Is Memphis expensive to live in?
Median income: $41,228. Median rent: $950. Median home price: $155,000.
Relocation guide · Tennessee
Moving to Memphis, TN
Memphis, TN city guide. Population is 633,104. Median household income is $41,228. Median rent is $950.
Median Rent
$950/mo
Median Income
$41,228
State Tax
None
Population
633,104
Cost of living
What you'll spend in Memphis
Median income: $41,228. Median rent: $950. Median home price: $155,000.
Median Rent/mo
$950
Median Home Price
$155,000
Median Income
$41,228
Rent-to-Income
28%
Taxes
Your tax situation in Tennessee
State tax rate: 0%. Local tax rate: 9.75%.
State Income Tax
None
Local Tax Rate
9.75%
Climate
Weather in Memphis
Average high: 70°F. Average low: 49°F. Annual rainfall: 54 inches. Sunny days: 214.
Avg High Temp
70°F
Avg Low Temp
49°F
Sunny Days/yr
214
Annual Rainfall
54"
Relocation checklist
Before you move to Memphis
Use this checklist to stay organized during your move.
- ✓Research neighborhoods and commute routes
- ✓Compare rent vs buying based on your timeline
- ✓Check state income tax impact on your salary
- ✓Verify employer presence or remote work infrastructure
- ✓Review health insurance and healthcare options
- ✓Update driver's license and vehicle registration
- ✓Transfer voter registration to new state
- ✓Find a local bank or update your address
- ✓Research school districts if moving with children
- ✓Get quotes from at least 3 moving companies
Considering other cities?
Compare Memphis with similar cities
Frequently asked questions about moving to Memphis
What is the average rent in Memphis?
The median rent in Memphis is $950/month. Median home price is $155,000. Many newcomers rent for the first year to learn the neighborhoods before buying.
Does Tennessee have a state income tax?
State tax rate: 0%. Local tax rate: 9.75%.
What is Memphis known for?
Memphis, TN city guide. Population is 633,104. Median household income is $41,228. Median rent is $950.
What should I know before moving to Memphis?
Research neighborhoods carefully — Memphis has significant variation in cost and lifestyle by area.
Data sourced from U.S. Census Bureau, Bureau of Labor Statistics, and NOAA. Updated 2026.