Cost of Living: Memphis, TN vs Honolulu, HI (2026)

Memphis

Tennessee
68
VS

Honolulu

Hawaii
175

Memphis is 61% cheaper than Honolulu.

$1,123/mo ↓ 37%
Median Rent
$1,783/mo ↑ 59%
$51,211/yr ↓ 40%
Median Income
$85,428/yr ↑ 67%
$157,100 ↓ 81%
Home Value
$834,100 ↑ 431%
$1,087/mo ↓ 40%
Owner Costs
$1,809/mo ↑ 66%
629,063
Population
346,323

Tax Comparison

0%
Income Tax
11.0%
7.0%
State Sales Tax
4.0%
0.64%
Property Tax
0.32%

Affordability

26.3%
rent-to-income
Affordability
25.0%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Honolulu, HI, the overall cost of living indices are 68 and 175 respectively (national median = 100). Rent is $660/month cheaper in Memphis, saving renters about $7,920/year.

Median household income is $34,217/year higher in Honolulu. Home values also differ significantly — the median in Memphis is $157,100 compared to $834,100 in Honolulu.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Hawaii's 11.0% rate.

Frequently Asked Questions

Memphis vs Honolulu — common questions

Is Memphis or Honolulu cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 175 (US average = 100).
What is the rent difference between Memphis and Honolulu?
Median rent in Memphis is $1,123/month and in Honolulu it's $1,783/month — a difference of $660/month.
Which city has higher income, Memphis or Honolulu?
Median household income is $51,211 in Memphis and $85,428 in Honolulu. Median household income is $34,217/year higher in Honolulu.
How do taxes compare between Tennessee and Hawaii?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Hawaii has 11.0% income tax, 4.0% sales tax, and 0.32% property tax.
Should I move to Memphis or Honolulu?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Honolulu has a cost index of 175 with rent of $1,783/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Honolulu details →

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