Cost of Living: Memphis, TN vs Laredo, TX (2026)

Memphis

Tennessee
68
VS

Laredo

Texas
67

Memphis and Laredo have a similar cost of living.

$1,123/mo ↑ 12%
Median Rent
$1,001/mo ↓ 11%
$51,211/yr ↓ 19%
Median Income
$63,264/yr ↑ 24%
$157,100 ↓ 14%
Home Value
$182,400 ↑ 16%
$1,087/mo ↑ 2%
Owner Costs
$1,066/mo ↓ 2%
629,063
Population
255,949

Tax Comparison

0%
Income Tax
0%
7.0%
State Sales Tax
6.25%
0.64%
Property Tax
1.6%

Affordability

26.3%
rent-to-income
Affordability
19.0%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Laredo, TX, the overall cost of living indices are 68 and 67 respectively (national median = 100). Rent is $122/month cheaper in Laredo, saving renters about $1,464/year.

Median household income is $12,053/year higher in Laredo. Home values also differ significantly — the median in Memphis is $157,100 compared to $182,400 in Laredo.

Frequently Asked Questions

Memphis vs Laredo — common questions

Is Memphis or Laredo cheaper to live in?
Based on our cost index, Laredo is cheaper to live in with an index of 67 compared to 68 (US average = 100).
What is the rent difference between Memphis and Laredo?
Median rent in Memphis is $1,123/month and in Laredo it's $1,001/month — a difference of $122/month.
Which city has higher income, Memphis or Laredo?
Median household income is $51,211 in Memphis and $63,264 in Laredo. Median household income is $12,053/year higher in Laredo.
How do taxes compare between Tennessee and Texas?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Memphis or Laredo?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Laredo has a cost index of 67 with rent of $1,001/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Laredo details →

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