Side-by-side cost of living comparison for 2026
7% cheaper
Memphis is 7% more affordable than St. Louis. A $75,000 salary in St. Louis is equivalent to $70,000 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 · Missouri salaries
Housing is typically the biggest factor in any cost-of-living comparison. Memphis has a housing index of 63 while St. Louis sits at 72 (national average = 100). The median home in Memphis costs $155,000 compared to $175,000 in St. Louis, a difference of $20,000. Monthly rent follows a similar pattern: $1,000 in Memphis versus $1,000 in St. Louis.
Groceries and everyday expenses show a narrower gap: Memphis scores 93 while St. Louis scores 97.
Healthcare costs in Memphis (92) are lower than St. Louis (95).
Median household income in Memphis is $41,228 compared to $45,782 in St. Louis. When adjusted for cost of living, income goes further in Memphis.
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