Is it cheaper to live in Evansville or Memphis?

Evansville, IN is cheaper. Its monthly baseline of $950 (1BR rent + utilities) runs about 14% below Memphis, TN's $1,110, mainly because of rent.

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

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

Which has lower taxes, Evansville or Memphis?

Evansville is taxed under Indiana's rules (a top state income tax rate of 2.95% and a 7% state sales tax); Memphis under Tennessee's (no state income tax and a 7% state sales tax).

Evansville vs Memphis Cost of Living 2026

Evansville

Indiana

$950/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 $950 in Evansville, IN versus $1,110 in Memphis, TN. Overall, Evansville, IN is roughly 14% cheaper to live in day-to-day than Memphis, TN, driven mainly by rent.

Median household income is $52,251 in Evansville, IN and $51,211 in Memphis, TN — about 2% higher in Evansville, IN. Indiana has a top state income tax rate of 2.95% and a 7% state sales tax; Tennessee has no state income tax and a 7% state sales tax.

Evansville, IN

Memphis, TN

Rent

Studio

$741

$877

+18% in Memphis, TN

1 Bedroom

$768

$948

+23% in Memphis, TN

2 Bedroom

$1,022

$1,073

+5% in Memphis, TN

3 Bedroom

$1,167

$1,281

+10% in Memphis, TN

Buying a Home

Median Home Value

$129,100

$157,100

+22% in Memphis, TN

Income

Median Household Income

$52,251

$51,211

+2% in Evansville, IN

Metro Median Wage (annual)

$46,540

$46,890

+1% in Memphis, TN

People & Lifestyle

Median Age

38.1 yr

34.3 yr

+3.8 yr in Evansville, IN

Homeownership

53.9%

46.0%

+7.9 pp in Evansville, IN

Bachelor's+ (25+)

22.3%

28.2%

+5.9 pp in Memphis, TN

Avg Commute

18.7 min

21.3 min

+2.6 min in Memphis, TN

Crime (per 100k/yr)

Violent Crime

1,210.5

2,507.6

+107% in Memphis, TN

Property Crime

3,716.2

6,966.3

+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

56.4°F

63.1°F

+6.7°F in Memphis, TN

Annual Precipitation

45.3 in

53.7 in

+8.4 in in Memphis, TN

Gas

Regular Gasoline

$3.94/gal

about equal

Area: Midwest (PADD 2) vs Midwest (PADD 2).

Public Transit

Base Fare (one-way)

—

$1.75

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

Utilities

Electricity (¢/kWh)

18.1

14.5

+20% in Evansville, IN

Natural Gas ($/MCF)

$13.70

$16.83

+23% in Memphis, TN

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

Groceries

Milk (gal)

$4.31

$4.00

+7% in Evansville, IN

Bread (lb)

$1.66

$1.75

+5% in Memphis, TN

Eggs (doz)

$3.63

$2.21

+39% in Evansville, IN

Ground Beef (lb)

$6.77

$6.45

+5% in Evansville, IN

Chicken (lb)

$2.10

$1.90

+9% in Evansville, IN

Bananas (lb)

$0.62

about equal

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

State Taxes

Sales Tax (IN / TN)

about equal

Income Tax (top rate)

2.95%

None

+3.0 pp in IN

Evansville vs Memphis — FAQ

Is it cheaper to live in Evansville or Memphis?: Evansville, IN is cheaper. Its monthly baseline of $950 (1BR rent + utilities) runs about 14% below Memphis, TN's $1,110, mainly because of rent.
How much more do you need to earn to live in Evansville than in Memphis?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $31,000 a year in Evansville versus $38,000 in Memphis.
Which has lower taxes, Evansville or Memphis?: Evansville is taxed under Indiana's rules (a top state income tax rate of 2.95% and a 7% 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).