Cost of Living: Memphis, TN vs Salt Lake City, UT (2026)

Memphis

Tennessee
68
VS

Salt Lake City

Utah
117

Memphis is 42% cheaper than Salt Lake City.

$1,123/mo ↓ 16%
Median Rent
$1,343/mo ↑ 20%
$51,211/yr ↓ 32%
Median Income
$74,925/yr ↑ 46%
$157,100 ↓ 68%
Home Value
$495,700 ↑ 216%
$1,087/mo ↓ 22%
Owner Costs
$1,394/mo ↑ 28%
629,063
Population
203,888

Tax Comparison

0%
Income Tax
4.65%
7.0%
State Sales Tax
6.1%
0.64%
Property Tax
0.58%

Affordability

26.3%
rent-to-income
Affordability
21.5%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Salt Lake City, UT, the overall cost of living indices are 68 and 117 respectively (national median = 100). Rent is $220/month cheaper in Memphis, saving renters about $2,640/year.

Median household income is $23,714/year higher in Salt Lake City. Home values also differ significantly — the median in Memphis is $157,100 compared to $495,700 in Salt Lake City.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Utah's 4.65% rate.

Frequently Asked Questions

Memphis vs Salt Lake City — common questions

Is Memphis or Salt Lake City cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 117 (US average = 100).
What is the rent difference between Memphis and Salt Lake City?
Median rent in Memphis is $1,123/month and in Salt Lake City it's $1,343/month — a difference of $220/month.
Which city has higher income, Memphis or Salt Lake City?
Median household income is $51,211 in Memphis and $74,925 in Salt Lake City. Median household income is $23,714/year higher in Salt Lake City.
How do taxes compare between Tennessee and Utah?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Utah has 4.65% income tax, 6.1% sales tax, and 0.58% property tax.
Should I move to Memphis or Salt Lake City?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Salt Lake City has a cost index of 117 with rent of $1,343/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Salt Lake City details →

More Comparisons

Other cost of living comparisons for Memphis and Salt Lake City

Memphis vs. Detroit Memphis vs. Louisville Memphis vs. Portland Memphis vs. Baltimore Memphis vs. Las Vegas Memphis vs. Milwaukee Salt Lake City vs. Columbus Salt Lake City vs. Little Rock Salt Lake City vs. Worcester Salt Lake City vs. McKinney Salt Lake City vs. Cape Coral Salt Lake City vs. Augusta