Quick answer
Memphis costs $425/month less overall ($1,455 vs $1,880/mo). Memphis also has lower state income tax (None vs 7.65%), widening the advantage for higher earners.
City Comparison · 2026
Madison 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: April 23, 2026
Madison vs Memphis at a Glance
| Metric | Madison | Memphis |
|---|---|---|
| 1BR Monthly Rent | $1,380 | $1,220 ✓ |
| 2BR Monthly Rent | $1,720 | $1,220 ✓ |
| Median Home Price | $370K | $195K ✓ |
| Avg Utilities/mo | $145 ✓ | $150 |
| Avg Groceries/mo | $355 | $325 ✓ |
| Monthly Cost (1BR) | $1,880 | $1,455 ✓ |
| Walk Score | 63/100 ✓ | 36/100 |
| Transit Score | 46/100 ✓ | 28/100 |
| State Income Tax | 7.65% | 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 $1,380 in Madison — a $400/month difference, or $4,800/year. That's a meaningful gap worth factoring into your decision.
State tax: Memphis charges None state income tax vs 7.65% in Madison. On an $80K salary that's a $6,120/year difference. On $120K, the gap grows to $9,180 vs $0 — important context if you're choosing between tech job offers.
Home buying: Median homes in Memphis are $195K vs $370K in Madison. At a 20% down payment, that's a $35,000 difference in upfront cash — significant at early-career savings rates.
Utilities: Memphis utilities run $5 more per month than Madison.
Walkability, Transit & Daily Life
Madison, WI
Madison's walkability means you can genuinely live without a car in the right neighborhoods.
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
Madison
Four seasons; brutal winters (lakes freeze solid for skating), warm summers, beautiful fall; 189 sunny days
Memphis
Hot humid summers, mild winters with occasional ice storms, high annual rainfall
Job Market
Madison top industries
Memphis top industries
Who Should Pick Which City
Move to Madison if…
- →You're a researchers / academics
- →You're a tech workers
- →You're a outdoor / lake lifestyle seekers
- →You're a progressive culture seekers
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 Madison or Memphis cheaper to live in?
Memphis is cheaper overall. Monthly costs (1BR rent + utilities + groceries) run $1,455 in Memphis vs $1,880 in Madison — a $425/month difference.
Which city is more walkable — Madison or Memphis?
Madison is more walkable with a Walk Score of 63/100 vs 36/100. Memphis is more car-dependent.
Madison vs Memphis: which has lower state income tax?
Memphis has lower state income tax (None). On an $80K salary, that saves $6,120/year vs Madison (7.65%).
Is Madison or Memphis better for buying a home?
Memphis has lower median home prices at $195K vs $370K in Madison — a $175,000 difference on the median home.