Memphis vs Billings

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 · Montana salaries

Living in Memphis vs Billings

Housing is typically the biggest factor in any cost-of-living comparison. Memphis has a housing index of 63 while Billings sits at 93 (national average = 100). The median home in Memphis costs $155,000 compared to $310,000 in Billings, a difference of $155,000. Monthly rent follows a similar pattern: $1,000 in Memphis versus $1,200 in Billings.

Groceries and everyday expenses show a notable difference: Memphis scores 93 while Billings scores 99.

Healthcare costs in Memphis (92) are lower than Billings (102).

Median household income in Memphis is $41,228 compared to $55,438 in Billings. When adjusted for cost of living, income goes further in Memphis.

Relocating: Memphis vs Billings

If you are considering a move between Memphis (index: 84) and Billings (index: 98), the 14% 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 Billings can afford $1,294/month. With median homes at $155,000 in Memphis versus $310,000 in Billings, both cities offer reasonable homeownership opportunities at median income.

Renting vs buying: At $1,000/month in Memphis and $1,200/month in Billings, 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 Billings (98)

The cost of living index uses 100 as the national average. Memphis at 84 is 16% below the US average, while Billings at 98 is 2% below average. There is a meaningful cost gap between these two cities that affects day-to-day budgeting.

A 14-point index spread separates Billings from Memphis, a moderate gap that adds up across monthly bills but is manageable with a typical dual-income household budget. The biggest category divergence is housing, where Memphis scores 63 and Billings scores 93. That 30-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 93. Median home prices of $155,000 in Memphis and $310,000 in Billings underscore this gap.

For renters: With median rents of $1,000/month in Memphis and $1,200/month in Billings, the annual rent difference is approximately $2,400. Over a 5-year period, that compounds to $12,000 in savings by choosing the more affordable city.

For homebuyers: The $155,000 difference in median home prices between Memphis and Billings translates to roughly $9,300 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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