Cost of Living: Memphis, TN vs Wilmington, NC (2026)

Memphis

Tennessee
68
VS

Wilmington

North Carolina
100

Memphis is 32% cheaper than Wilmington.

$1,123/mo ↓ 14%
Median Rent
$1,311/mo ↑ 17%
$51,211/yr ↓ 20%
Median Income
$63,900/yr ↑ 25%
$157,100 ↓ 55%
Home Value
$350,300 ↑ 123%
$1,087/mo ↓ 21%
Owner Costs
$1,371/mo ↑ 26%
629,063
Population
118,578

Tax Comparison

0%
Income Tax
4.5%
7.0%
State Sales Tax
4.75%
0.64%
Property Tax
0.8%

Affordability

26.3%
rent-to-income
Affordability
24.6%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Wilmington, NC, the overall cost of living indices are 68 and 100 respectively (national median = 100). Rent is $188/month cheaper in Memphis, saving renters about $2,256/year.

Median household income is $12,689/year higher in Wilmington. Home values also differ significantly — the median in Memphis is $157,100 compared to $350,300 in Wilmington.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over North Carolina's 4.5% rate.

Frequently Asked Questions

Memphis vs Wilmington — common questions

Is Memphis or Wilmington cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 100 (US average = 100).
What is the rent difference between Memphis and Wilmington?
Median rent in Memphis is $1,123/month and in Wilmington it's $1,311/month — a difference of $188/month.
Which city has higher income, Memphis or Wilmington?
Median household income is $51,211 in Memphis and $63,900 in Wilmington. Median household income is $12,689/year higher in Wilmington.
How do taxes compare between Tennessee and North Carolina?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. North Carolina has 4.5% income tax, 4.75% sales tax, and 0.8% property tax.
Should I move to Memphis or Wilmington?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Wilmington has a cost index of 100 with rent of $1,311/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Wilmington details →

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