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

Dallas

Texas
97
VS

Memphis

Tennessee
68

Dallas is 43% more expensive than Memphis.

$1,403/mo ↑ 25%
Median Rent
$1,123/mo ↓ 20%
$67,760/yr ↑ 32%
Median Income
$51,211/yr ↓ 24%
$295,300 ↑ 88%
Home Value
$157,100 ↓ 47%
$1,409/mo ↑ 30%
Owner Costs
$1,087/mo ↓ 23%
1,299,553
Population
629,063

Tax Comparison

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

Affordability

24.8%
rent-to-income
Affordability
26.3%
rent-to-income

Detailed Comparison

When comparing Dallas, TX and Memphis, TN, the overall cost of living indices are 97 and 68 respectively (national median = 100). Rent is $280/month cheaper in Memphis, saving renters about $3,360/year.

Median household income is $16,549/year higher in Dallas. Home values also differ significantly — the median in Dallas is $295,300 compared to $157,100 in Memphis.

Frequently Asked Questions

Dallas vs Memphis — common questions

Is Dallas or Memphis cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 97 (US average = 100).
What is the rent difference between Dallas and Memphis?
Median rent in Dallas is $1,403/month and in Memphis it's $1,123/month — a difference of $280/month.
Which city has higher income, Dallas or Memphis?
Median household income is $67,760 in Dallas and $51,211 in Memphis. Median household income is $16,549/year higher in Dallas.
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 Dallas or Memphis?
It depends on your priorities. Dallas has a cost index of 97 with median rent of $1,403/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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