Cost of Living: Austin, TX vs Memphis, TN (2026)

Austin

Texas
134
VS

Memphis

Tennessee
68

Austin is 97% more expensive than Memphis.

$1,655/mo ↑ 47%
Median Rent
$1,123/mo ↓ 32%
$91,461/yr ↑ 79%
Median Income
$51,211/yr ↓ 44%
$512,700 ↑ 226%
Home Value
$157,100 ↓ 69%
$1,747/mo ↑ 61%
Owner Costs
$1,087/mo ↓ 38%
967,862
Population
629,063

Tax Comparison

0%
Income Tax
0%
6.25%
State Sales Tax
7.0%
1.6%
Property Tax
0.64%

Affordability

21.7%
rent-to-income
Affordability
26.3%
rent-to-income

Detailed Comparison

When comparing Austin, TX and Memphis, TN, the overall cost of living indices are 134 and 68 respectively (national median = 100). Rent is $532/month cheaper in Memphis, saving renters about $6,384/year.

Median household income is $40,250/year higher in Austin. Home values also differ significantly — the median in Austin is $512,700 compared to $157,100 in Memphis.

Frequently Asked Questions

Austin vs Memphis — common questions

Is Austin or Memphis cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 134 (US average = 100).
What is the rent difference between Austin and Memphis?
Median rent in Austin is $1,655/month and in Memphis it's $1,123/month — a difference of $532/month.
Which city has higher income, Austin or Memphis?
Median household income is $91,461 in Austin and $51,211 in Memphis. Median household income is $40,250/year higher in Austin.
How do taxes compare between Texas and Tennessee?
Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax. Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax.
Should I move to Austin or Memphis?
It depends on your priorities. Austin has a cost index of 134 with median rent of $1,655/mo, while Memphis has a cost index of 68 with rent of $1,123/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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