Memphis vs Riverside: cost of living compared
Riverside is 51% more expensive than Memphis overall. Memphis (TN) has no state income tax; CA tops out around 9.3%.
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 Memphis and Riverside reveals a substantial difference in overall cost of living, with Memphis being noticeably more affordable. This significant gap is primarily driven by housing expenses, which are dramatically higher in Riverside. Most other categories, including everyday necessities and miscellaneous costs, also contribute to Memphis's more budget-friendly profile, making it a considerably less expensive place to reside overall.
Housing
Housing costs present the largest disparity between the two metros. Both buying a home and renting an apartment in Memphis are considerably cheaper than in Riverside. Memphis typically features a mix of older, established homes and newer developments, often with more land. Riverside's housing market is much more competitive, characterized by higher prices for similar property types, and ownership costs like property taxes and insurance can also be elevated.
Taxes and everyday costs
Daily expenses vary significantly. Riverside residents face a substantial state income tax, which is absent in Memphis. Beyond that, transportation, food, healthcare, and utilities are all more expensive in Riverside. This means that nearly every aspect of daily spending, from groceries to getting around and medical care, will require a larger portion of one's income in the California metro compared to Tennessee.
Lifestyle trade-offs
Memphis experiences a humid subtropical climate with hot summers and mild winters, while Riverside has a Mediterranean climate, featuring hot, dry summers and mild, wet winters. Commutes are generally shorter in Memphis, which is a more spread-out city with a focus on personal vehicle use. Riverside, part of a larger metropolitan area, often involves longer travel times and greater traffic density.
Bottom line
A move from Memphis to Riverside would necessitate a much larger household budget, primarily due to the significantly higher housing costs and the presence of a state income tax. Conversely, relocating from Riverside to Memphis would likely free up substantial financial resources. The cost differences across nearly all spending categories mean a household's purchasing power would be considerably greater in Memphis.
| Measure | Memphis, TN | Riverside, CA |
|---|---|---|
| Overall cost of living (US avg = 100) | 78 | 118 |
| Housing index | 54 | 134 |
| Transportation index | 88 | 121 |
| Food index | 85 | 105 |
| Healthcare index | 88 | 108 |
| Utilities index | 92 | 122 |
| Misc index | 78 | 102 |
| Median home price | $178,000 | $498,000 |
| Median 1-bedroom rent | $900/mo | $1,850/mo |
| Average commute | 25 min | 34 min |
Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Riverside home with the True Cost Calculator.