Memphis, TN vs Palm Bay, FL: 68 vs 91

$1,123/mo ↓ 24%

Median Rent

$1,487/mo ↑ 32%

$51,211/yr ↓ 24%

Median Income

$67,521/yr ↑ 32%

$157,100 ↓ 37%

Home Value

$248,000 ↑ 58%

$1,087/mo ↓ 10%

Owner Costs

$1,203/mo ↑ 11%

629,063

Population

125,273

Detailed Comparison

When comparing Memphis, TN and Palm Bay, FL, the overall cost of living indices are 68 and 91 respectively (national median = 100). Rent is $364/month cheaper in Memphis, saving renters about $4,368/year.

Median household income is $16,310/year higher in Palm Bay. Home values also differ significantly — the median in Memphis is $157,100 compared to $248,000 in Palm Bay.

Frequently Asked Questions

Memphis vs Palm Bay — common questions

Is Memphis or Palm Bay cheaper to live in?

Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 91 (US average = 100).

What is the rent difference between Memphis and Palm Bay?

Median rent in Memphis is $1,123/month and in Palm Bay it's $1,487/month — a difference of $364/month.

Which city has higher income, Memphis or Palm Bay?

Median household income is $51,211 in Memphis and $67,521 in Palm Bay. Median household income is $16,310/year higher in Palm Bay.

How do taxes compare between Tennessee and Florida?

Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax.

Should I move to Memphis or Palm Bay?

It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Palm Bay has a cost index of 91 with rent of $1,487/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.

Cost of Living: Memphis, TN vs Palm Bay, FL (2026)

Memphis

Palm Bay

Tax Comparison

Affordability

Detailed Comparison

Frequently Asked Questions

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