Cost of Living: Memphis, TN vs Syracuse, NY (2026)

Memphis

Tennessee
68
VS

Syracuse

New York
59

Memphis is 15% more expensive than Syracuse.

$1,123/mo ↑ 13%
Median Rent
$998/mo ↓ 11%
$51,211/yr ↑ 12%
Median Income
$45,845/yr ↓ 10%
$157,100 ↑ 26%
Home Value
$125,100 ↓ 20%
$1,087/mo ↑ 11%
Owner Costs
$980/mo ↓ 10%
629,063
Population
146,211

Tax Comparison

0%
Income Tax
10.9%
7.0%
State Sales Tax
4.0%
0.64%
Property Tax
1.62%

Affordability

26.3%
rent-to-income
Affordability
26.1%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Syracuse, NY, the overall cost of living indices are 68 and 59 respectively (national median = 100). Rent is $125/month cheaper in Syracuse, saving renters about $1,500/year.

Median household income is $5,366/year higher in Memphis. Home values also differ significantly — the median in Memphis is $157,100 compared to $125,100 in Syracuse.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over New York's 10.9% rate.

Frequently Asked Questions

Memphis vs Syracuse — common questions

Is Memphis or Syracuse cheaper to live in?
Based on our cost index, Syracuse is cheaper to live in with an index of 59 compared to 68 (US average = 100).
What is the rent difference between Memphis and Syracuse?
Median rent in Memphis is $1,123/month and in Syracuse it's $998/month — a difference of $125/month.
Which city has higher income, Memphis or Syracuse?
Median household income is $51,211 in Memphis and $45,845 in Syracuse. Median household income is $5,366/year higher in Memphis.
How do taxes compare between Tennessee and New York?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. New York has 10.9% income tax, 4.0% sales tax, and 1.62% property tax.
Should I move to Memphis or Syracuse?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Syracuse has a cost index of 59 with rent of $998/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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