Side-by-side cost of living comparison for 2026
Median Income: $41,228
Population: 633,104
Median Income: $60,931
Population: 1,608,139
When comparing Memphis and Phoenix, the overall cost of living differs by 31.6%. Phoenix carries a cost index of 100 compared to Memphis's 76, meaning your dollar stretches 24% further in Memphis.
Housing is where the most significant gap appears between these two cities. Memphis has a housing index of 62 compared to Phoenix's 102. This 40-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 $78,947 in Phoenix to maintain the same standard of living. For a $100,000 salary, the equivalent would be $131,579.
The median household income in Memphis is $41,228 compared to $60,931 in Phoenix. Phoenix has higher incomes, though the higher cost of living may offset this advantage.
Safety: Memphis scores 3/10 while Phoenix scores 6/10 in our safety assessment.
Weather: Phoenix enjoys better weather with a score of 7/10 versus Memphis's 6/10.
Job Market: Phoenix has the stronger job market (7/10) 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. Phoenix may justify its higher costs with unique cultural amenities that many residents find worthwhile.
