Memphis vs Jacksonville: cost of living compared
Jacksonville is 22% more expensive than Memphis overall. Neither TN nor FL has a state income tax.
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
Comparing the overall cost of living, Memphis is noticeably more affordable than Jacksonville. The most significant difference stems from housing expenses, which are substantially lower in Memphis. Other daily costs like groceries, transportation, and healthcare also contribute to Memphis's overall lower price point, making it a more budget-friendly option for many considering a move between these two cities.
Housing
Housing costs present the largest divergence, with both median home prices and rental rates being considerably lower in Memphis. While neither state has an income tax, homeowners in Florida, including Jacksonville, often face higher insurance premiums, including potential flood insurance needs, and property taxes can reset significantly upon purchase. Many newer communities in Jacksonville also involve additional association or community development district fees.
Taxes and everyday costs
Beyond housing, daily expenses generally favor Memphis. Groceries, transportation, and healthcare are all more affordable there. Utilities in Memphis are also below the national average, whereas Jacksonville's utility costs are somewhat above it. Both states do not levy a state income tax, which is a consistent benefit for residents in either metro, but overall daily spending will likely be less in Memphis.
Lifestyle trade-offs
Jacksonville offers a coastal lifestyle with a warmer, more humid climate and hurricane season considerations, while Memphis is inland with a distinct four-season climate. Both metros are car-dependent, with similar average commute times. Jacksonville's urban sprawl and newer developments contrast with Memphis's more established, historic character. Weather risks like tropical storms are a more prominent factor in Jacksonville.
Bottom line
For households weighing a move, the financial implications are clear: Memphis generally offers a more economical living experience, primarily driven by its significantly lower housing costs. While both cities benefit from no state income tax, the cumulative effect of higher housing, utility, and other daily expenses in Jacksonville means a household budget will likely stretch further in Memphis, despite similar commute times.
| Measure | Memphis, TN | Jacksonville, FL |
|---|---|---|
| Overall cost of living (US avg = 100) | 78 | 95 |
| Housing index | 54 | 91 |
| Transportation index | 88 | 96 |
| Food index | 85 | 92 |
| Healthcare index | 88 | 95 |
| Utilities index | 92 | 105 |
| Misc index | 78 | 88 |
| Median home price | $178,000 | $318,000 |
| Median 1-bedroom rent | $900/mo | $1,400/mo |
| Average commute | 25 min | 27 min |
Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Jacksonville home with the True Cost Calculator.