Cost of Living: Memphis, TN vs Fayetteville, NC (2026)

Memphis

Tennessee
68
VS

Fayetteville

North Carolina
73

Memphis is 7% cheaper than Fayetteville.

$1,123/mo ↓ 5%
Median Rent
$1,179/mo ↑ 5%
$51,211/yr ↓ 9%
Median Income
$56,395/yr ↑ 10%
$157,100 ↓ 9%
Home Value
$171,900 ↑ 9%
$1,087/mo ↓ 6%
Owner Costs
$1,156/mo ↑ 6%
629,063
Population
209,692

Tax Comparison

0%
Income Tax
4.5%
7.0%
State Sales Tax
4.75%
0.64%
Property Tax
0.8%

Affordability

26.3%
rent-to-income
Affordability
25.1%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Fayetteville, NC, the overall cost of living indices are 68 and 73 respectively (national median = 100). Rent is $56/month cheaper in Memphis, saving renters about $672/year.

Median household income is $5,184/year higher in Fayetteville. Home values also differ significantly — the median in Memphis is $157,100 compared to $171,900 in Fayetteville.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over North Carolina's 4.5% rate.

Frequently Asked Questions

Memphis vs Fayetteville — common questions

Is Memphis or Fayetteville cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 73 (US average = 100).
What is the rent difference between Memphis and Fayetteville?
Median rent in Memphis is $1,123/month and in Fayetteville it's $1,179/month — a difference of $56/month.
Which city has higher income, Memphis or Fayetteville?
Median household income is $51,211 in Memphis and $56,395 in Fayetteville. Median household income is $5,184/year higher in Fayetteville.
How do taxes compare between Tennessee and North Carolina?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. North Carolina has 4.5% income tax, 4.75% sales tax, and 0.8% property tax.
Should I move to Memphis or Fayetteville?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Fayetteville has a cost index of 73 with rent of $1,179/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Fayetteville details →

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