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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Complete relocation analysis: cost difference, salary adjustment, monthly expenses, taxes, home prices, and job market comparison.
Moving to Memphis is roughly financially neutral — costs and incomes shift together.
Memphis has a cost index of 86 vs 105 for Wilmington. Memphis is 19 points cheaper overall. Monthly rent goes from $1,670 to $1,234 (-26%).
If you earn the Wilmington median of $63,900, you would need approximately $52,337/year in Memphis to maintain equivalent purchasing power, based on the cost index difference of 19 points (18%).
Median rent in Wilmington is $1,670/month. In Memphis it is $1,234/month — a difference of $436 per month, or $5,232 per year.
Moving to Memphis is roughly financially neutral — costs and incomes shift together. The salary equivalent to maintain your current lifestyle is $52,337/year in Memphis. The median income there is $51,211.
Estimated monthly essentials total $3,673 in Wilmington vs $2,900 in Memphis — a difference of $773/month ($9,276/year).
The median home price in Memphis is $142,870 vs $408,845 in Wilmington. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $722 in Memphis vs $2,067 in Wilmington.