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

Memphis

Tennessee
68
VS

Odessa

Texas
83

Memphis is 18% cheaper than Odessa.

$1,123/mo ↓ 15%
Median Rent
$1,322/mo ↑ 18%
$51,211/yr ↓ 30%
Median Income
$73,030/yr ↑ 43%
$157,100 ↓ 24%
Home Value
$208,000 ↑ 32%
$1,087/mo ↓ 13%
Owner Costs
$1,251/mo ↑ 15%
629,063
Population
114,080

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
21.7%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Odessa, TX, the overall cost of living indices are 68 and 83 respectively (national median = 100). Rent is $199/month cheaper in Memphis, saving renters about $2,388/year.

Median household income is $21,819/year higher in Odessa. Home values also differ significantly — the median in Memphis is $157,100 compared to $208,000 in Odessa.

Frequently Asked Questions

Memphis vs Odessa — common questions

Is Memphis or Odessa cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 83 (US average = 100).
What is the rent difference between Memphis and Odessa?
Median rent in Memphis is $1,123/month and in Odessa it's $1,322/month — a difference of $199/month.
Which city has higher income, Memphis or Odessa?
Median household income is $51,211 in Memphis and $73,030 in Odessa. Median household income is $21,819/year higher in Odessa.
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 Odessa?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Odessa has a cost index of 83 with rent of $1,322/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Odessa details →

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