Loading
Assembling your view…
Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Moving to Memphis is a financial step down — higher costs without proportional income gain.
Memphis has a cost index of 86 vs 108 for Tempe. Memphis is 22 points cheaper overall. Monthly rent goes from $1,679 to $1,234 (-27%).
If you earn the Tempe median of $77,643, you would need approximately $61,827/year in Memphis to maintain equivalent purchasing power, based on the cost index difference of 22 points (20%).
Median rent in Tempe is $1,679/month. In Memphis it is $1,234/month — a difference of $445 per month, or $5,340 per year.
Moving to Memphis is a financial step down — higher costs without proportional income gain. The salary equivalent to maintain your current lifestyle is $61,827/year in Memphis. The median income there is $51,211.
Estimated monthly essentials total $3,731 in Tempe vs $2,900 in Memphis — a difference of $831/month ($9,972/year).
The median home price in Memphis is $142,870 vs $466,198 in Tempe. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $722 in Memphis vs $2,357 in Tempe.