Last update: Oct 2026

Cost of Living Comparison Between Memphis, TN and New York, NY

For one person, living is cheaper in Memphis, TN: $2,501 a month against $4,950 in New York, NY, rent and utilities included – about $29,400 less a year. Rent and utilities account for most of the difference.

122

Cost of Living Index in Memphis, TN
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Memphis, TN Living Index
239

Cost of Living Index in New York, NY
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New York, NY Living Index

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Memphis, TN

🇺🇸 United States

$2,501

/mo nomad

New York, NY

🇺🇸 United States

$4,950

/mo nomad

Monthly Cost of Living

How much you'll spend in Memphis, TN and in New York, NY

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 New York, NY actually costs, broken down by who's living it.

A single person spends $2,501 per month in Memphis, TN vs $4,950 in New York, NY, rent included.

Memphis, TN $2,501
New York, NY $4,950

A couple spends around $3,673 per month in Memphis, TN vs $7,265 in New York, NY, rent included.

Memphis, TN $3,673
New York, NY $7,265

A family of three spends $4,844 per month in Memphis, TN vs $9,581 in New York, NY, rent included.

Memphis, TN $4,844
New York, NY $9,581

Memphis, TN is about 49% cheaper than New York, NY, and outside of rent the biggest gap is in groceries.

Both Memphis, TN and New York, NY sit above the global median – Memphis, TN by 85%, New York, NY by 267%.

Meal at Budget Restaurant

$17.99 $17.99

$24.65 $24.65

-27.02%

Three-Course Dinner for Two, Mid-Range

$74.5 $74.5

$122 $122

-38.72%

Fast Food Meal (McDonalds, etc)

$12.16 $12.16

$13.91 $13.91

-12.58%

Cappuccino

$5.68 $5.68

$6.59 $6.59

-13.81%

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

$2.40 $2.40

$3.84 $3.84

-37.50%

Water (0.33 liter bottle)

$1.99 $1.99

$2.87 $2.87

-30.66%

Local Beer (0.5 liter draught)

$7.12 $7.12

$7.79 $7.79

-8.60%

Imported Beer (0.33 liter bottle)

$8.03 $8.03

$9.85 $9.85

-18.48%

Milk (1 liter)

$0.94 $0.94

$1.38 $1.38

-31.88%

White Bread (500g)

$3.15 $3.15

$4.68 $4.68

-32.69%

Rice (white) (1kg)

$3.96 $3.96

$7.54 $7.54

-47.48%

Eggs

$3.77 $3.77

$5.93 $5.93

-36.42%

Local Cheese (1kg)

$13.18 $13.18

$18.83 $18.83

-30.01%

Chicken Fillets (1kg)

$11.45 $11.45

$17.36 $17.36

-34.04%

Beef Round Steak (1kg)

$18.84 $18.84

$18.51 $18.51

1.78%

Apples (1kg)

$5.67 $5.67

$6.74 $6.74

-15.88%

Banana (1kg)

$1.71 $1.71

$2.09 $2.09

-18.18%

Oranges (1kg)

$5.71 $5.71

$6.07 $6.07

-5.93%

Tomato (1kg)

$4.98 $4.98

$6.74 $6.74

-26.11%

Potato (1kg)

$3.14 $3.14

$4.05 $4.05

-22.47%

Onion (1kg)

$4.17 $4.17

$4.37 $4.37

-4.58%

Lettuce (1 head)

$2.64 $2.64

$2.89 $2.89

-8.65%

Water (1.5 liter bottle)

$2.16 $2.16

$2.60 $2.60

-16.92%

Cigarettes 20 Pack (Marlboro, Camel)

$10.87 $10.87

$18.72 $18.72

-41.93%

Wine (Bottle)

$12.94 $12.94

$20.06 $20.06

-35.49%

Local Beer (0.5 liter bottle)

$1.76 $1.76

$3.25 $3.25

-45.85%

Imported Beer (0.33 liter bottle)

$1.60 $1.60

$3.73 $3.73

-57.10%

One-way Ticket (Public Transport)

$1.02 $1.02

$3.06 $3.06

-66.67%

Public Transport Monthly Pass (Regular Price)

$38.55 $38.55

$140 $140

-72.56%

Taxi Start (Normal Tariff)

$2.02 $2.02

$3.04 $3.04

-33.55%

Taxi (Normal Tariff) (1km)

$1.41 $1.41

$2.15 $2.15

-34.42%

Taxi 1hour Waiting (Normal Tariff)

$20.36 $20.36

$41.82 $41.82

-51.32%

Gasoline (1 liter)

$1.02 $1.02

$1.12 $1.12

-8.93%

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

$37.3K $37.3K

$35.5K $35.5K

5.35%

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

$27.1K $27.1K

$26.0K $26.0K

4.02%

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

$187 $187

$219 $219

-14.55%

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

$86.3 $86.3

$73.2 $73.2

17.86%

Internet (50+ Mbps, Unlimited Data)

$75.8 $75.8

$72.0 $72.0

5.31%

Gym Membership (Monthly)

$31.47 $31.47

$123 $123

-74.35%

Tennis Court (1 Hour on Weekend)

$16.62 $16.62

$67.7 $67.7

-75.44%

Cinema Ticket

$14.76 $14.76

$22.85 $22.85

-35.40%

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

$1,720 $1,720

$3,333 $3,333

-48.38%

International Primary School, 1 Child (Yearly)

$24.8K $24.8K

$60.0K $60.0K

-58.63%

Jeans (Levis 501 Or Similar)

$47.08 $47.08

$75.2 $75.2

-37.39%

Summer Dress (H&M, Zara, etc)

$33.58 $33.58

$52.4 $52.4

-35.90%

Sport Shoes (Adidas, Nike)

$82.2 $82.2

$122 $122

-32.40%

Men's Leather Business Shoes

$156 $156

$133 $133

16.83%

1-bedroom Apartment, City Center (Monthly)

$1,448 $1,448

$4,389 $4,389

-67.00%

1-bedroom Apartment, Outside City Center (Monthly)

$1,175 $1,175

$3,130 $3,130

-62.46%

3-bedroom Apartment, City Center (Monthly)

$2,073 $2,073

$8,918 $8,918

-76.75%

3-bedroom Apartment, Outside City Center (Monthly)

$1,900 $1,900

$5,354 $5,354

-64.50%

Buy Apartment in City Center (m2)

$1,755 $1,755

$19.4K $19.4K

-90.95%

Buy Apartment Outside City Center (m2)

$1,351 $1,351

$6,806 $6,806

-80.15%

Average Monthly Net Salary (After Tax)

$3,523 $3,523

$5,343 $5,343

-34.05%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.6

6.82

-3.23%

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

Last update for Memphis, TN: October 11, 2026

Last update for New York, NY: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Memphis, TN

$1.2K 47%

New York, NY

$3.1K 63.2% 166% $2K

Groceries & Markets

Memphis, TN

$404 16.1%

New York, NY

$545 11% 35% $141

Monthly Utilities & Internet

Memphis, TN

$349 14%

New York, NY

$364 7.4% 4.3% $15

Eating Out

Memphis, TN

$318 12.7%

New York, NY

$404 8.2% 27% $86

Clothing & Footwear

Memphis, TN

$143 5.7%

New York, NY

$172 3.5% 20.1% $29

Sport & Entertainment

Memphis, TN

$61 2.4%

New York, NY

$168 3.4% 176% $107

Getting Around

Memphis, TN

$52 2.1%

New York, NY

$167 3.4% 222% $115

Cost Breakdown

A central one-bedroom costs $1,448 in Memphis, TN versus $4,389 in New York, NY. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 52% higher in New York, NY, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $74.0 in Memphis, TN versus $122 in New York, NY. Monthly groceries follow the same trend: $404 vs $545 – making Memphis, TN the more affordable choice for daily food spending.

Good to know

🇺🇸 Memphis, TN

🇺🇸 New York, NY

🕒 Local time

15:27 3:27 PM

16:27 4:27 PM

1 h ahead of Memphis, TN

🌤 Weather

👥 Population

633,104

8,804,190

💱 Currency

United States Dollar USD $

📈 Exchange rate

1 USD = 0.89 EUR

Exchange rates and currency converter

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Between locations

Memphis, TN New York, NY 1,520 km ≈ 2 h 30 min nonstop flight

From you

Memphis, TN
New York, NY

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 New York, NY: Cost of Living - Frequently Asked Questions

Monthly costs with rent: $2,501 in Memphis, TN, $4,950 in New York, NY – roughly 98% apart. Outside of rent, the biggest gap is in groceries.

For a comfortable life, plan on about $3,752 per month in Memphis, TN and $7,424 in New York, NY. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Memphis, TN, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Public transport costs about 264% less in Memphis, TN. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $1,720 per month in Memphis, TN and $3,333 in New York, NY. For families with young kids, this one expense can tip the scales when choosing between the two cities.

$3,000 is a stretch for both – monthly costs hit $2,501 in Memphis, TN and $4,950 in New York, NY. You'll need shared housing and careful budgeting no matter which city you pick.

It depends on your priorities. New York, NY has an edge in some lifestyle areas, with costs from $2,501 in Memphis, TN to $4,950 in New York, NY. Climate, culture, job market, and personal taste all factor in.

If budget matters most, go with Memphis, TN. If higher salaries, better infrastructure, or specific career opportunities are the priority, New York, NY makes more sense. Both are solid long-term options with distinct trade-offs.