Memphis vs 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 $95,536 in Springfield.

Conversely, $75,000 in Springfield equals $58,879 in Memphis.

Living in Memphis vs Springfield

Housing Costs

Memphis's housing index of 63 is lower Springfield's 116, translating to median home prices of $155,000 vs $378,000. The $223,000 difference in home prices means roughly $14,496 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,000/mo in Memphis compared to $1,150/mo in Springfield, a monthly difference of $150.

Grocery & Food Costs

Grocery expenses index at 93 in Memphis and 101 in Springfield. A household spending the national average of $475/month on groceries would pay approximately $442/month in Memphis vs $480/month in Springfield. Memphis offers a meaningful advantage on everyday food costs, saving roughly $456/year.

Utility Expenses

Utility costs — electricity, gas, water, internet — index at 88 in Memphis and 96 in Springfield. Monthly utility bills average approximately $352 in Memphis vs $384 in Springfield. Utility costs are relatively comparable between these two cities.

Healthcare

Healthcare costs index at 92 in Memphis and 102 in Springfield. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 10-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.

Income & Purchasing Power

Median household income is $41,228 in Memphis and $57,600 in Springfield. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $49,081 and $53,832 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 $1,344/month in Springfield. In Memphis, median rent of $1,000/mo exceeds this threshold, suggesting renters may feel stretched. In Springfield, median rent of $1,150/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 53 index points — focus your budget analysis there.

Frequently Asked Questions

Moving & Relocation Resources

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