Cost of Living: Memphis, TN vs Westminster, CO (2026)

Memphis

Tennessee
68
VS

Westminster

Colorado
139

Memphis is 51% cheaper than Westminster.

$1,123/mo ↓ 38%
Median Rent
$1,816/mo ↑ 62%
$51,211/yr ↓ 47%
Median Income
$96,145/yr ↑ 88%
$157,100 ↓ 68%
Home Value
$497,400 ↑ 217%
$1,087/mo ↓ 41%
Owner Costs
$1,841/mo ↑ 69%
629,063
Population
115,546

Tax Comparison

0%
Income Tax
4.4%
7.0%
State Sales Tax
2.9%
0.64%
Property Tax
0.51%

Affordability

26.3%
rent-to-income
Affordability
22.7%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Westminster, CO, the overall cost of living indices are 68 and 139 respectively (national median = 100). Rent is $693/month cheaper in Memphis, saving renters about $8,316/year.

Median household income is $44,934/year higher in Westminster. Home values also differ significantly — the median in Memphis is $157,100 compared to $497,400 in Westminster.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Colorado's 4.4% rate.

Frequently Asked Questions

Memphis vs Westminster — common questions

Is Memphis or Westminster 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 Westminster?
Median rent in Memphis is $1,123/month and in Westminster it's $1,816/month — a difference of $693/month.
Which city has higher income, Memphis or Westminster?
Median household income is $51,211 in Memphis and $96,145 in Westminster. Median household income is $44,934/year higher in Westminster.
How do taxes compare between Tennessee and Colorado?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax.
Should I move to Memphis or Westminster?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Westminster has a cost index of 139 with rent of $1,816/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Westminster details →

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