Cost of Living: Memphis, TN vs Savannah, GA (2026)

Memphis

Tennessee
68
VS

Savannah

Georgia
84

Memphis is 19% cheaper than Savannah.

$1,123/mo ↓ 14%
Median Rent
$1,302/mo ↑ 16%
$51,211/yr ↓ 10%
Median Income
$56,782/yr ↑ 11%
$157,100 ↓ 30%
Home Value
$225,200 ↑ 43%
$1,087/mo ↓ 14%
Owner Costs
$1,257/mo ↑ 16%
629,063
Population
147,546

Tax Comparison

0%
Income Tax
5.49%
7.0%
State Sales Tax
4.0%
0.64%
Property Tax
0.92%

Affordability

26.3%
rent-to-income
Affordability
27.5%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Savannah, GA, the overall cost of living indices are 68 and 84 respectively (national median = 100). Rent is $179/month cheaper in Memphis, saving renters about $2,148/year.

Median household income is $5,571/year higher in Savannah. Home values also differ significantly — the median in Memphis is $157,100 compared to $225,200 in Savannah.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Georgia's 5.49% rate.

Frequently Asked Questions

Memphis vs Savannah — common questions

Is Memphis or Savannah cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 84 (US average = 100).
What is the rent difference between Memphis and Savannah?
Median rent in Memphis is $1,123/month and in Savannah it's $1,302/month — a difference of $179/month.
Which city has higher income, Memphis or Savannah?
Median household income is $51,211 in Memphis and $56,782 in Savannah. Median household income is $5,571/year higher in Savannah.
How do taxes compare between Tennessee and Georgia?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Georgia has 5.49% income tax, 4.0% sales tax, and 0.92% property tax.
Should I move to Memphis or Savannah?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Savannah has a cost index of 84 with rent of $1,302/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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