Quick answer
Memphis costs $750/month less overall ($1,455 vs $2,205/mo). Both cities have None state income tax, so the rent gap is the real difference.
City Comparison · 2026
Austin vs Memphis
Side-by-side on rent, home prices, taxes, walkability, jobs, and climate — with a straight verdict for each type of mover.
Last updated: October 21, 2026
Austin vs Memphis at a Glance
| Metric | Austin | Memphis |
|---|---|---|
| 1BR Monthly Rent | $1,650 | $1,220 ✓ |
| 2BR Monthly Rent | $2,100 | $1,220 ✓ |
| Median Home Price | $548K | $195K ✓ |
| Avg Utilities/mo | $175 | $150 ✓ |
| Avg Groceries/mo | $380 | $325 ✓ |
| Monthly Cost (1BR) | $2,205 | $1,455 ✓ |
| Walk Score | 41/100 ✓ | 36/100 |
| Transit Score | 34/100 ✓ | 28/100 |
| State Income Tax | None ✓ | None |
Monthly cost = 1BR rent + utilities + groceries for one person. ✓ marks the lower/better value.
Cost of Living: What the Numbers Actually Mean
Rent gap: Memphis's 1BR averages $980/month vs $1,650 in Austin — a $670/month difference, or $8,040/year. That's a meaningful gap worth factoring into your decision.
State tax: Both cities carry the same state income tax rate (None), so this isn't a differentiator.
Home buying: Median homes in Memphis are $195K vs $548K in Austin. At a 20% down payment, that's a $70,600 difference in upfront cash — significant at early-career savings rates.
Utilities: Austin utilities run $25 more per month than Memphis. Factor this into your all-in monthly budget.
Walkability, Transit & Daily Life
Austin, TX
Austin is partially walkable in denser neighborhoods but car-dependent in most areas.
TOP NEIGHBORHOODS
Memphis, TN
Car ownership is effectively mandatory in Memphis. Budget $400–600/month for a car if you don't own one.
TOP NEIGHBORHOODS
Climate
Austin
300+ sunny days; summers run 100–110°F for 60+ days June–September; mild short winters; ERCOT grid has blackout history in extreme weather
Memphis
Hot humid summers, mild winters with occasional ice storms, high annual rainfall
Job Market
Austin top industries
Memphis top industries
Who Should Pick Which City
Move to Austin if…
- →You're a tech workers
- →You're a young professionals
- →You're a outdoor enthusiasts
- →You're a musicians
- →You want zero state income tax
Move to Memphis if…
- →You're a logistics / supply chain workers
- →You're a healthcare workers
- →You're a musicians
- →You're a remote workers seeking extreme affordability
- →You want zero state income tax
- →You're buying a home and want more for your money
Frequently Asked Questions
Is Austin or Memphis cheaper to live in?
Memphis is cheaper overall. Monthly costs (1BR rent + utilities + groceries) run $1,455 in Memphis vs $2,205 in Austin — a $750/month difference.
Which city is more walkable — Austin or Memphis?
Austin is more walkable with a Walk Score of 41/100 vs 36/100. Memphis is more car-dependent.
Austin vs Memphis: which has lower state income tax?
Both Austin and Memphis have the same state income tax rate (None).
Is Austin or Memphis better for buying a home?
Memphis has lower median home prices at $195K vs $548K in Austin — a $353,000 difference on the median home.