Cost of Living: Memphis, TN vs Evansville, IN (2026)

Memphis

Tennessee
68
VS

Evansville

Indiana
57

Memphis is 19% more expensive than Evansville.

$1,123/mo ↑ 18%
Median Rent
$949/mo ↓ 15%
$51,211/yr ↓ 2%
Median Income
$52,251/yr ↑ 2%
$157,100 ↑ 22%
Home Value
$129,100 ↓ 18%
$1,087/mo ↑ 18%
Owner Costs
$919/mo ↓ 15%
629,063
Population
116,441

Tax Comparison

0%
Income Tax
3.05%
7.0%
State Sales Tax
7.0%
0.64%
Property Tax
0.83%

Affordability

26.3%
rent-to-income
Affordability
21.8%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Evansville, IN, the overall cost of living indices are 68 and 57 respectively (national median = 100). Rent is $174/month cheaper in Evansville, saving renters about $2,088/year.

Median household income is $1,040/year higher in Evansville. Home values also differ significantly — the median in Memphis is $157,100 compared to $129,100 in Evansville.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Indiana's 3.05% rate.

Frequently Asked Questions

Memphis vs Evansville — common questions

Is Memphis or Evansville cheaper to live in?
Based on our cost index, Evansville is cheaper to live in with an index of 57 compared to 68 (US average = 100).
What is the rent difference between Memphis and Evansville?
Median rent in Memphis is $1,123/month and in Evansville it's $949/month — a difference of $174/month.
Which city has higher income, Memphis or Evansville?
Median household income is $51,211 in Memphis and $52,251 in Evansville. Median household income is $1,040/year higher in Evansville.
How do taxes compare between Tennessee and Indiana?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Indiana has 3.05% income tax, 7.0% sales tax, and 0.83% property tax.
Should I move to Memphis or Evansville?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Evansville has a cost index of 57 with rent of $949/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Evansville details →

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