Cost of Living: Memphis, TN vs Winston-Salem, NC (2026)

Memphis

Tennessee
68
VS

Winston-Salem

North Carolina
71

Memphis is 4% cheaper than Winston-Salem.

$1,123/mo ↑ 9%
Median Rent
$1,033/mo ↓ 8%
$51,211/yr ↓ 11%
Median Income
$57,673/yr ↑ 13%
$157,100 ↓ 25%
Home Value
$208,200 ↑ 33%
$1,087/mo ↑ 5%
Owner Costs
$1,040/mo ↓ 4%
629,063
Population
250,887

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
21.5%
rent-to-income

Detailed Comparison

When comparing Memphis, TN and Winston-Salem, NC, the overall cost of living indices are 68 and 71 respectively (national median = 100). Rent is $90/month cheaper in Winston-Salem, saving renters about $1,080/year.

Median household income is $6,462/year higher in Winston-Salem. Home values also differ significantly — the median in Memphis is $157,100 compared to $208,200 in Winston-Salem.

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 Winston-Salem — common questions

Is Memphis or Winston-Salem cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 71 (US average = 100).
What is the rent difference between Memphis and Winston-Salem?
Median rent in Memphis is $1,123/month and in Winston-Salem it's $1,033/month — a difference of $90/month.
Which city has higher income, Memphis or Winston-Salem?
Median household income is $51,211 in Memphis and $57,673 in Winston-Salem. Median household income is $6,462/year higher in Winston-Salem.
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 Winston-Salem?
It depends on your priorities. Memphis has a cost index of 68 with median rent of $1,123/mo, while Winston-Salem has a cost index of 71 with rent of $1,033/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Memphis details → View Winston-Salem details →

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