Memphis, TN vs Raleigh, NC: 68 vs 110

$1,123/mo ↓ 24%

Median Rent

$1,468/mo ↑ 31%

$51,211/yr ↓ 38%

Median Income

$82,424/yr ↑ 61%

$157,100 ↓ 58%

Home Value

$377,800 ↑ 140%

$1,087/mo ↓ 27%

Owner Costs

$1,487/mo ↑ 37%

629,063

Population

470,763

Detailed Comparison

When comparing Memphis, TN and Raleigh, NC, the overall cost of living indices are 68 and 110 respectively (national median = 100). Rent is $345/month cheaper in Memphis, saving renters about $4,140/year.

Median household income is $31,213/year higher in Raleigh. Home values also differ significantly — the median in Memphis is $157,100 compared to $377,800 in Raleigh.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over North Carolina's 4.5% rate.

Frequently Asked Questions

Memphis vs Raleigh — common questions

Is Memphis or Raleigh cheaper to live in?

Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 110 (US average = 100).

What is the rent difference between Memphis and Raleigh?

Median rent in Memphis is $1,123/month and in Raleigh it's $1,468/month — a difference of $345/month.

Which city has higher income, Memphis or Raleigh?

Median household income is $51,211 in Memphis and $82,424 in Raleigh. Median household income is $31,213/year higher in Raleigh.

How do taxes compare between Tennessee and North Carolina?

Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. North Carolina has 4.5% income tax, 4.75% sales tax, and 0.8% property tax.

Should I move to Memphis or Raleigh?

It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Raleigh has a cost index of 110 with rent of $1,468/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.

Cost of Living: Memphis, TN vs Raleigh, NC (2026)

Memphis

Raleigh

Tax Comparison

Affordability

Detailed Comparison

Frequently Asked Questions

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