Quick answer
Memphis costs $520/month less overall ($1,455 vs $1,975/mo). Memphis also has lower state income tax (None vs 4.5%), widening the advantage for higher earners.
City Comparison · 2026
Memphis vs Raleigh
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 Raleigh at a Glance
| Metric | Memphis | Raleigh |
|---|---|---|
| 1BR Monthly Rent | $980 ✓ | $1,860 |
| 2BR Monthly Rent | $1,220 ✓ | $1,860 |
| Median Home Price | $195K ✓ | $420K |
| Avg Utilities/mo | $150 | $145 ✓ |
| Avg Groceries/mo | $325 ✓ | $350 |
| Monthly Cost (1BR) | $1,455 ✓ | $1,975 |
| Walk Score | 36/100 ✓ | 34/100 |
| Transit Score | 28/100 ✓ | 25/100 |
| State Income Tax | None ✓ | 4.5% |
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 $1,480 in Raleigh — a $500/month difference, or $6,000/year. That's a meaningful gap worth factoring into your decision.
State tax: Memphis charges None state income tax vs 4.5% in Raleigh. On an $80K salary that's a $3,600/year difference. On $120K, the gap grows to $5,400 vs $0 — important context if you're choosing between tech job offers.
Home buying: Median homes in Memphis are $195K vs $420K in Raleigh. At a 20% down payment, that's a $45,000 difference in upfront cash — significant at early-career savings rates.
Utilities: Memphis utilities run $5 more per month than Raleigh. Factor this into your all-in monthly budget.
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
Raleigh, NC
Car ownership is effectively mandatory in Raleigh. Budget $400–600/month for a car if you don't own one.
TOP NEIGHBORHOODS
Climate
Memphis
Hot humid summers, mild winters with occasional ice storms, high annual rainfall
Raleigh
Four mild seasons; hot humid summers (heat index 100–105°F in July), light winters, excellent spring and fall
Job Market
Memphis top industries
Raleigh 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 Raleigh if…
- →You're a tech workers
- →You're a biotech / pharma professionals
- →You're a researchers
- →You're a young families
Frequently Asked Questions
Is Memphis or Raleigh cheaper to live in?
Memphis is cheaper overall. Monthly costs (1BR rent + utilities + groceries) run $1,455 in Memphis vs $1,975 in Raleigh — a $520/month difference.
Which city is more walkable — Memphis or Raleigh?
Memphis is more walkable with a Walk Score of 36/100 vs 34/100. Raleigh is more car-dependent.
Memphis vs Raleigh: which has lower state income tax?
Memphis has lower state income tax (None). On an $80K salary, that saves $3,600/year vs Raleigh (4.5%).
Is Memphis or Raleigh better for buying a home?
Memphis has lower median home prices at $195K vs $420K in Raleigh — a $225,000 difference on the median home.