Living Cost Compare
Memphis

Tennessee

$1,110/mo est.

vs
Tampa

Florida

$1,500/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 $1,500 in Tampa, FL. Overall, Memphis, TN is roughly 26% cheaper to live in day-to-day than Tampa, FL, driven mainly by rent.

Median household income is $51,211 in Memphis, TN and $71,302 in Tampa, FL — about 28% higher in Tampa, FL. Tennessee has no state income tax and a 7% state sales tax; Florida has no state income tax and a 6% state sales tax.

Memphis, TN
Tampa, FL

Rent

Studio
$877
$1,242
+42% in Tampa, FL
1 Bedroom
$948
$1,324
+40% in Tampa, FL
2 Bedroom
$1,073
$1,673
+56% in Tampa, FL
3 Bedroom
$1,281
$1,729
+35% in Tampa, FL

Buying a Home

Median Home Value
$157,100
$375,300
+139% in Tampa, FL

Income

Median Household Income
$51,211
$71,302
+39% in Tampa, FL
Metro Median Wage (annual)
$46,890
$48,940
+4% in Tampa, FL

People & Lifestyle

Median Age
34.3 yr
35.6 yr
+1.3 yr in Tampa, FL
Homeownership
46.0%
50.2%
+4.2 pp in Tampa, FL
Bachelor's+ (25+)
28.2%
44.6%
+16.4 pp in Tampa, FL
Avg Commute
21.3 min
24.7 min
+3.4 min in Tampa, FL

Crime (per 100k/yr)

Violent Crime
2,507.5
443.4
+82% in Memphis, TN
Property Crime
6,965.8
1,473.2
+79% 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
73.4°F
+10.3°F in Tampa, FL
Annual Precipitation
53.7 in
46.3 in
+7.4 in in Memphis, TN

Gas

Regular Gasoline
$4.35/gal
$4.25/gal
+2% in Memphis, TN

Area: Midwest (PADD 2) vs Florida.

Public Transit

Base Fare (one-way)
$1.75
$2.00
+14% in Tampa, FL

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

Utilities

Electricity (¢/kWh)
15.1
14.9
+1% in Memphis, TN
Natural Gas ($/MCF)
$15.54
$23.62
+52% in Tampa, FL

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 / FL)
7%
6%
+1.0 pp in TN
Income Tax (top rate)
None
None
about equal

Memphis vs Tampa — FAQ

Is it cheaper to live in Memphis or Tampa?
Memphis, TN is cheaper. Its monthly baseline of $1,110 (1BR rent + utilities) runs about 26% below Tampa, FL's $1,500, mainly because of rent.
How much more do you need to earn to live in Memphis than in Tampa?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $38,000 a year in Memphis versus $53,000 in Tampa.
Which has lower taxes, Memphis or Tampa?
Memphis is taxed under Tennessee's rules (no state income tax and a 7% state sales tax); Tampa under Florida's (no state income tax 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).