Quick answer
Memphis, TN evaluated for retirees: state tax on retirement income, healthcare access, cost of living on fixed income, walkability, and climate comfort.
TN · 2026
Is Memphis Good for Retirement?
1BR rent
$980/mo
2BR rent
$1,220/mo
Walk Score
36/100
State tax
None
Why Memphis Works for Retirees
- ✓No state income tax — Social Security and pension income untaxed at state level; significant savings on fixed income
- ✓1BR median rent $980/mo — manageable on Social Security + modest savings
- ✓Median home $195K — downsizing from a coastal city could release significant equity
- ✓Healthcare access in Memphis metro includes major hospital systems
Trade-offs to Consider
- ✗Walk Score 36 — car dependency is a significant concern as driving becomes more difficult; plan for this transition
- ✗Climate: Hot humid summers, mild winters with occasional ice storms, high annual rainfall — assess comfort for year-round living
- ✗Transit Score 28 — limited public transport options if you can no longer drive
- ✗Property taxes on a $195K home run $2,925-4,290/year in most areas
Frequently Asked Questions
Is Memphis tax-friendly for retirees?
Memphis is in TN, which has no state income tax. Social Security, pension income, and IRA withdrawals are all untaxed at the state level — a significant advantage for retirees on fixed income. A retiree with $50K/year in retirement income saves $2,000-4,000/year vs. high-tax states.
Can I retire comfortably in Memphis on $3,000/month?
$3,000/month in Memphis is workable. Breakdown: 1BR rent $980, utilities $150, groceries $325, transport $300-400, healthcare $300-500. Total essentials: $2,255/mo. Leaves some discretionary budget.
What are the best areas for retirees in Memphis?
Retirees in Memphis generally do best in established residential neighbourhoods with: good walkability to shops (even if overall Walk Score is low, local walkability matters), proximity to major hospital systems, single-story homes or elevator buildings, and active senior communities. Avoid high-entertainment districts (noisy, expensive) and very new suburbs (car-dependent without nearby services).