Cost of Living: Memphis, TN vs Baltimore, MD 2026

$1,123/mo ↓ 13%

Median Rent

$1,290/mo ↑ 15%

$51,211/yr ↓ 14%

Median Income

$59,623/yr ↑ 16%

$157,100 ↓ 28%

Home Value

$219,300 ↑ 40%

$1,087/mo ↓ 18%

Owner Costs

$1,333/mo ↑ 23%

629,063

Population

577,193

Detailed Comparison

When comparing Memphis, TN and Baltimore, MD, the overall cost of living indices are 68 and 84 respectively (national median = 100). Rent is $167/month cheaper in Memphis, saving renters about $2,004/year.

Median household income is $8,412/year higher in Baltimore. Home values also differ significantly — the median in Memphis is $157,100 compared to $219,300 in Baltimore.

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

Frequently Asked Questions

Memphis vs Baltimore — common questions

Is Memphis or Baltimore cheaper to live in?

Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 84 (US average = 100).

What is the rent difference between Memphis and Baltimore?

Median rent in Memphis is $1,123/month and in Baltimore it's $1,290/month — a difference of $167/month.

Which city has higher income, Memphis or Baltimore?

Median household income is $51,211 in Memphis and $59,623 in Baltimore. Median household income is $8,412/year higher in Baltimore.

How do taxes compare between Tennessee and Maryland?

Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Maryland has 5.75% income tax, 6.0% sales tax, and 1.07% property tax.

Should I move to Memphis or Baltimore?

It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Baltimore has a cost index of 84 with rent of $1,290/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.

Cost of Living: Memphis, TN vs Baltimore, MD (2026)

Memphis

Baltimore

Tax Comparison

Affordability

Detailed Comparison

Frequently Asked Questions