Cost of Living: Oklahoma City, OK vs Memphis, TN (2026)

Oklahoma City

Oklahoma City
74
VS

Memphis

Tennessee
68

Oklahoma City is 9% more expensive than Memphis.

$1,083/mo ↓ 4%
Median Rent
$1,123/mo ↑ 4%
$66,702/yr ↑ 30%
Median Income
$51,211/yr ↓ 23%
$215,100 ↑ 37%
Home Value
$157,100 ↓ 27%
$1,133/mo ↑ 4%
Owner Costs
$1,087/mo ↓ 4%
688,693
Population
629,063

Tax Comparison

4.75%
Income Tax
0%
4.5%
State Sales Tax
7.0%
0.9%
Property Tax
0.64%

Affordability

19.5%
rent-to-income
Affordability
26.3%
rent-to-income

Detailed Comparison

When comparing Oklahoma City, OK and Memphis, TN, the overall cost of living indices are 74 and 68 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $15,491/year higher in Oklahoma City. Home values also differ significantly — the median in Oklahoma City is $215,100 compared to $157,100 in Memphis.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Oklahoma City's 4.75% rate.

Frequently Asked Questions

Oklahoma City vs Memphis — common questions

Is Oklahoma City or Memphis cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 74 (US average = 100).
What is the rent difference between Oklahoma City and Memphis?
Median rent in Oklahoma City is $1,083/month and in Memphis it's $1,123/month — a difference of $40/month.
Which city has higher income, Oklahoma City or Memphis?
Median household income is $66,702 in Oklahoma City and $51,211 in Memphis. Median household income is $15,491/year higher in Oklahoma City.
How do taxes compare between Oklahoma and Tennessee?
Oklahoma has 4.75% income tax, 4.5% sales tax, and 0.9% property tax. Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax.
Should I move to Oklahoma City or Memphis?
It depends on your priorities. Oklahoma City has a cost index of 74 with median rent of $1,083/mo, while Memphis has a cost index of 68 with rent of $1,123/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Oklahoma City details → View Memphis details →

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