Cost of Living: Memphis, TN vs Buffalo, NY (2026)

Memphis

Tennessee
68
VS

Buffalo

New York
61

Memphis is 11% more expensive than Buffalo.

$1,123/mo ↑ 14%
Median Rent
$989/mo ↓ 12%
$51,211/yr ↑ 7%
Median Income
$48,050/yr ↓ 6%
$157,100 ↑ 3%
Home Value
$152,300 ↓ 3%
$1,087/mo ↑ 17%
Owner Costs
$929/mo ↓ 15%
629,063
Population
276,397

Tax Comparison

0%
Income Tax
10.9%
7.0%
State Sales Tax
4.0%
0.64%
Property Tax
1.62%

Affordability

26.3%
rent-to-income
Affordability
24.7%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Buffalo, NY, the overall cost of living indices are 68 and 61 respectively (national median = 100). Rent is $134/month cheaper in Buffalo, saving renters about $1,608/year.

Median household income is $3,161/year higher in Memphis. Home values also differ significantly — the median in Memphis is $157,100 compared to $152,300 in Buffalo.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over New York's 10.9% rate.

Frequently Asked Questions

Memphis vs Buffalo — common questions

Is Memphis or Buffalo cheaper to live in?
Based on our cost index, Buffalo is cheaper to live in with an index of 61 compared to 68 (US average = 100).
What is the rent difference between Memphis and Buffalo?
Median rent in Memphis is $1,123/month and in Buffalo it's $989/month — a difference of $134/month.
Which city has higher income, Memphis or Buffalo?
Median household income is $51,211 in Memphis and $48,050 in Buffalo. Median household income is $3,161/year higher in Memphis.
How do taxes compare between Tennessee and New York?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. New York has 10.9% income tax, 4.0% sales tax, and 1.62% property tax.
Should I move to Memphis or Buffalo?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Buffalo has a cost index of 61 with rent of $989/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Buffalo details →

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