Is it cheaper to live in Baltimore or Memphis?

Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 21% below Baltimore, MD's $1,410, mainly because of electricity costs.

How much more do you need to earn to live in Baltimore than in Memphis?

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $43,000 a year in Baltimore versus $38,000 in Memphis.

Which has lower taxes, Baltimore or Memphis?

Baltimore is taxed under Maryland's rules (a top state income tax rate of 6.50% and a 6% state sales tax); Memphis under Tennessee's (no state income tax and a 7% state sales tax).

Baltimore vs Memphis Cost of Living 2026

Baltimore

Maryland

$1,410/mo est.

Memphis

Tennessee

$1,110/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,410 in Baltimore, MD versus $1,110 in Memphis, TN. Overall, Memphis, TN is roughly 21% cheaper to live in day-to-day than Baltimore, MD, driven mainly by electricity costs.

Median household income is $59,623 in Baltimore, MD and $51,211 in Memphis, TN — about 14% higher in Baltimore, MD. Maryland has a top state income tax rate of 6.50% and a 6% state sales tax; Tennessee has no state income tax and a 7% state sales tax.

Baltimore, MD

Memphis, TN

Rent

Studio

$1,050

$877

+16% in Baltimore, MD

1 Bedroom

$1,073

$948

+12% in Baltimore, MD

2 Bedroom

$1,353

$1,073

+21% in Baltimore, MD

3 Bedroom

$1,555

$1,281

+18% in Baltimore, MD

Buying a Home

Median Home Value

$219,300

$157,100

+28% in Baltimore, MD

Income

Median Household Income

$59,623

$51,211

+14% in Baltimore, MD

Metro Median Wage (annual)

$59,070

$46,890

+21% in Baltimore, MD

People & Lifestyle

Median Age

36.1 yr

34.3 yr

+1.8 yr in Baltimore, MD

Homeownership

47.5%

46.0%

+1.5 pp in Baltimore, MD

Bachelor's+ (25+)

35.4%

28.2%

+7.2 pp in Baltimore, MD

Avg Commute

29.4 min

21.3 min

+8.1 min in Baltimore, MD

Crime (per 100k/yr)

Violent Crime

1,616.7

2,507.5

+55% in Memphis, TN

Property Crime

4,202.6

6,965.8

+66% in Memphis, TN

FBI Crime Data Explorer. Offenses per 100,000 residents per year; agency reporting practices vary, so this is approximate.

Climate

Avg Annual Temperature

61.4°F

63.1°F

+1.7°F in Memphis, TN

Annual Precipitation

42.4 in

53.7 in

+11.3 in in Memphis, TN

Gas

Regular Gasoline

$4.30/gal

$4.35/gal

+1% in Memphis, TN

Area: East Coast (PADD 1) vs Midwest (PADD 2).

Public Transit

Base Fare (one-way)

$2.00

$1.75

+13% in Baltimore, MD

Adult base one-way fare — MTA Maryland vs MATA (2026).

Utilities

Electricity (¢/kWh)

35.9

15.1

+58% in Baltimore, MD

Natural Gas ($/MCF)

$17.19

$15.54

+10% in Baltimore, MD

Residential, state-level averages (EIA). MCF = 1,000 cubic feet.

Groceries

Milk (gal)

$4.16

about equal

Bread (lb)

$1.73

about equal

Eggs (doz)

$2.19

about equal

Ground Beef (lb)

$6.56

about equal

Chicken (lb)

$1.90

about equal

Bananas (lb)

$0.61

about equal

Average prices — South vs South (BLS). Regional where available, otherwise U.S. average.

State Taxes

Sales Tax (MD / TN)

+1.0 pp in TN

Income Tax (top rate)

6.50%

None

+6.5 pp in MD

Baltimore vs Memphis — FAQ

Is it cheaper to live in Baltimore or Memphis?: Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 21% below Baltimore, MD's $1,410, mainly because of electricity costs.
How much more do you need to earn to live in Baltimore than in Memphis?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $43,000 a year in Baltimore versus $38,000 in Memphis.
Which has lower taxes, Baltimore or Memphis?: Baltimore is taxed under Maryland's rules (a top state income tax rate of 6.50% and a 6% state sales tax); Memphis under Tennessee's (no state income tax and a 7% state sales tax).

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981–2010 (climate); EIA weekly retail (gas); Tax Foundation 2026 (state taxes).