Cost of Living: Memphis, TN vs Alexandria, VA (2026)

Memphis

Tennessee
68
VS

Alexandria

Virginia
173

Memphis is 61% cheaper than Alexandria.

$1,123/mo ↓ 45%
Median Rent
$2,031/mo ↑ 81%
$51,211/yr ↓ 55%
Median Income
$113,638/yr ↑ 122%
$157,100 ↓ 77%
Home Value
$696,800 ↑ 344%
$1,087/mo ↓ 50%
Owner Costs
$2,173/mo ↑ 100%
629,063
Population
156,788

Tax Comparison

0%
Income Tax
5.75%
7.0%
State Sales Tax
5.3%
0.64%
Property Tax
0.8%

Affordability

26.3%
rent-to-income
Affordability
21.4%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Alexandria, VA, the overall cost of living indices are 68 and 173 respectively (national median = 100). Rent is $908/month cheaper in Memphis, saving renters about $10,896/year.

Median household income is $62,427/year higher in Alexandria. Home values also differ significantly — the median in Memphis is $157,100 compared to $696,800 in Alexandria.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Virginia's 5.75% rate.

Frequently Asked Questions

Memphis vs Alexandria — common questions

Is Memphis or Alexandria cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 173 (US average = 100).
What is the rent difference between Memphis and Alexandria?
Median rent in Memphis is $1,123/month and in Alexandria it's $2,031/month — a difference of $908/month.
Which city has higher income, Memphis or Alexandria?
Median household income is $51,211 in Memphis and $113,638 in Alexandria. Median household income is $62,427/year higher in Alexandria.
How do taxes compare between Tennessee and Virginia?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.
Should I move to Memphis or Alexandria?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Alexandria has a cost index of 173 with rent of $2,031/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Alexandria details →

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