Living Cost Compare
Memphis

Tennessee

$1,110/mo est.

vs
New Orleans

Louisiana

$1,170/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 $1,170 in New Orleans, LA. Overall, Memphis, TN is roughly 5% cheaper to live in day-to-day than New Orleans, LA, driven mainly by rent.

Median household income is $51,211 in Memphis, TN and $55,339 in New Orleans, LA — about 7% higher in New Orleans, LA. Tennessee has no state income tax and a 7% state sales tax; Louisiana has a top state income tax rate of 3.00% and a 5% state sales tax.

Memphis, TN
New Orleans, LA

Rent

Studio
$877
$953
+9% in New Orleans, LA
1 Bedroom
$948
$1,019
+7% in New Orleans, LA
2 Bedroom
$1,073
$1,287
+20% in New Orleans, LA
3 Bedroom
$1,281
$1,392
+9% in New Orleans, LA

Buying a Home

Median Home Value
$157,100
$296,400
+89% in New Orleans, LA

Income

Median Household Income
$51,211
$55,339
+8% in New Orleans, LA
Metro Median Wage (annual)
$46,890
$47,290
+1% in New Orleans, LA

People & Lifestyle

Median Age
34.3 yr
38.4 yr
+4.1 yr in New Orleans, LA
Homeownership
46.0%
50.5%
+4.5 pp in New Orleans, LA
Bachelor's+ (25+)
28.2%
42.0%
+13.8 pp in New Orleans, LA
Avg Commute
21.3 min
22.7 min
+1.4 min in New Orleans, LA

Crime (per 100k/yr)

Violent Crime
2,507.5
1,361.1
+46% in Memphis, TN
Property Crime
6,965.8
5,089.6
+27% 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
70.6°F
+7.5°F in New Orleans, LA
Annual Precipitation
53.7 in
62.3 in
+8.6 in in New Orleans, LA

Gas

Regular Gasoline
$4.35/gal
$3.99/gal
+8% in Memphis, TN

Area: Midwest (PADD 2) vs Gulf Coast (PADD 3).

Public Transit

Base Fare (one-way)
$1.75
$1.25
+29% in Memphis, TN

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

Utilities

Electricity (¢/kWh)
15.1
14.2
+6% in Memphis, TN
Natural Gas ($/MCF)
$15.54
$16.62
+7% in New Orleans, LA

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 (TN / LA)
7%
5%
+2.0 pp in TN
Income Tax (top rate)
None
3.00%
+3.0 pp in LA

Memphis vs New Orleans — FAQ

Is it cheaper to live in Memphis or New Orleans?
Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 5% below New Orleans, LA's $1,170, mainly because of rent.
How much more do you need to earn to live in Memphis than in New Orleans?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $38,000 a year in Memphis versus $41,000 in New Orleans.
Which has lower taxes, Memphis or New Orleans?
Memphis is taxed under Tennessee's rules (no state income tax and a 7% state sales tax); New Orleans under Louisiana's (a top state income tax rate of 3.00% and a 5% 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).