Cost of Living: Memphis, TN vs Albuquerque, NM (2026)

Memphis

Tennessee
68
VS

Albuquerque

New Mexico
80

Memphis is 15% cheaper than Albuquerque.

$1,123/mo ↑ 4%
Median Rent
$1,085/mo ↓ 3%
$51,211/yr ↓ 22%
Median Income
$65,604/yr ↑ 28%
$157,100 ↓ 41%
Home Value
$266,700 ↑ 70%
$1,087/mo ↓ 5%
Owner Costs
$1,149/mo ↑ 6%
629,063
Population
562,488

Tax Comparison

0%
Income Tax
5.9%
7.0%
State Sales Tax
5.0%
0.64%
Property Tax
0.67%

Affordability

26.3%
rent-to-income
Affordability
19.8%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Albuquerque, NM, the overall cost of living indices are 68 and 80 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $14,393/year higher in Albuquerque. Home values also differ significantly — the median in Memphis is $157,100 compared to $266,700 in Albuquerque.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over New Mexico's 5.9% rate.

Frequently Asked Questions

Memphis vs Albuquerque — common questions

Is Memphis or Albuquerque cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 80 (US average = 100).
What is the rent difference between Memphis and Albuquerque?
Median rent in Memphis is $1,123/month and in Albuquerque it's $1,085/month — a difference of $38/month.
Which city has higher income, Memphis or Albuquerque?
Median household income is $51,211 in Memphis and $65,604 in Albuquerque. Median household income is $14,393/year higher in Albuquerque.
How do taxes compare between Tennessee and New Mexico?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. New Mexico has 5.9% income tax, 5.0% sales tax, and 0.67% property tax.
Should I move to Memphis or Albuquerque?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Albuquerque has a cost index of 80 with rent of $1,085/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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