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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
These cities are a genuine bargain: 2 of the 2 cities in this ranking come in below the national cost-of-living average. And in practical terms, memphis leads at an index of 72 with rent at just $1,234/month — 35% less than the $1,895 national median. Here are the numbers, sourced from federal data …
These cities are a genuine bargain: 2 of the 2 cities in this ranking come in below the national cost-of-living average. And in practical terms, memphis leads at an index of 72 with rent at just $1,234/month — 35% less than the $1,895 national median. Here are the numbers, sourced from federal data updated in 2026.
Dive into Memphis's numbers: cost index 72 — for better or worse — (39 points below national average), rent $1,234/month, income $51,211, and a home price of $142,870. The city's cost profile isn't flat — Housing is the cheapest category at 72, while Healthcare runs 94. As a major city with 618,639 residents, amenities and job markets are robust.
If you're ready to act on this, three things to do next: 1) Click into the city pages for the top 3 and check rent trends — direction matters more than the snapshot. 2) Run your income through the salary calculator for a personalized cost comparison. 3) Compare your top two picks head-to-head on our comparison page. The data is here; the decision is yours.
#1 Ranked: Memphis, TN — cost index 72, rent $1,234/mo, income $51,211
2 of 2 cities come in below the national cost-of-living average of 111
Data sourced from Census Bureau, Zillow, BLS, and Tax Foundation — current as of 2026
618,639 residents · Tennessee
The #1 spot goes to Memphis, and the breakdown explains why. Renters here pay $1,234/month — saving renters $7,932 per year compared to the national average. Meanwhile, Housing is the standout at index 72, making it one of the cheapest in the country for that category. The weak spot? Healthcare at 94. A 29% rent-to-income ratio keeps most households inside the safe zone. Hard to argue with that.
545,716 residents · California
Here's Fresno by the numbers — and there's a lot to like (and a little to watch). Cost index: 99. Rent: $1,693/month. Income: $66,804/year. Home price: $386,426. Population: 545,716. The strongest category is Housing at 99; the most expensive is Healthcare at 100. Translate that rent to annual numbers, and residents are saving renters $2,424 per year vs. the national median. That's the sort of advantage that turns renters into homeowners.
Our cost of living index uses real Zillow rent data as the foundation, indexed to 100 (national median). Sub-categories (housing, food, transport, utilities, healthcare) are derived from the overall index with regional adjustments. Data is updated monthly.
Memphis (ranked #1) has a cost index of 72 and rent of $1,234/mo, while Fresno (ranked #2) has a cost index of 99 and rent of $1,693/mo — a 27-point difference in cost of living.
City data is refreshed monthly from Census Bureau population estimates, Zillow rent and home price indices, BLS salary data, and Tax Foundation tax rates. Last updated: 2026.
The median 1-bedroom rent in Memphis is $1,234/month as of 2026, based on Zillow's Observed Rent Index. This is $661 below the national median of $1,895/month.
The median home price in Memphis is $142,870, which is 2.8× the local median income. That's within the standard 3.5× affordability rule for most local earners. The national median home price is $467,370.
This ranking was generated using data current as of early 2026. Population and income data comes from the Census Bureau's American Community Survey (5-year estimates). Rent and home price data is from Zillow's monthly releases. Tax rates are from the Tax Foundation's 2025 edition. Rankings are refreshed monthly.