Columbus vs Memphis: cost of living compared
Memphis is 13% cheaper than Columbus 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
Memphis offers a noticeably lower overall cost of living compared to Columbus. The most significant factor driving this difference is housing, which is considerably more affordable in Memphis. Other categories like food, healthcare, utilities, and miscellaneous expenses also contribute to Memphis being a more budget-friendly option. While transportation costs are roughly similar, the cumulative effect of these savings makes Memphis the more economical choice.
Housing
Housing in Memphis is substantially more affordable, whether you are looking to buy or rent. Median home prices show a significant gap, with Columbus being much higher. Rental costs for a one-bedroom unit also reflect this trend, being notably lower in Memphis. Both cities offer a mix of housing types, from historic homes to newer developments, but the entry point for ownership and rental is considerably more accessible in Memphis.
Taxes and everyday costs
Daily expenses are generally lower in Memphis. Food, healthcare, and utilities are all more affordable there. A key difference impacting disposable income is state income tax; Memphis benefits from no state income tax, unlike Columbus where residents pay a percentage of their earnings. Transportation costs are quite similar in both metros, with average commute times being nearly identical, suggesting comparable daily travel expenses.
Lifestyle trade-offs
Columbus experiences a four-season climate with colder winters and occasional snow, while Memphis has a warmer, more humid climate with milder winters. Both cities are largely car-dependent, with average commute times being very close. Columbus is a state capital and a growing tech hub, often perceived as having a slightly faster pace. Memphis, known for its rich musical heritage, offers a distinct Southern charm and a somewhat more relaxed atmosphere.
Bottom line
For households considering a move, Memphis presents a clear advantage in terms of overall affordability, primarily driven by much lower housing costs and the absence of state income tax. While daily transportation expenses are comparable, the cumulative savings on housing, food, healthcare, and utilities in Memphis could significantly impact a household's budget, offering more financial flexibility compared to living in Columbus.
| Measure | Columbus, OH | Memphis, TN |
|---|---|---|
| Overall cost of living (US avg = 100) | 90 | 78 |
| Housing index | 71 | 54 |
| Transportation index | 86 | 88 |
| Food index | 92 | 85 |
| Healthcare index | 95 | 88 |
| Utilities index | 98 | 92 |
| Misc index | 88 | 78 |
| Median home price | $248,000 | $178,000 |
| Median 1-bedroom rent | $1,100/mo | $900/mo |
| Average commute | 24 min | 25 min |
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.