Cost of Living: Memphis, TN vs Toledo, OH (2026)

Memphis

Tennessee
68
VS

Toledo

Ohio
52

Memphis is 31% more expensive than Toledo.

$1,123/mo ↑ 28%
Median Rent
$880/mo ↓ 22%
$51,211/yr ↑ 8%
Median Income
$47,532/yr ↓ 7%
$157,100 ↑ 47%
Home Value
$107,000 ↓ 32%
$1,087/mo ↑ 27%
Owner Costs
$856/mo ↓ 21%
629,063
Population
268,461

Tax Comparison

0%
Income Tax
3.5%
7.0%
State Sales Tax
5.75%
0.64%
Property Tax
1.53%

Affordability

26.3%
rent-to-income
Affordability
22.2%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Toledo, OH, the overall cost of living indices are 68 and 52 respectively (national median = 100). Rent is $243/month cheaper in Toledo, saving renters about $2,916/year.

Median household income is $3,679/year higher in Memphis. Home values also differ significantly — the median in Memphis is $157,100 compared to $107,000 in Toledo.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Ohio's 3.5% rate.

Frequently Asked Questions

Memphis vs Toledo — common questions

Is Memphis or Toledo cheaper to live in?
Based on our cost index, Toledo is cheaper to live in with an index of 52 compared to 68 (US average = 100).
What is the rent difference between Memphis and Toledo?
Median rent in Memphis is $1,123/month and in Toledo it's $880/month — a difference of $243/month.
Which city has higher income, Memphis or Toledo?
Median household income is $51,211 in Memphis and $47,532 in Toledo. Median household income is $3,679/year higher in Memphis.
How do taxes compare between Tennessee and Ohio?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Ohio has 3.5% income tax, 5.75% sales tax, and 1.53% property tax.
Should I move to Memphis or Toledo?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Toledo has a cost index of 52 with rent of $880/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Toledo details →

More Comparisons

Other cost of living comparisons for Memphis and Toledo

Memphis vs. Detroit Memphis vs. Louisville Memphis vs. Portland Memphis vs. Baltimore Memphis vs. Las Vegas Memphis vs. Milwaukee Toledo vs. Reno Toledo vs. Fort Wayne Toledo vs. North Las Vegas Toledo vs. Lubbock Toledo vs. Gilbert Toledo vs. St. Petersburg