Cost of Living: Memphis, TN vs Tallahassee, FL (2026)

Memphis

Tennessee
68
VS

Tallahassee

Florida
87

Memphis is 22% cheaper than Tallahassee.

$1,123/mo ↓ 9%
Median Rent
$1,238/mo ↑ 10%
$51,211/yr ↓ 8%
Median Income
$55,931/yr ↑ 9%
$157,100 ↓ 43%
Home Value
$276,000 ↑ 76%
$1,087/mo ↓ 12%
Owner Costs
$1,237/mo ↑ 14%
629,063
Population
199,696

Tax Comparison

0%
Income Tax
0%
7.0%
State Sales Tax
6.0%
0.64%
Property Tax
0.86%

Affordability

26.3%
rent-to-income
Affordability
26.6%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Tallahassee, FL, the overall cost of living indices are 68 and 87 respectively (national median = 100). Rent is $115/month cheaper in Memphis, saving renters about $1,380/year.

Median household income is $4,720/year higher in Tallahassee. Home values also differ significantly — the median in Memphis is $157,100 compared to $276,000 in Tallahassee.

Frequently Asked Questions

Memphis vs Tallahassee — common questions

Is Memphis or Tallahassee cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 87 (US average = 100).
What is the rent difference between Memphis and Tallahassee?
Median rent in Memphis is $1,123/month and in Tallahassee it's $1,238/month — a difference of $115/month.
Which city has higher income, Memphis or Tallahassee?
Median household income is $51,211 in Memphis and $55,931 in Tallahassee. Median household income is $4,720/year higher in Tallahassee.
How do taxes compare between Tennessee and Florida?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax.
Should I move to Memphis or Tallahassee?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Tallahassee has a cost index of 87 with rent of $1,238/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Tallahassee details →

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