Cost of Living: Memphis, TN vs St. Louis, MO (2026)

Memphis

Tennessee
68
VS

St. Louis

Missouri
66

Memphis and St. Louis have a similar cost of living.

$1,123/mo ↑ 15%
Median Rent
$978/mo ↓ 13%
$51,211/yr ↓ 7%
Median Income
$55,279/yr ↑ 8%
$157,100 ↓ 15%
Home Value
$185,100 ↑ 18%
$1,087/mo ↑ 7%
Owner Costs
$1,013/mo ↓ 7%
629,063
Population
293,109

Tax Comparison

0%
Income Tax
4.95%
7.0%
State Sales Tax
4.225%
0.64%
Property Tax
0.93%

Affordability

26.3%
rent-to-income
Affordability
21.2%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and St. Louis, MO, the overall cost of living indices are 68 and 66 respectively (national median = 100). Rent is $145/month cheaper in St. Louis, saving renters about $1,740/year.

Median household income is $4,068/year higher in St. Louis. Home values also differ significantly — the median in Memphis is $157,100 compared to $185,100 in St. Louis.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Missouri's 4.95% rate.

Frequently Asked Questions

Memphis vs St. Louis — common questions

Is Memphis or St. Louis cheaper to live in?
Based on our cost index, St. Louis is cheaper to live in with an index of 66 compared to 68 (US average = 100).
What is the rent difference between Memphis and St. Louis?
Median rent in Memphis is $1,123/month and in St. Louis it's $978/month — a difference of $145/month.
Which city has higher income, Memphis or St. Louis?
Median household income is $51,211 in Memphis and $55,279 in St. Louis. Median household income is $4,068/year higher in St. Louis.
How do taxes compare between Tennessee and Missouri?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Missouri has 4.95% income tax, 4.225% sales tax, and 0.93% property tax.
Should I move to Memphis or St. Louis?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while St. Louis has a cost index of 66 with rent of $978/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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