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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Dollar for dollar, these cities represent some of the best deals in America. And in most cases, 2 out of 2 cities undercut the national cost index of 111. Leading the pack: Memphis at index 72, where median rent of $1,234/month saves renters $7,932/year versus the national median.
Dollar for dollar, these cities represent some of the best deals in America. And in most cases, 2 out of 2 cities undercut the national cost index of 111. Leading the pack: Memphis at index 72, where median rent of $1,234/month saves renters $7,932/year versus the national median.
Why Memphis ranks #1: the numbers tell a clear story. And for the typical household, at 72 on the cost index, residents save roughly 39% less than the typical American. Rent sits at $1,234/month while the median household pulls in $51,211/year. The Housing category is particularly strong at 72, though Healthcare (94) lags behind. Home prices average $142,870 — $324,500 below the national median.
The ranking uses a composite of 2026 data from Census Bureau population/income surveys, Zillow rent and home price indices, BLS salary benchmarks, and Tax Foundation tax rates. Memphis (index 72, rent $1,234); Mesa (index 91, rent $1,554). Each city profile below links to the full detail page with 12-month trends, salary breakdowns, and cost category comparisons (that's pre-tax, of course). Surprising? Maybe. But the data's clear.
The trade-off becomes clearer when you add healthcare into the mix. The national baseline: 111 cost index, $1,895/month rent, $80,367 household income. That's the yardstick. The cities ranked here blow past it — starting with Memphis at just 72 on the index.
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
Frankly, 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. Not even close to the national average.
511,648 residents · Arizona
Here's Mesa by the numbers — and there's a lot to like (and a little to watch). Cost index: 91. Rent: $1,554/month — which, honestly, is lower than you'd expect here — . Income: $78,779/year. Home price: $432,764. Population: 511,648. The strongest category is Housing at 91; the most expensive is Healthcare at 98. Translate that rent to annual numbers, and residents are saving renters $4,092 per year vs. the national median. That's a margin of safety most budgets don't have (that's pre-tax, of course).
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 Mesa (ranked #2) has a cost index of 91 and rent of $1,554/mo — a 19-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.