Cost of Living: Memphis, TN vs Lakewood, CO (2026)

Memphis

Tennessee
68
VS

Lakewood

Colorado
141

Memphis is 52% cheaper than Lakewood.

$1,123/mo ↓ 36%
Median Rent
$1,746/mo ↑ 55%
$51,211/yr ↓ 40%
Median Income
$85,789/yr ↑ 68%
$157,100 ↓ 71%
Home Value
$548,200 ↑ 249%
$1,087/mo ↓ 37%
Owner Costs
$1,729/mo ↑ 59%
629,063
Population
156,309

Tax Comparison

0%
Income Tax
4.4%
7.0%
State Sales Tax
2.9%
0.64%
Property Tax
0.51%

Affordability

26.3%
rent-to-income
Affordability
24.4%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Lakewood, CO, the overall cost of living indices are 68 and 141 respectively (national median = 100). Rent is $623/month cheaper in Memphis, saving renters about $7,476/year.

Median household income is $34,578/year higher in Lakewood. Home values also differ significantly — the median in Memphis is $157,100 compared to $548,200 in Lakewood.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Colorado's 4.4% rate.

Frequently Asked Questions

Memphis vs Lakewood — common questions

Is Memphis or Lakewood cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 141 (US average = 100).
What is the rent difference between Memphis and Lakewood?
Median rent in Memphis is $1,123/month and in Lakewood it's $1,746/month — a difference of $623/month.
Which city has higher income, Memphis or Lakewood?
Median household income is $51,211 in Memphis and $85,789 in Lakewood. Median household income is $34,578/year higher in Lakewood.
How do taxes compare between Tennessee and Colorado?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax.
Should I move to Memphis or Lakewood?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Lakewood has a cost index of 141 with rent of $1,746/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Lakewood details →

More Comparisons

Other cost of living comparisons for Memphis and Lakewood

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