Cost of Living: Memphis, TN vs Gainesville, FL (2026)

Memphis

Tennessee
68
VS

Gainesville

Florida
81

Memphis is 16% cheaper than Gainesville.

$1,123/mo ↓ 7%
Median Rent
$1,214/mo ↑ 8%
$51,211/yr ↑ 12%
Median Income
$45,611/yr ↓ 11%
$157,100 ↓ 33%
Home Value
$235,000 ↑ 50%
$1,087/mo ↓ 7%
Owner Costs
$1,167/mo ↑ 7%
629,063
Population
143,611

Tax Comparison

0%
Income Tax
0%
7.0%
State Sales Tax
6.0%
0.64%
Property Tax
0.86%

Affordability

26.3%
rent-to-income
Affordability
31.9%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Gainesville, FL, the overall cost of living indices are 68 and 81 respectively (national median = 100). Rent is $91/month cheaper in Memphis, saving renters about $1,092/year.

Median household income is $5,600/year higher in Memphis. Home values also differ significantly — the median in Memphis is $157,100 compared to $235,000 in Gainesville.

Frequently Asked Questions

Memphis vs Gainesville — common questions

Is Memphis or Gainesville cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 81 (US average = 100).
What is the rent difference between Memphis and Gainesville?
Median rent in Memphis is $1,123/month and in Gainesville it's $1,214/month — a difference of $91/month.
Which city has higher income, Memphis or Gainesville?
Median household income is $51,211 in Memphis and $45,611 in Gainesville. Median household income is $5,600/year higher in Memphis.
How do taxes compare between Tennessee and Florida?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax.
Should I move to Memphis or Gainesville?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Gainesville has a cost index of 81 with rent of $1,214/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Gainesville details →

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