Is it cheaper to live in Casper or Memphis?

Casper, WY is cheaper. Its monthly baseline of $930 (1BR rent + utilities) runs about 16% below Memphis, TN's $1,110, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $31,000 a year in Casper versus $38,000 in Memphis.

Which has lower taxes, Casper or Memphis?

Casper is taxed under Wyoming's rules (no state income tax and a 4% state sales tax); Memphis under Tennessee's (no state income tax and a 7% state sales tax).

Casper vs Memphis Cost of Living 2026

Casper

Wyoming

$930/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 $930 in Casper, WY versus $1,110 in Memphis, TN. Overall, Casper, WY is roughly 16% cheaper to live in day-to-day than Memphis, TN, driven mainly by rent.

Median household income is $69,171 in Casper, WY and $51,211 in Memphis, TN — about 26% higher in Casper, WY. Wyoming has no state income tax and a 4% state sales tax; Tennessee has no state income tax and a 7% state sales tax.

Casper, WY

Memphis, TN

Rent

Studio

$730

$877

+20% in Memphis, TN

1 Bedroom

$764

$948

+24% in Memphis, TN

2 Bedroom

$930

$1,073

+15% in Memphis, TN

3 Bedroom

$1,299

$1,281

+1% in Casper, WY

Buying a Home

Median Home Value

$250,700

$157,100

+37% in Casper, WY

Income

Median Household Income

$69,171

$51,211

+26% in Casper, WY

Metro Median Wage (annual)

$48,880

$46,890

+4% in Casper, WY

People & Lifestyle

Median Age

37.0 yr

34.3 yr

+2.7 yr in Casper, WY

Homeownership

70.3%

46.0%

+24.3 pp in Casper, WY

Bachelor's+ (25+)

30.0%

28.2%

+1.8 pp in Casper, WY

Avg Commute

16.9 min

21.3 min

+4.4 min in Memphis, TN

Crime (per 100k/yr)

Violent Crime

302.4

2,507.6

+729% in Memphis, TN

Property Crime

2,123.8

6,966.3

+228% 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

45.4°F

63.1°F

+17.7°F in Memphis, TN

Annual Precipitation

12.5 in

53.7 in

+41.2 in in Memphis, TN

Gas

Regular Gasoline

$4.27/gal

$3.85/gal

+10% in Casper, WY

Area: Rocky Mountain (PADD 4) vs Midwest (PADD 2).

Public Transit

Base Fare (one-way)

—

$1.75

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

Utilities

Electricity (¢/kWh)

15.2

14.1

+8% in Casper, WY

Natural Gas ($/MCF)

$18.28

$19.75

+8% in Memphis, TN

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

Groceries

Milk (gal)

$4.82

$4.00

+17% in Casper, WY

Bread (lb)

$2.04

$1.75

+14% in Casper, WY

Eggs (doz)

$2.19

$2.21

+1% in Memphis, TN

Ground Beef (lb)

$7.36

$6.45

+12% in Casper, WY

Chicken (lb)

$2.01

$1.90

+6% in Casper, WY

Bananas (lb)

$0.70

$0.62

+12% in Casper, WY

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

State Taxes

Sales Tax (WY / TN)

+3.0 pp in TN

Income Tax (top rate)

None

about equal

Casper vs Memphis — FAQ

Is it cheaper to live in Casper or Memphis?: Casper, WY is cheaper. Its monthly baseline of $930 (1BR rent + utilities) runs about 16% below Memphis, TN's $1,110, mainly because of rent.
How much more do you need to earn to live in Casper than in Memphis?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $31,000 a year in Casper versus $38,000 in Memphis.
Which has lower taxes, Casper or Memphis?: Casper is taxed under Wyoming's rules (no state income tax and a 4% 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).