Cost of Living: Memphis, TN vs Akron, OH (2026)

Memphis

Tennessee
68
VS

Akron

Ohio
55

Memphis is 24% more expensive than Akron.

$1,123/mo ↑ 21%
Median Rent
$930/mo ↓ 17%
$51,211/yr ↑ 5%
Median Income
$48,544/yr ↓ 5%
$157,100 ↑ 41%
Home Value
$111,200 ↓ 29%
$1,087/mo ↑ 20%
Owner Costs
$904/mo ↓ 17%
629,063
Population
189,526

Tax Comparison

0%
Income Tax
3.5%
7.0%
State Sales Tax
5.75%
0.64%
Property Tax
1.53%

Affordability

26.3%
rent-to-income
Affordability
23.0%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Akron, OH, the overall cost of living indices are 68 and 55 respectively (national median = 100). Rent is $193/month cheaper in Akron, saving renters about $2,316/year.

Median household income is $2,667/year higher in Memphis. Home values also differ significantly — the median in Memphis is $157,100 compared to $111,200 in Akron.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Ohio's 3.5% rate.

Frequently Asked Questions

Memphis vs Akron — common questions

Is Memphis or Akron cheaper to live in?
Based on our cost index, Akron is cheaper to live in with an index of 55 compared to 68 (US average = 100).
What is the rent difference between Memphis and Akron?
Median rent in Memphis is $1,123/month and in Akron it's $930/month — a difference of $193/month.
Which city has higher income, Memphis or Akron?
Median household income is $51,211 in Memphis and $48,544 in Akron. Median household income is $2,667/year higher in Memphis.
How do taxes compare between Tennessee and Ohio?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Ohio has 3.5% income tax, 5.75% sales tax, and 1.53% property tax.
Should I move to Memphis or Akron?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Akron has a cost index of 55 with rent of $930/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Akron details →

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