Cost of Living: Memphis, TN vs Anchorage, AK (2026)

Memphis

Tennessee
68
VS

Anchorage

Alaska
113

Memphis is 40% cheaper than Anchorage.

$1,123/mo ↓ 23%
Median Rent
$1,453/mo ↑ 29%
$51,211/yr ↓ 48%
Median Income
$98,152/yr ↑ 92%
$157,100 ↓ 58%
Home Value
$375,900 ↑ 139%
$1,087/mo ↓ 36%
Owner Costs
$1,698/mo ↑ 56%
629,063
Population
289,069

Tax Comparison

0%
Income Tax
0%
7.0%
State Sales Tax
0%
0.64%
Property Tax
1.04%

Affordability

26.3%
rent-to-income
Affordability
17.8%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Anchorage, AK, the overall cost of living indices are 68 and 113 respectively (national median = 100). Rent is $330/month cheaper in Memphis, saving renters about $3,960/year.

Median household income is $46,941/year higher in Anchorage. Home values also differ significantly — the median in Memphis is $157,100 compared to $375,900 in Anchorage.

Frequently Asked Questions

Memphis vs Anchorage — common questions

Is Memphis or Anchorage cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 113 (US average = 100).
What is the rent difference between Memphis and Anchorage?
Median rent in Memphis is $1,123/month and in Anchorage it's $1,453/month — a difference of $330/month.
Which city has higher income, Memphis or Anchorage?
Median household income is $51,211 in Memphis and $98,152 in Anchorage. Median household income is $46,941/year higher in Anchorage.
How do taxes compare between Tennessee and Alaska?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Alaska has 0% income tax, 0% sales tax, and 1.04% property tax.
Should I move to Memphis or Anchorage?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Anchorage has a cost index of 113 with rent of $1,453/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Anchorage details →

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