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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 from what we can tell, 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 from what we can tell, 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.
What does daily life actually cost in Memphis? Start with the 29% rent-to-income ratio — tight but manageable for most households. On the category level, Housing (index 72) is where the real savings show up, while Healthcare (index 94) is the line item most likely to surprise newcomers. Income at $51,211 and homes at $142,870 round out a profile that ranks #1 for clear reasons.
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); Raleigh (index 92, rent $1,567). Each city profile below links to the full detail page with 12-month trends, salary breakdowns, and cost category comparisons.
What to do with this data: use the ranking as a shortlist, then dig into the city profiles for trend lines and category breakdowns. The difference between #1 and #5 is often smaller than the difference between "good on paper" and "actually fits my life." Compare your top picks with our calculator to see real take-home numbers.
#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
In plain English: 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.
482,295 residents · North Carolina
Real talk: the #2 spot goes to Raleigh, and the breakdown explains why. Renters here pay $1,567/month — saving renters $3,936 per year compared to the national average. Meanwhile, Housing is the standout at index 92, keeping costs manageable. The weak spot? Healthcare at 98. At a 23% rent-to-income ratio, there's genuine breathing room in the average household budget.
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 Raleigh (ranked #2) has a cost index of 92 and rent of $1,567/mo — a 20-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.