Side-by-side cost of living comparison for 2026
Median Income: $41,228
Population: 633,104
Median Income: $75,413
Population: 978,908
When comparing Memphis and Austin, the overall cost of living differs by 42.1%. Austin carries a cost index of 108 compared to Memphis's 76, meaning your dollar stretches 30% further in Memphis.
Housing is where the most significant gap appears between these two cities. Memphis has a housing index of 62 compared to Austin's 120. This 58-point difference translates to substantial monthly savings on rent or mortgage payments in Memphis.
Memphis is more affordable for: Housing, Food & Groceries, Transportation, Healthcare, Utilities, Entertainment, Taxes.
If you earn $60,000 in Memphis, you would need $85,263 in Austin to maintain the same standard of living. For a $100,000 salary, the equivalent would be $142,105.
The median household income in Memphis is $41,228 compared to $75,413 in Austin. Austin has higher incomes, though the higher cost of living may offset this advantage.
Safety: Memphis scores 3/10 while Austin scores 7/10 in our safety assessment.
Weather: Both cities score similarly for weather at 6/10.
Job Market: Austin has the stronger job market (9/10) compared to Memphis (5/10).
Memphis is the more affordable option overall, but cost is just one factor in deciding where to live. Consider your career opportunities, family needs, and lifestyle preferences alongside the financial comparison. Austin may justify its higher costs with a thriving job market that many residents find worthwhile.
