Memphis, TN vs Madison, WI: 68 vs 103

$1,123/mo ↓ 18%

Median Rent

$1,364/mo ↑ 21%

$51,211/yr ↓ 33%

Median Income

$76,983/yr ↑ 50%

$157,100 ↓ 55%

Home Value

$346,900 ↑ 121%

$1,087/mo ↓ 26%

Owner Costs

$1,476/mo ↑ 36%

629,063

Population

275,568

Detailed Comparison

When comparing Memphis, TN and Madison, WI, the overall cost of living indices are 68 and 103 respectively (national median = 100). Rent is $241/month cheaper in Memphis, saving renters about $2,892/year.

Median household income is $25,772/year higher in Madison. Home values also differ significantly — the median in Memphis is $157,100 compared to $346,900 in Madison.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Wisconsin's 7.65% rate.

Frequently Asked Questions

Memphis vs Madison — common questions

Is Memphis or Madison cheaper to live in?

Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 103 (US average = 100).

What is the rent difference between Memphis and Madison?

Median rent in Memphis is $1,123/month and in Madison it's $1,364/month — a difference of $241/month.

Which city has higher income, Memphis or Madison?

Median household income is $51,211 in Memphis and $76,983 in Madison. Median household income is $25,772/year higher in Madison.

How do taxes compare between Tennessee and Wisconsin?

Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Wisconsin has 7.65% income tax, 5.0% sales tax, and 1.61% property tax.

Should I move to Memphis or Madison?

It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Madison has a cost index of 103 with rent of $1,364/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.

Cost of Living: Memphis, TN vs Madison, WI (2026)

Memphis

Madison

Tax Comparison

Affordability

Detailed Comparison

Frequently Asked Questions

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