By Ziv Shay | Updated April 2026
Side-by-side cost of living comparison for 2026
Median Income: $41,228
Population: 633,104
Median Income: $56,831
Population: 1,343,573
When comparing Memphis and Dallas, the overall cost of living differs by 26.3%. Dallas carries a cost index of 96 compared to Memphis's 76, meaning your dollar stretches 21% further in Memphis.
Housing is where the most significant gap appears between these two cities. Memphis has a housing index of 62 compared to Dallas's 95. This 33-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 $75,789 in Dallas to maintain the same standard of living. For a $100,000 salary, the equivalent would be $126,316.
The median household income in Memphis is $41,228 compared to $56,831 in Dallas. Dallas has higher incomes, though the higher cost of living may offset this advantage.
Safety: Memphis scores 3/10 while Dallas scores 5/10 in our safety assessment.
Weather: Both cities score similarly for weather at 6/10.
Job Market: Dallas has the stronger job market (8/10) 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. Dallas may justify its higher costs with a thriving job market that many residents find worthwhile.
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