New York City vs Memphis

Memphis is cheaper to live in overall. New York City has a cost of living index of 187 while Memphis has an index of 83, where 100 represents the US national average. Memphis is 56% cheaper than New York City overall.

The median 1-bedroom rent in New York City is $3,700 per month compared to $1,050 in Memphis. The median home price in New York City is $750,000 versus $175,000 in Memphis. Housing is typically the largest factor in cost of living differences between cities.

New York City has a cost of living index of 187 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 New York City, multiply by 0.44. For example a $75,000 salary in New York City is equivalent to approximately $33,289 in Memphis.

New York City has a median household income of $70,663 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 New York City to Memphis is worthwhile depends on your salary, lifestyle, and priorities. Memphis is 56% 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.