Quick answer
Memphis costs $410/month less overall ($1,455 vs $1,865/mo). Both cities have None state income tax, so the rent gap is the real difference.
City Comparison · 2026
Memphis vs Plano
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
Memphis vs Plano at a Glance
| Metric | Memphis | Plano |
|---|---|---|
| 1BR Monthly Rent | $980 ✓ | $1,750 |
| 2BR Monthly Rent | $1,220 ✓ | $1,750 |
| Median Home Price | $195K ✓ | $475K |
| Avg Utilities/mo | $150 ✓ | $155 |
| Avg Groceries/mo | $325 | $310 ✓ |
| Monthly Cost (1BR) | $1,455 ✓ | $1,865 |
| Walk Score | 36/100 | 58/100 ✓ |
| Transit Score | 28/100 ✓ | 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 $1,400 in Plano — a $420/month difference, or $5,040/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 $475K in Plano. At a 20% down payment, that's a $56,000 difference in upfront cash — significant at early-career savings rates.
Utilities: Plano utilities run $5 more per month than Memphis.
Walkability, Transit & Daily Life
Memphis, TN
Car ownership is effectively mandatory in Memphis. Budget $400–600/month for a car if you don't own one.
TOP NEIGHBORHOODS
Plano, TX
Plano is partially walkable in denser neighborhoods but car-dependent in most areas.
TOP NEIGHBORHOODS
Climate
Memphis
Hot humid summers, mild winters with occasional ice storms, high annual rainfall
Plano
Hot, humid subtropical. Summers (June-September) reach 95-98°F with 60-70% humidity. Winters are mild (50-65°F). Occasional ice storms; severe thunderstorms and tornado risk May-June.
Job Market
Memphis top industries
Plano top industries
Who Should Pick Which City
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
Move to Plano if…
- →You're a Tech workers
- →You're a Corporate professionals
- →You're a Families seeking suburbs
- →You're a People avoiding state income tax
- →You want zero state income tax
Frequently Asked Questions
Is Memphis or Plano cheaper to live in?
Memphis is cheaper overall. Monthly costs (1BR rent + utilities + groceries) run $1,455 in Memphis vs $1,865 in Plano — a $410/month difference.
Which city is more walkable — Memphis or Plano?
Plano is more walkable with a Walk Score of 58/100 vs 36/100. Memphis is more car-dependent.
Memphis vs Plano: which has lower state income tax?
Both Memphis and Plano have the same state income tax rate (None).
Is Memphis or Plano better for buying a home?
Memphis has lower median home prices at $195K vs $475K in Plano — a $280,000 difference on the median home.