Last update: Nov 2026

Cost of Living Comparison Between Memphis, TN and Lima

For one person, living is cheaper in Lima: $1,042 a month against $2,337 in Memphis, TN, rent and utilities included – about $15,500 less a year. Rent and utilities account for most of the difference.

111

Cost of Living Index in Memphis, TN
Learn more

Memphis, TN Living Index
50

Cost of Living Index in Lima
Learn more

Lima Living Index

Jump to prices

Memphis, TN

🇺🇸 United States

$2,337

/mo nomad

Lima

🇵🇪 Peru

$1,042

/mo nomad

Monthly Cost of Living

How much you'll spend in Memphis, TN and in Lima

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Memphis, TN and in Lima actually costs, broken down by who's living it.

Monthly costs for one person with rent: $2,337 in Memphis, TN versus $1,042 in Lima.

Memphis, TN $2,337
Lima $1,042

Estimated couple costs with rent: $3,486 in Memphis, TN versus $1,651 in Lima.

Memphis, TN $3,486
Lima $1,651

Monthly costs for a family of three with rent: $4,635 in Memphis, TN versus $2,259 in Lima.

Memphis, TN $4,635
Lima $2,259

Living in Memphis, TN is roughly 124% more expensive than in Lima, and outside of rent the biggest gap is in eating out.

The two cities straddle the global median: Memphis, TN is 73% above, Lima is 23% below.

Meal at Budget Restaurant

$18.27 $18.27

$4.64 PEN 15.95

293.75%

Three-Course Dinner for Two, Mid-Range

$75.7 $75.7

$34.34 PEN 118

120.47%

Fast Food Meal (McDonalds, etc)

$11.89 $11.89

$7.01 PEN 24.12

69.61%

Cappuccino

$5.57 $5.57

$3.22 PEN 11.09

72.98%

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$2.48 $2.48

$1.13 PEN 3.90

119.47%

Water (0.33 liter bottle)

$1.96 $1.96

$0.61 PEN 2.09

221.31%

Local Beer (0.5 liter draught)

$6.79 $6.79

$2.93 PEN 10.07

131.74%

Imported Beer (0.33 liter bottle)

$8.13 $8.13

$4.25 PEN 14.63

91.29%

Milk (1 liter)

$0.97 $0.97

$1.58 PEN 5.44

-38.61%

White Bread (500g)

$3.11 $3.11

$2.61 PEN 8.98

19.16%

Rice (white) (1kg)

$4.12 $4.12

$1.30 PEN 4.46

216.92%

Eggs

$3.83 $3.83

$2.92 PEN 10.04

31.16%

Local Cheese (1kg)

$13.13 $13.13

$9.54 PEN 32.82

37.63%

Chicken Fillets (1kg)

$11.31 $11.31

$5.71 PEN 19.66

98.07%

Beef Round Steak (1kg)

$18.85 $18.85

$9.47 PEN 32.57

99.05%

Apples (1kg)

$5.77 $5.77

$2.01 PEN 6.91

187.06%

Banana (1kg)

$1.79 $1.79

$1.02 PEN 3.52

75.49%

Oranges (1kg)

$5.78 $5.78

$1.45 PEN 4.99

298.62%

Tomato (1kg)

$4.76 $4.76

$1.49 PEN 5.14

219.46%

Potato (1kg)

$3.13 $3.13

$0.91 PEN 3.14

243.96%

Onion (1kg)

$4.18 $4.18

$0.89 PEN 3.07

369.66%

Lettuce (1 head)

$2.63 $2.63

$0.86 PEN 2.97

205.81%

Water (1.5 liter bottle)

$2.23 $2.23

$0.89 PEN 3.05

150.56%

Cigarettes 20 Pack (Marlboro, Camel)

$9.28 $9.28

$5.47 PEN 18.83

69.65%

Wine (Bottle)

$12.77 $12.77

$10.17 PEN 34.99

25.57%

Local Beer (0.5 liter bottle)

$1.77 $1.77

$1.81 PEN 6.21

-2.21%

Imported Beer (0.33 liter bottle)

$2.16 $2.16

$3.15 PEN 10.83

-31.43%

One-way Ticket (Public Transport)

$0.97 $0.97

$0.66 PEN 2.28

46.97%

Public Transport Monthly Pass (Regular Price)

$27.31 $27.31

$31.89 PEN 110

-14.36%

Taxi Start (Normal Tariff)

$1.95 $1.95

$3.43 PEN 11.79

-43.15%

Taxi (Normal Tariff) (1km)

$1.15 $1.15

$1.98 PEN 6.80

-41.92%

Taxi 1hour Waiting (Normal Tariff)

$20.24 $20.24

$9.60 PEN 33.03

110.83%

Gasoline (1 liter)

$0.99 $0.99

$1.71 PEN 5.89

-42.11%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$27.7K $27.7K

$21.9K PEN 75.2K

26.69%

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$26.9K $26.9K

$29.0K PEN 99.9K

-7.54%

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$187 $187

$65.8 PEN 227

184.64%

SIM Card Monthly Plan (Calls and 10GB+ Data)

$85.0 $85.0

$15.26 PEN 52.5

456.68%

Internet (50+ Mbps, Unlimited Data)

$74.2 $74.2

$26.87 PEN 92.5

176.00%

Gym Membership (Monthly)

$29.43 $29.43

$32.91 PEN 113

-10.57%

Tennis Court (1 Hour on Weekend)

$16.53 $16.53

$20.12 PEN 69.2

-17.84%

Cinema Ticket

$15.23 $15.23

$7.12 PEN 24.49

113.90%

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$1,714 $1,714

$309 PEN 1,063

454.44%

International Primary School, 1 Child (Yearly)

$26.6K $26.6K

$21.4K PEN 73.5K

24.72%

Jeans (Levis 501 Or Similar)

$46.84 $46.84

$52.0 PEN 179

-9.89%

Summer Dress (H&M, Zara, etc)

$32.23 $32.23

$35.69 PEN 123

-9.69%

Sport Shoes (Adidas, Nike)

$83.0 $83.0

$81.8 PEN 281

1.52%

Men's Leather Business Shoes

$155 $155

$78.0 PEN 268

98.54%

1-bedroom Apartment, City Center (Monthly)

$1,386 $1,386

$727 PEN 2,501

90.69%

1-bedroom Apartment, Outside City Center (Monthly)

$1,028 $1,028

$373 PEN 1,284

175.43%

3-bedroom Apartment, City Center (Monthly)

$2,174 $2,174

$1,249 PEN 4,296

74.11%

3-bedroom Apartment, Outside City Center (Monthly)

$1,716 $1,716

$739 PEN 2,543

132.10%

Buy Apartment in City Center (m2)

$1,811 $1,811

$2,380 PEN 8,190

-23.90%

Buy Apartment Outside City Center (m2)

$1,328 $1,328

$1,365 PEN 4,696

-2.70%

Average Monthly Net Salary (After Tax)

$3,660 $3,660

$650 PEN 2,237

462.82%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.6

8.38

-21.24%

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Memphis, TN: November 3, 2026

Last update for Lima: October 31, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Memphis, TN

$1K 44%

Lima

$373 35.8% 63.7% $654

Groceries & Markets

Memphis, TN

$405 17.3%

Lima

$228 21.9% 43.7% $177

Monthly Utilities & Internet

Memphis, TN

$346 14.8%

Lima

$108 10.4% 68.8% $239

Eating Out

Memphis, TN

$317 13.6%

Lima

$127 12.2% 59.9% $190

Clothing & Footwear

Memphis, TN

$143 6.1%

Lima

$111 10.7% 21.9% $31

Sport & Entertainment

Memphis, TN

$60 2.6%

Lima

$47 4.5% 21.3% $13

Getting Around

Memphis, TN

$39 1.7%

Lima

$48 4.6% 23% $8.9

Cost Breakdown

A one-bedroom apartment in the center runs $1,386 in Memphis, TN and $727 in Lima. Housing cost is often the main lever when comparing two cities.

Memphis, TN pays about 5.6 times more on average. How far that income stretches comes down to housing choices and lifestyle.

Dining out: $76 in Memphis, TN vs $34 in Lima for a mid-range dinner for two. Groceries echo the gap at $405 vs $228 per month, with Lima cheaper across the board.

Good to know

🇺🇸 Memphis, TN

🇵🇪 Lima

🕒 Local time

09:19 9:19 AM

10:19 10:19 AM

1 h ahead of Memphis, TN

🌤 Weather

👥 Population

633,104

9,989,369 Capital

💱 Currency

United States Dollar USD $

Peruvian Sol PEN S/

📈 Exchange rate

1 USD = 0.89 EUR

1 PEN = 0.291 USD

1 PEN = 0.259 EUR

Exchange rates and currency converter

PEN, EUR to USD – United States Dollar Converter

🇵🇪 Peruvian Sol (S/)

🇺🇸 United States Dollar ($)

United States Dollar exchange rates as of November 6, 2026: 1 EUR = 1.12 USD (1 USD = 0.89 EUR).

Peruvian Sol exchange rates as of November 6, 2026: 1 USD = 3.44 PEN (1 PEN = 0.291 USD). 1 EUR = 3.86 PEN (1 PEN = 0.259 EUR).

PEN to USD in detail →

On the map

Lowest

Highest

Between locations

Memphis, TN Lima 5,430 km ≈ 7 h nonstop flight

From you

Memphis, TN
Lima

Distances are measured in a straight line. Your location is detected approximately.

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Memphis, TN vs Lima: Cost of Living - Frequently Asked Questions

Total monthly costs including rent come to $2,337 in Memphis, TN and $1,042 in Lima, so Lima is about 55% cheaper – a gap that matters a lot on a fixed or modest income.

Average pay in Memphis, TN is about 5.6 times higher, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $1,386 in Memphis, TN versus $727 in Lima. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $1,714 in Memphis, TN versus $309 in Lima. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Supermarket bills run roughly 78% higher in Memphis, TN. For households that cook at home regularly, that difference adds up over a month.

At $1,042 in Lima versus $2,337 in Memphis, TN, a $2,000 budget is realistic in Lima but tight or insufficient in Memphis, TN. The gap between the two cities makes Lima the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

It comes down to priorities – Lima wins on affordability, Memphis, TN on earning potential. Factor in climate, language, visa rules, and proximity to places that matter to you before deciding.