Memphis and $1,300/month in Baltimore, renters face similar costs in both cities. 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 Baltimore (106)

The cost of living index uses 100 as the national average. Memphis at 84 is 16% below the US average, while Baltimore at 106 is 6% above average. There is a meaningful cost gap between these two cities that affects day-to-day budgeting.

Baltimore costs meaningfully more than Memphis, with a 22-point composite gap that translates to real differences in rent, groceries, and daily expenses. The biggest category divergence is housing, where Memphis scores 63 and Baltimore scores 107. That 44-point gap is the primary driver of the overall cost difference between these two metros. Housing, the largest line item for most households, favors Memphis with indices of 63 versus 107. Median home prices of $155,000 in Memphis and $200,000 in Baltimore underscore this gap.

For renters: With median rents of $1,000/month in Memphis and $1,300/month in Baltimore, the annual rent difference is approximately $3,600. Over a 5-year period, that compounds to $18,000 in savings by choosing the more affordable city.

For homebuyers: The $45,000 difference in median home prices between Memphis and Baltimore translates to roughly $2,700 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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