Living Cost Compare
Charlotte

North Carolina

$1,550/mo est.

vs
Memphis

Tennessee

$1,110/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,550 in Charlotte, NC versus $1,110 in Memphis, TN. Overall, Memphis, TN is roughly 28% cheaper to live in day-to-day than Charlotte, NC, driven mainly by rent.

Median household income is $78,438 in Charlotte, NC and $51,211 in Memphis, TN — about 35% higher in Charlotte, NC. North Carolina has a top state income tax rate of 3.99% and a 4.75% state sales tax; Tennessee has no state income tax and a 7% state sales tax.

Charlotte, NC
Memphis, TN

Rent

Studio
$1,424
$877
+38% in Charlotte, NC
1 Bedroom
$1,374
$948
+31% in Charlotte, NC
2 Bedroom
$1,491
$1,073
+28% in Charlotte, NC
3 Bedroom
$1,663
$1,281
+23% in Charlotte, NC

Buying a Home

Median Home Value
$351,500
$157,100
+55% in Charlotte, NC

Income

Median Household Income
$78,438
$51,211
+35% in Charlotte, NC
Metro Median Wage (annual)
$49,990
$46,890
+6% in Charlotte, NC

People & Lifestyle

Median Age
34.4 yr
34.3 yr
+0.1 yr in Charlotte, NC
Homeownership
51.5%
46.0%
+5.5 pp in Charlotte, NC
Bachelor's+ (25+)
47.4%
28.2%
+19.2 pp in Charlotte, NC
Avg Commute
25.0 min
21.3 min
+3.7 min in Charlotte, NC

Crime (per 100k/yr)

Violent Crime
733.1
2,507.5
+242% in Memphis, TN
Property Crime
3,719
6,965.8
+87% 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
59.9°F
63.1°F
+3.2°F in Memphis, TN
Annual Precipitation
41.6 in
53.7 in
+12.0 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)
$2.20
$1.75
+20% in Charlotte, NC

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

Utilities

Electricity (¢/kWh)
16.0
15.1
+6% in Charlotte, NC
Natural Gas ($/MCF)
$17.50
$15.54
+11% in Charlotte, NC

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

Groceries

Milk (gal)
$4.16
$4.16
about equal
Bread (lb)
$1.73
$1.73
about equal
Eggs (doz)
$2.19
$2.19
about equal
Ground Beef (lb)
$6.56
$6.56
about equal
Chicken (lb)
$1.90
$1.90
about equal
Bananas (lb)
$0.61
$0.61
about equal

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

State Taxes

Sales Tax (NC / TN)
4.75%
7%
+2.3 pp in TN
Income Tax (top rate)
3.99%
None
+4.0 pp in NC

Charlotte vs Memphis — FAQ

Is it cheaper to live in Charlotte or Memphis?
Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 28% below Charlotte, NC's $1,550, mainly because of rent.
How much more do you need to earn to live in Charlotte than in Memphis?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $55,000 a year in Charlotte versus $38,000 in Memphis.
Which has lower taxes, Charlotte or Memphis?
Charlotte is taxed under North Carolina's rules (a top state income tax rate of 3.99% and a 4.75% 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).