Is it cheaper to live in Memphis or Springfield?

Springfield, MO is cheaper. Its monthly baseline of $940 (1BR rent + utilities) runs about 15% below Memphis, TN's $1,110, mainly because of rent.

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

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

Which has lower taxes, Memphis or Springfield?

Memphis is taxed under Tennessee's rules (no state income tax and a 7% state sales tax); Springfield under Missouri's (a top state income tax rate of 4.70% and a 4.225% state sales tax).

Memphis vs Springfield Cost of Living 2026

Memphis

Tennessee

$1,110/mo est.

Springfield

Missouri

$940/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 $940 in Springfield, MO. Overall, Springfield, MO is roughly 15% cheaper to live in day-to-day than Memphis, TN, driven mainly by rent.

Median household income is $51,211 in Memphis, TN and $45,984 in Springfield, MO — about 10% higher in Memphis, TN. Tennessee has no state income tax and a 7% state sales tax; Missouri has a top state income tax rate of 4.70% and a 4.225% state sales tax.

Memphis, TN

Springfield, MO

Rent

Studio

$877

$760

+13% in Memphis, TN

1 Bedroom

$948

$772

+19% in Memphis, TN

2 Bedroom

$1,073

$926

+14% in Memphis, TN

3 Bedroom

$1,281

$1,158

+10% in Memphis, TN

Buying a Home

Median Home Value

$157,100

$165,200

+5% in Springfield, MO

Income

Median Household Income

$51,211

$45,984

+10% in Memphis, TN

Metro Median Wage (annual)

$46,890

$45,780

+2% in Memphis, TN

People & Lifestyle

Median Age

34.3 yr

33.6 yr

+0.7 yr in Memphis, TN

Homeownership

46.0%

42.9%

+3.1 pp in Memphis, TN

Bachelor's+ (25+)

28.2%

30.3%

+2.1 pp in Springfield, MO

Avg Commute

21.3 min

18.0 min

+3.3 min in Memphis, TN

Crime (per 100k/yr)

Violent Crime

2,507.6

1,189.8

+53% in Memphis, TN

Property Crime

6,966.3

4,231.6

+39% 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

56.3°F

+6.8°F in Memphis, TN

Annual Precipitation

53.7 in

45.6 in

+8.1 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 — MATA vs — (2026).

Utilities

Electricity (¢/kWh)

14.5

13.7

+5% in Memphis, TN

Natural Gas ($/MCF)

$16.83

$24.13

+43% in Springfield, MO

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

Groceries

Milk (gal)

$4.00

$4.31

+8% in Springfield, MO

Bread (lb)

$1.75

$1.66

+5% in Memphis, TN

Eggs (doz)

$2.21

$3.63

+64% in Springfield, MO

Ground Beef (lb)

$6.45

$6.77

+5% in Springfield, MO

Chicken (lb)

$1.90

$2.10

+10% in Springfield, MO

Bananas (lb)

$0.62

about equal

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

State Taxes

Sales Tax (TN / MO)

4.225%

+2.8 pp in TN

Income Tax (top rate)

None

4.70%

+4.7 pp in MO

Memphis vs Springfield — FAQ

Is it cheaper to live in Memphis or Springfield?: Springfield, MO is cheaper. Its monthly baseline of $940 (1BR rent + utilities) runs about 15% below Memphis, TN's $1,110, mainly because of rent.
How much more do you need to earn to live in Memphis than in Springfield?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $38,000 a year in Memphis versus $31,000 in Springfield.
Which has lower taxes, Memphis or Springfield?: Memphis is taxed under Tennessee's rules (no state income tax and a 7% state sales tax); Springfield under Missouri's (a top state income tax rate of 4.70% and a 4.225% 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).