Memphis, TN vs Tampa, FL: 68 vs 113

$1,123/mo ↓ 28%

Median Rent

$1,567/mo ↑ 40%

$51,211/yr ↓ 28%

Median Income

$71,302/yr ↑ 39%

$157,100 ↓ 58%

Home Value

$375,300 ↑ 139%

$1,087/mo ↓ 30%

Owner Costs

$1,553/mo ↑ 43%

629,063

Population

393,389

Detailed Comparison

When comparing Memphis, TN and Tampa, FL, the overall cost of living indices are 68 and 113 respectively (national median = 100). Rent is $444/month cheaper in Memphis, saving renters about $5,328/year.

Median household income is $20,091/year higher in Tampa. Home values also differ significantly — the median in Memphis is $157,100 compared to $375,300 in Tampa.

Frequently Asked Questions

Memphis vs Tampa — common questions

Is Memphis or Tampa cheaper to live in?

Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 113 (US average = 100).

What is the rent difference between Memphis and Tampa?

Median rent in Memphis is $1,123/month and in Tampa it's $1,567/month — a difference of $444/month.

Which city has higher income, Memphis or Tampa?

Median household income is $51,211 in Memphis and $71,302 in Tampa. Median household income is $20,091/year higher in Tampa.

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 Tampa?

It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Tampa has a cost index of 113 with rent of $1,567/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.

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

Memphis

Tampa

Tax Comparison

Affordability

Detailed Comparison

Frequently Asked Questions

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