Quick answer
Memphis costs $435/month less overall ($1,455 vs $1,890/mo). Memphis also has lower state income tax (None vs 4.9%), widening the advantage for higher earners.
City Comparison · 2026
Memphis vs Santa Fe
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 Santa Fe at a Glance
| Metric | Memphis | Santa Fe |
|---|---|---|
| 1BR Monthly Rent | $980 ✓ | $1,750 |
| 2BR Monthly Rent | $1,220 ✓ | $1,750 |
| Median Home Price | $195K ✓ | $650K |
| Avg Utilities/mo | $150 | $140 ✓ |
| Avg Groceries/mo | $325 ✓ | $350 |
| Monthly Cost (1BR) | $1,455 ✓ | $1,890 |
| Walk Score | 36/100 | 73/100 ✓ |
| Transit Score | 28/100 | 32/100 ✓ |
| State Income Tax | None ✓ | 4.9% |
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 Santa Fe — a $420/month difference, or $5,040/year. That's a meaningful gap worth factoring into your decision.
State tax: Memphis charges None state income tax vs 4.9% in Santa Fe. On an $80K salary that's a $3,920/year difference. On $120K, the gap grows to $5,880 vs $0 — important context if you're choosing between tech job offers.
Home buying: Median homes in Memphis are $195K vs $650K in Santa Fe. At a 20% down payment, that's a $91,000 difference in upfront cash — significant at early-career savings rates.
Utilities: Memphis utilities run $10 more per month than Santa Fe. 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
Santa Fe, NM
Santa Fe's walkability means you can genuinely live without a car in the right neighborhoods.
TOP NEIGHBORHOODS
Climate
Memphis
Hot humid summers, mild winters with occasional ice storms, high annual rainfall
Santa Fe
High desert with mild to warm summers (75°F average), cold winters (30°F average, 30 inches snow), intense sun, and low humidity (35%). Elevation 7,000 feet.
Job Market
Memphis top industries
Santa Fe 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 Santa Fe if…
- →You're a Artists and creative professionals
- →You're a Retirees with substantial savings
- →You're a Remote workers seeking inspiration
- →You're a Wellness and spirituality seekers
- →You want to live without a car
Frequently Asked Questions
Is Memphis or Santa Fe cheaper to live in?
Memphis is cheaper overall. Monthly costs (1BR rent + utilities + groceries) run $1,455 in Memphis vs $1,890 in Santa Fe — a $435/month difference.
Which city is more walkable — Memphis or Santa Fe?
Santa Fe is more walkable with a Walk Score of 73/100 vs 36/100. Memphis is more car-dependent.
Memphis vs Santa Fe: which has lower state income tax?
Memphis has lower state income tax (None). On an $80K salary, that saves $3,920/year vs Santa Fe (4.9%).
Is Memphis or Santa Fe better for buying a home?
Memphis has lower median home prices at $195K vs $650K in Santa Fe — a $455,000 difference on the median home.