Is it cheaper to live in Memphis or Reno?

Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 18% below Reno, NV's $1,350, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $38,000 a year in Memphis versus $48,000 in Reno.

Which has lower taxes, Memphis or Reno?

Memphis is taxed under Tennessee's rules (no state income tax and a 7% state sales tax); Reno under Nevada's (no state income tax and a 6.85% state sales tax).

Memphis vs Reno Cost of Living 2026

Memphis

Tennessee

$1,110/mo est.

Reno

Nevada

$1,350/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 $1,350 in Reno, NV. Overall, Memphis, TN is roughly 18% cheaper to live in day-to-day than Reno, NV, driven mainly by rent.

Median household income is $51,211 in Memphis, TN and $78,448 in Reno, NV — about 35% higher in Reno, NV. Tennessee has no state income tax and a 7% state sales tax; Nevada has no state income tax and a 6.85% state sales tax.

Memphis, TN

Reno, NV

Rent

Studio

$877

$964

+10% in Reno, NV

1 Bedroom

$948

$1,206

+27% in Reno, NV

2 Bedroom

$1,073

$1,518

+41% in Reno, NV

3 Bedroom

$1,281

$1,885

+47% in Reno, NV

Buying a Home

Median Home Value

$157,100

$498,600

+217% in Reno, NV

Income

Median Household Income

$51,211

$78,448

+53% in Reno, NV

Metro Median Wage (annual)

$46,890

$49,660

+6% in Reno, NV

People & Lifestyle

Median Age

34.3 yr

37.3 yr

+3.0 yr in Reno, NV

Homeownership

46.0%

49.4%

+3.4 pp in Reno, NV

Bachelor's+ (25+)

28.2%

35.7%

+7.5 pp in Reno, NV

Avg Commute

21.3 min

20.6 min

+0.7 min in Memphis, TN

Crime (per 100k/yr)

Violent Crime

2,507.6

528.9

+79% in Memphis, TN

Property Crime

6,966.3

2,489.3

+64% 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

53.8°F

+9.3°F in Memphis, TN

Annual Precipitation

53.7 in

7.4 in

+46.3 in in Memphis, TN

Gas

Regular Gasoline

$3.94/gal

$5.09/gal

+29% in Reno, NV

Area: Midwest (PADD 2) vs West Coast (PADD 5).

Public Transit

Base Fare (one-way)

$1.75

—

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

Utilities

Electricity (¢/kWh)

14.5

13.6

+6% in Memphis, TN

Natural Gas ($/MCF)

$16.83

$12.09

+28% in Memphis, TN

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

Groceries

Milk (gal)

$4.00

$4.82

+20% in Reno, NV

Bread (lb)

$1.75

$2.04

+17% in Reno, NV

Eggs (doz)

$2.21

$2.19

+1% in Memphis, TN

Ground Beef (lb)

$6.45

$7.36

+14% in Reno, NV

Chicken (lb)

$1.90

$2.01

+6% in Reno, NV

Bananas (lb)

$0.62

$0.70

+14% in Reno, NV

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

State Taxes

Sales Tax (TN / NV)

6.85%

+0.2 pp in TN

Income Tax (top rate)

None

about equal

Memphis vs Reno — FAQ

Is it cheaper to live in Memphis or Reno?: Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 18% below Reno, NV's $1,350, mainly because of rent.
How much more do you need to earn to live in Memphis than in Reno?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $38,000 a year in Memphis versus $48,000 in Reno.
Which has lower taxes, Memphis or Reno?: Memphis is taxed under Tennessee's rules (no state income tax and a 7% state sales tax); Reno under Nevada's (no state income tax and a 6.85% 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).