Cost of Living: Memphis, TN vs Virginia Beach, VA (2026)

Memphis

Tennessee
68
VS

Virginia Beach

Virginia
117

Memphis is 42% cheaper than Virginia Beach.

$1,123/mo ↓ 32%
Median Rent
$1,649/mo ↑ 47%
$51,211/yr ↓ 44%
Median Income
$90,685/yr ↑ 77%
$157,100 ↓ 57%
Home Value
$366,300 ↑ 133%
$1,087/mo ↓ 36%
Owner Costs
$1,704/mo ↑ 57%
629,063
Population
457,066

Tax Comparison

0%
Income Tax
5.75%
7.0%
State Sales Tax
5.3%
0.64%
Property Tax
0.8%

Affordability

26.3%
rent-to-income
Affordability
21.8%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Virginia Beach, VA, the overall cost of living indices are 68 and 117 respectively (national median = 100). Rent is $526/month cheaper in Memphis, saving renters about $6,312/year.

Median household income is $39,474/year higher in Virginia Beach. Home values also differ significantly — the median in Memphis is $157,100 compared to $366,300 in Virginia Beach.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Virginia's 5.75% rate.

Frequently Asked Questions

Memphis vs Virginia Beach — common questions

Is Memphis or Virginia Beach cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 117 (US average = 100).
What is the rent difference between Memphis and Virginia Beach?
Median rent in Memphis is $1,123/month and in Virginia Beach it's $1,649/month — a difference of $526/month.
Which city has higher income, Memphis or Virginia Beach?
Median household income is $51,211 in Memphis and $90,685 in Virginia Beach. Median household income is $39,474/year higher in Virginia Beach.
How do taxes compare between Tennessee and Virginia?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.
Should I move to Memphis or Virginia Beach?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Virginia Beach has a cost index of 117 with rent of $1,649/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Virginia Beach details →

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