Cost of Living: Memphis, TN vs Cincinnati, OH (2026)

Memphis

Tennessee
68
VS

Cincinnati

Ohio
69

Memphis and Cincinnati have a similar cost of living.

$1,123/mo ↑ 18%
Median Rent
$953/mo ↓ 15%
$51,211/yr ≈ Same
Median Income
$51,707/yr ≈ Same
$157,100 ↓ 27%
Home Value
$215,300 ↑ 37%
$1,087/mo ↑ 4%
Owner Costs
$1,041/mo ↓ 4%
629,063
Population
309,595

Tax Comparison

0%
Income Tax
3.5%
7.0%
State Sales Tax
5.75%
0.64%
Property Tax
1.53%

Affordability

26.3%
rent-to-income
Affordability
22.1%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Cincinnati, OH, the overall cost of living indices are 68 and 69 respectively (national median = 100). Rent is $170/month cheaper in Cincinnati, saving renters about $2,040/year.

Median household income is $496/year higher in Cincinnati. Home values also differ significantly — the median in Memphis is $157,100 compared to $215,300 in Cincinnati.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Ohio's 3.5% rate.

Frequently Asked Questions

Memphis vs Cincinnati — common questions

Is Memphis or Cincinnati cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 69 (US average = 100).
What is the rent difference between Memphis and Cincinnati?
Median rent in Memphis is $1,123/month and in Cincinnati it's $953/month — a difference of $170/month.
Which city has higher income, Memphis or Cincinnati?
Median household income is $51,211 in Memphis and $51,707 in Cincinnati. Median household income is $496/year higher in Cincinnati.
How do taxes compare between Tennessee and Ohio?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Ohio has 3.5% income tax, 5.75% sales tax, and 1.53% property tax.
Should I move to Memphis or Cincinnati?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Cincinnati has a cost index of 69 with rent of $953/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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