Housing costs in Memphis?
A typical home costs
$271,200, which is 19.8% less expensive than the national average of
$338,100 and 2.2% less expensive than the average Tennessee home, at
$277,400. Renting a two-bedroom unit in Memphis costs
$1,320 per month, which is 23.4% more than the national average of
$1,070 and 22.7% more than the state average of
$1,020.
Can I afford Memphis?
To live comfortably in Memphis (zip 38133), Tennessee, a minimum annual income of
$51,840 for a family, and
$46,000 for a single person is recommended.
What does A.I. say about Memphis?
The cost of living in 38133 Memphis, TN is generally affordable. Rent for a one-bedroom apartment averages around $750/month. Groceries and other household goods are also relatively inexpensive. Health care costs can be more expensive than other parts of the country, but overall the cost of living is still quite reasonable. Taxes are also low compared to other cities, and there are many opportunities for employment in a variety of industries. All in all, living in 38133 Memphis, TN can be an affordable and positive experience.