Is it cheaper to live in Memphis or Meridian?

Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 34% below Meridian, ID's $1,690, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $38,000 a year in Memphis versus $62,000 in Meridian.

Which has lower taxes, Memphis or Meridian?

Memphis is taxed under Tennessee's rules (no state income tax and a 7% state sales tax); Meridian under Idaho's (a top state income tax rate of 5.30% and a 6% state sales tax).

Memphis vs Meridian Cost of Living 2026

Memphis

Tennessee

$1,110/mo est.

Meridian

Idaho

$1,690/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,110 in Memphis, TN versus $1,690 in Meridian, ID. Overall, Memphis, TN is roughly 34% cheaper to live in day-to-day than Meridian, ID, driven mainly by rent.

Median household income is $51,211 in Memphis, TN and $98,686 in Meridian, ID — about 48% higher in Meridian, ID. Tennessee has no state income tax and a 7% state sales tax; Idaho has a top state income tax rate of 5.30% and a 6% state sales tax.

Memphis, TN

Meridian, ID

Rent

Studio

$877

$1,523

+74% in Meridian, ID

1 Bedroom

$948

$1,540

+62% in Meridian, ID

2 Bedroom

$1,073

$1,489

+39% in Meridian, ID

3 Bedroom

$1,281

$1,893

+48% in Meridian, ID

Buying a Home

Median Home Value

$157,100

$485,000

+209% in Meridian, ID

Income

Median Household Income

$51,211

$98,686

+93% in Meridian, ID

Metro Median Wage (annual)

$46,890

$49,100

+5% in Meridian, ID

People & Lifestyle

Median Age

34.3 yr

37.4 yr

+3.1 yr in Meridian, ID

Homeownership

46.0%

76.1%

+30.1 pp in Meridian, ID

Bachelor's+ (25+)

28.2%

44.4%

+16.2 pp in Meridian, ID

Avg Commute

21.3 min

22.3 min

+1.0 min in Meridian, ID

Crime (per 100k/yr)

Violent Crime

2,507.6

150.3

+94% in Memphis, TN

Property Crime

6,966.3

583.5

+92% 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

63.1°F

52.5°F

+10.6°F in Memphis, TN

Annual Precipitation

53.7 in

11.7 in

+42.0 in in Memphis, TN

Gas

Regular Gasoline

$3.85/gal

$4.27/gal

+11% in Meridian, ID

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

Public Transit

Base Fare (one-way)

$1.75

—

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

Utilities

Electricity (¢/kWh)

14.1

14.4

+2% in Meridian, ID

Natural Gas ($/MCF)

$19.75

$11.33

+43% in Memphis, TN

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

Groceries

Milk (gal)

$4.00

$4.82

+20% in Meridian, ID

Bread (lb)

$1.75

$2.04

+17% in Meridian, ID

Eggs (doz)

$2.21

$2.19

+1% in Memphis, TN

Ground Beef (lb)

$6.45

$7.36

+14% in Meridian, ID

Chicken (lb)

$1.90

$2.01

+6% in Meridian, ID

Bananas (lb)

$0.62

$0.70

+14% in Meridian, ID

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

State Taxes

Sales Tax (TN / ID)

+1.0 pp in TN

Income Tax (top rate)

None

5.30%

+5.3 pp in ID

Memphis vs Meridian — FAQ

Is it cheaper to live in Memphis or Meridian?: Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 34% below Meridian, ID's $1,690, mainly because of rent.
How much more do you need to earn to live in Memphis than in Meridian?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $38,000 a year in Memphis versus $62,000 in Meridian.
Which has lower taxes, Memphis or Meridian?: Memphis is taxed under Tennessee's rules (no state income tax and a 7% state sales tax); Meridian under Idaho's (a top state income tax rate of 5.30% and a 6% 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).