Cost of Living: Memphis, TN vs The Woodlands, TX (2026)

Memphis

Tennessee
68
VS

The Woodlands

Texas
139

Memphis is 51% cheaper than The Woodlands.

$1,123/mo ↓ 37%
Median Rent
$1,792/mo ↑ 60%
$51,211/yr ↓ 64%
Median Income
$141,353/yr ↑ 176%
$157,100 ↓ 67%
Home Value
$479,400 ↑ 205%
$1,087/mo ↓ 46%
Owner Costs
$2,005/mo ↑ 84%
629,063
Population
116,916

Tax Comparison

0%
Income Tax
0%
7.0%
State Sales Tax
6.25%
0.64%
Property Tax
1.6%

Affordability

26.3%
rent-to-income
Affordability
15.2%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and The Woodlands, TX, the overall cost of living indices are 68 and 139 respectively (national median = 100). Rent is $669/month cheaper in Memphis, saving renters about $8,028/year.

Median household income is $90,142/year higher in The Woodlands. Home values also differ significantly — the median in Memphis is $157,100 compared to $479,400 in The Woodlands.

Frequently Asked Questions

Memphis vs The Woodlands — common questions

Is Memphis or The Woodlands cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 139 (US average = 100).
What is the rent difference between Memphis and The Woodlands?
Median rent in Memphis is $1,123/month and in The Woodlands it's $1,792/month — a difference of $669/month.
Which city has higher income, Memphis or The Woodlands?
Median household income is $51,211 in Memphis and $141,353 in The Woodlands. Median household income is $90,142/year higher in The Woodlands.
How do taxes compare between Tennessee and Texas?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Memphis or The Woodlands?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while The Woodlands has a cost index of 139 with rent of $1,792/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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