Cost of Living: Philadelphia, PA vs Memphis, TN (2026)

Philadelphia

Pennsylvania
85
VS

Memphis

Tennessee
68

Philadelphia is 25% more expensive than Memphis.

$1,323/mo ↑ 18%
Median Rent
$1,123/mo ↓ 15%
$60,698/yr ↑ 19%
Median Income
$51,211/yr ↓ 16%
$232,400 ↑ 48%
Home Value
$157,100 ↓ 32%
$1,233/mo ↑ 13%
Owner Costs
$1,087/mo ↓ 12%
1,582,432
Population
629,063

Tax Comparison

3.07%
Income Tax
0%
6.0%
State Sales Tax
7.0%
1.49%
Property Tax
0.64%

Affordability

26.2%
rent-to-income
Affordability
26.3%
rent-to-income

Detailed Comparison

When comparing Philadelphia, PA and Memphis, TN, the overall cost of living indices are 85 and 68 respectively (national median = 100). Rent is $200/month cheaper in Memphis, saving renters about $2,400/year.

Median household income is $9,487/year higher in Philadelphia. Home values also differ significantly — the median in Philadelphia is $232,400 compared to $157,100 in Memphis.

Tennessee has no state income tax, giving Memphis residents a significant tax advantage over Pennsylvania's 3.07% rate.

Frequently Asked Questions

Philadelphia vs Memphis — common questions

Is Philadelphia or Memphis cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 85 (US average = 100).
What is the rent difference between Philadelphia and Memphis?
Median rent in Philadelphia is $1,323/month and in Memphis it's $1,123/month — a difference of $200/month.
Which city has higher income, Philadelphia or Memphis?
Median household income is $60,698 in Philadelphia and $51,211 in Memphis. Median household income is $9,487/year higher in Philadelphia.
How do taxes compare between Pennsylvania and Tennessee?
Pennsylvania has 3.07% income tax, 6.0% sales tax, and 1.49% property tax. Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax.
Should I move to Philadelphia or Memphis?
It depends on your priorities. Philadelphia has a cost index of 85 with median rent of $1,323/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.
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