Cleveland vs Memphis: cost of living compared

Memphis is 5% cheaper than Cleveland overall. Memphis (TN) has no state income tax; OH tops out around 3.5%.

Indexes use a US average of 100: below 100 is cheaper than the national average. Housing and transportation are derived from median home prices, rents and commute times; figures come from BLS, Census ACS, Numbeo and the MIT Living Wage Calculator.

The big picture

Overall, Memphis presents a slightly more affordable cost of living compared to Cleveland. This difference is largely driven by housing expenses, which are noticeably lower in Memphis. Other categories like transportation, food, and miscellaneous goods and services also contribute to Memphis's overall cost advantage, making it a more budget-friendly option across several key spending areas.

Housing

Housing costs are a significant factor, with both buying and renting being more affordable in Memphis. Median home prices are lower there, as are typical rents for a one-bedroom apartment. While both metros offer a mix of housing types, Memphis generally provides a lower entry point for homeownership. Property taxes and insurance costs can vary, but the initial purchase price and rental rates show a clear difference.

Taxes and everyday costs

Daily expenses see some notable differences. Tennessee has no state income tax, which can be a substantial saving compared to Ohio's income tax. Beyond taxes, transportation, food, and healthcare costs are all somewhat lower in Memphis. Utilities are also more affordable there. These combined factors mean that routine household spending on essentials will generally be less in Memphis.

Lifestyle trade-offs

Cleveland, a Great Lakes city, experiences distinct four seasons with cold, snowy winters, while Memphis, located on the Mississippi River, has a warmer, more humid climate with milder winters. Commute times are roughly similar in both metros, suggesting comparable traffic patterns. Both cities offer diverse cultural amenities, but their geographic locations and climates provide different outdoor and seasonal experiences.

Bottom line

For a household budget, moving to Memphis from Cleveland would generally result in lower overall expenses. The absence of a state income tax in Tennessee, combined with more affordable housing, food, transportation, and utilities, creates a noticeable financial advantage. While both cities offer distinct living experiences, Memphis typically allows for greater purchasing power across most spending categories.

Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Memphis home with the True Cost Calculator.

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