Miami vs Memphis

Memphis is cheaper to live in overall. Miami has a cost of living index of 120 while Memphis has an index of 83, where 100 represents the US national average. Memphis is 31% cheaper than Miami overall.

The median 1-bedroom rent in Miami is $2,350 per month compared to $1,050 in Memphis. The median home price in Miami is $595,000 versus $175,000 in Memphis. Housing is typically the largest factor in cost of living differences between cities.

Miami has a cost of living index of 120 and Memphis has an index of 83, both measured against a US national average of 100. An index above 100 means more expensive than the national average — below 100 means cheaper.

To maintain the same purchasing power as a salary in Miami, multiply by 0.69. For example a $75,000 salary in Miami is equivalent to approximately $51,875 in Memphis.

Miami has a median household income of $47,861 per year versus $42,982 in Memphis. Higher incomes must be weighed against cost of living. Use the Dayblip salary tools to see specific job salaries in both cities.

Whether moving from Miami to Memphis is worthwhile depends on your salary, lifestyle, and priorities. Memphis is 31% cheaper overall — with the biggest difference in housing. Use the Dayblip cost of living calculator to enter your specific salary and see the exact dollar impact.