Side-by-side cost of living comparison for 2026
23% cheaper
Memphis is 23% more affordable than Plano. A $75,000 salary in Plano is equivalent to $57,798 in Memphis.
Index values shown. National average = 100. Lower is cheaper.
To maintain the same standard of living:
See exact take-home pay: Tennessee salaries · Texas salaries
Housing is typically the biggest factor in any cost-of-living comparison. Memphis has a housing index of 63 while Plano sits at 123 (national average = 100). The median home in Memphis costs $155,000 compared to $400,000 in Plano, a difference of $245,000. Monthly rent follows a similar pattern: $1,000 in Memphis versus $1,700 in Plano.
Groceries and everyday expenses show a notable difference: Memphis scores 93 while Plano scores 98.
Healthcare costs in Memphis (92) are lower than Plano (100).
Median household income in Memphis is $41,228 compared to $96,348 in Plano. When adjusted for cost of living, income goes further in Memphis.
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