Memphis vs St. Paul
Side-by-side cost of living comparison for 2026
Memphis
St. Paul
💡 The Verdict
16% cheaper
Memphis is 16% more affordable than St. Paul. A $75,000 salary in St. Paul is equivalent to $63,000 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 · Minnesota salaries
Living in Memphis vs St. Paul
Housing is typically the biggest factor in any cost-of-living comparison. Memphis has a housing index of 63 while St. Paul sits at 98 (national average = 100). The median home in Memphis costs $155,000 compared to $260,000 in St. Paul, a difference of $105,000. Monthly rent follows a similar pattern: $1,000 in Memphis versus $1,300 in St. Paul.
Groceries and everyday expenses show a notable difference: Memphis scores 93 while St. Paul scores 103.
Healthcare costs in Memphis (92) are lower than St. Paul (105).
Median household income in Memphis is $41,228 compared to $57,718 in St. Paul. When adjusted for cost of living, income goes further in Memphis.
Relocating: Memphis vs St. Paul
If you are considering a move between Memphis (index: 84) and St. Paul (index: 100), the 16% 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 St. Paul can afford $1,347/month. With median homes at $155,000 in Memphis versus $260,000 in St. Paul, both cities offer reasonable homeownership opportunities at median income.
Renting vs buying: At $1,000/month in Memphis and $1,300/month in St. Paul, 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 St. Paul (100)
The cost of living index uses 100 as the national average. Memphis at 84 is 16% below the US average, while St. Paul at 100 is 0% below average. There is a meaningful cost gap between these two cities that affects day-to-day budgeting.
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 $1,300/month in St. Paul, the annual rent difference is approximately $3,600. Over a 5-year period, that compounds to $18,000 in savings by choosing the more affordable city.
For homebuyers: The $105,000 difference in median home prices between Memphis and St. Paul translates to roughly $6,300 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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