Is it cheaper to live in Denver or Memphis?

Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 37% below Denver, CO's $1,750, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $63,000 a year in Denver versus $38,000 in Memphis.

Which has lower taxes, Denver or Memphis?

Denver is taxed under Colorado's rules (a top state income tax rate of 4.40% and a 2.9% state sales tax); Memphis under Tennessee's (no state income tax and a 7% state sales tax).

Denver vs Memphis Cost of Living 2026

Denver

Colorado

$1,750/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 $1,750 in Denver, CO versus $1,110 in Memphis, TN. Overall, Memphis, TN is roughly 37% cheaper to live in day-to-day than Denver, CO, driven mainly by rent.

Median household income is $91,681 in Denver, CO and $51,211 in Memphis, TN — about 44% higher in Denver, CO. Colorado has a top state income tax rate of 4.40% and a 2.9% state sales tax; Tennessee has no state income tax and a 7% state sales tax.

Denver, CO

Memphis, TN

Rent

Studio

$1,497

$877

+41% in Denver, CO

1 Bedroom

$1,583

$948

+40% in Denver, CO

2 Bedroom

$1,958

$1,073

+45% in Denver, CO

3 Bedroom

$2,269

$1,281

+44% in Denver, CO

Buying a Home

Median Home Value

$586,700

$157,100

+73% in Denver, CO

Income

Median Household Income

$91,681

$51,211

+44% in Denver, CO

Metro Median Wage (annual)

$62,320

$46,890

+25% in Denver, CO

People & Lifestyle

Median Age

35.2 yr

34.3 yr

+0.9 yr in Denver, CO

Homeownership

49.1%

46.0%

+3.1 pp in Denver, CO

Bachelor's+ (25+)

55.6%

28.2%

+27.4 pp in Denver, CO

Avg Commute

25.4 min

21.3 min

+4.1 min in Denver, CO

Crime (per 100k/yr)

Violent Crime

998.3

2,507.5

+151% in Memphis, TN

Property Crime

4,781.9

6,965.8

+46% 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

50.2°F

63.1°F

+12.9°F in Memphis, TN

Annual Precipitation

15.6 in

53.7 in

+38.1 in in Memphis, TN

Gas

Regular Gasoline

$4.58/gal

$4.35/gal

+5% in Denver, CO

Area: Denver vs Midwest (PADD 2).

Public Transit

Base Fare (one-way)

$2.75

$1.75

+36% in Denver, CO

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

Utilities

Electricity (¢/kWh)

16.7

15.1

+10% in Denver, CO

Natural Gas ($/MCF)

$11.64

$15.54

+34% in Memphis, TN

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

Groceries

Milk (gal)

$4.37

$4.16

+5% in Denver, CO

Bread (lb)

$2.10

$1.73

+18% in Denver, CO

Eggs (doz)

$2.25

$2.19

+3% in Denver, CO

Ground Beef (lb)

$7.23

$6.56

+9% in Denver, CO

Chicken (lb)

$2.14

$1.90

+11% in Denver, CO

Bananas (lb)

$0.74

$0.61

+17% in Denver, CO

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

State Taxes

Sales Tax (CO / TN)

2.9%

+4.1 pp in TN

Income Tax (top rate)

4.40%

None

+4.4 pp in CO

Denver vs Memphis — FAQ

Is it cheaper to live in Denver or Memphis?: Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 37% below Denver, CO's $1,750, mainly because of rent.
How much more do you need to earn to live in Denver than in Memphis?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $63,000 a year in Denver versus $38,000 in Memphis.
Which has lower taxes, Denver or Memphis?: Denver is taxed under Colorado's rules (a top state income tax rate of 4.40% and a 2.9% 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).