New York, NY vs Memphis, TN
Cost of living comparison · 2023 Census ACS data
Quick Summary
Housing costs separate Memphis and New York more than any other line item — $157,000 versus $752,000 for a typical home, a 79% spread. Memphis also has no state income tax, while the other state tops out at 10.9% — a meaningful annual difference at higher income levels.
Median Home Value
$751,700
$157,100 ✓
Zillow Home Value
$812,534
$142,869
Median Gross Rent
$1,779/mo
$1,123/mo ✓
Owner Occupied %
32.8%
46.0%
Price-to-Rent Ratio
35.2x
11.7x
Median Household Income
$79,713 ✓
$51,211
Per Capita Income
$50,776
$32,314
Unemployment Rate
7.7% ✓
8.3%
Poverty Rate
17.4%
22.5%
Avg Commute (min)
44.8 min
23.0 min
Drove Alone %
21.9%
77.8%
Public Transit %
45.5%
0.8%
Work From Home %
15.0%
8.0%
State Income Tax
10.9%
None
Total Sales Tax
8.5% ✓
9.6%
Property Tax Rate
1.7%
0.7%
Bachelor's Degree %
23.6%
16.9%
Median Age
38
34.3
Avg High Temp
62.6°F
73.0°F
Annual Precipitation
49.5"
54.9"
Annual Snowfall
29.8"
2.7"
New York, NY 3 wins
- ✓Total Sales Tax
- ✓Median Household Income
- ✓Unemployment Rate
Memphis, TN 2 wins
- ✓Median Home Value
- ✓Median Gross Rent
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