Memphis vs Oklahoma City
Side-by-side cost of living comparison for 2026
Memphis
Oklahoma City
💡 The Verdict
3% cheaper
Memphis is 3% more affordable than Oklahoma City. A $75,000 salary in Oklahoma City is equivalent to $72,414 in Memphis.
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 · Oklahoma salaries
Living in Memphis vs Oklahoma City
Housing is typically the biggest factor in any cost-of-living comparison. Memphis has a housing index of 63 while Oklahoma City sits at 68 (national average = 100). The median home in Memphis costs $155,000 compared to $195,000 in Oklahoma City, a difference of $40,000. Monthly rent follows a similar pattern: $1,000 in Memphis versus $1,000 in Oklahoma City.
Groceries and everyday expenses show a narrower gap: Memphis scores 93 while Oklahoma City scores 95.
Healthcare costs in Memphis (92) match Oklahoma City (92).
Median household income in Memphis is $41,228 compared to $55,458 in Oklahoma City. When adjusted for cost of living, income goes further in Memphis.
Relocating: Memphis vs Oklahoma City
If you are considering a move between Memphis (index: 84) and Oklahoma City (index: 87), the 3% 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 Oklahoma City can afford $1,294/month. With median homes at $155,000 in Memphis versus $195,000 in Oklahoma City, both cities offer reasonable homeownership opportunities at median income.
Renting vs buying: At $1,000/month in Memphis and $1,000/month in Oklahoma City, 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 Oklahoma City (87)
The cost of living index uses 100 as the national average. Memphis at 84 is 16% below the US average, while Oklahoma City at 87 is 13% below average. Both cities are relatively affordable compared to the national average.
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 $1,000/month in Oklahoma City, the annual rent difference is approximately $0. Over a 5-year period, that compounds to $0 in savings by choosing the more affordable city.
For homebuyers: The $40,000 difference in median home prices between Memphis and Oklahoma City translates to roughly $2,400 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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