Memphis vs Springfield
Cost of Living Comparison · 2026
Memphis
Springfield
The Verdict
Living in Springfield costs 7.7% less than Memphis. To match the purchasing power of a $75,000 salary in Memphis, you would need $69,643 in Springfield.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Memphis has the same purchasing power as $69,643 in Springfield.
Conversely, $75,000 in Springfield equals $80,769 in Memphis.
Living in Memphis vs Springfield
Housing Costs
Memphis's housing index of 63 is higher Springfield's 52, translating to median home prices of $155,000 vs $162,000. The $7,000 difference in home prices means roughly $456 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,000/mo in Memphis compared to $925/mo in Springfield, a monthly difference of $75.
Grocery & Food Costs
Grocery expenses index at 93 in Memphis and 98 in Springfield. A household spending the national average of $475/month on groceries would pay approximately $442/month in Memphis vs $466/month in Springfield. The difference in grocery costs between these cities is relatively minor and unlikely to be a deciding factor in relocation.
Utility Expenses
Utility costs — electricity, gas, water, internet — index at 88 in Memphis and 98 in Springfield. Monthly utility bills average approximately $352 in Memphis vs $392 in Springfield. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 92 in Memphis and 91 in Springfield. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. Healthcare costs are relatively similar between these two cities, though individual plan costs can still vary.
Income & Purchasing Power
Median household income is $41,228 in Memphis and $65,500 in Springfield. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $49,081 and $83,974 respectively. Springfield residents come out ahead in real purchasing power.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $962/month to housing in Memphis vs $1,528/month in Springfield. In Memphis, median rent of $1,000/mo exceeds this threshold, suggesting renters may feel stretched. In Springfield, median rent of $925/mo remains manageable. The biggest category-level difference between these two cities is Transportation, where the gap is 16 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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