Memphis, Tennessee
In Memphis, Tennessee, a gallon of regular gas costs $3.65 as of 2026-03-23 — $0.20 above the national average of $3.45. The average monthly rent for all unit types is $1,200, compared to the national average of $1,900. Grocery inflation is running at 2.58% year-over-year. Since 2022, bread prices have increased significantly while egg prices have been volatile due to avian flu outbreaks. Memphis's cost-of-living index of 82 puts it below the national average of 100.
Key Numbers
Gas (Regular)
$3.65
National: $3.45
Avg Rent (All)
$1,200
National: $1,900
Grocery Inflation
2.58%
Year-over-year
Fast Food Avg
$11.00
Combo meal
Electricity
12.8¢/kWh
~$115/mo avg bill
Car Insurance
$173/mo
$2,080/yr state avg
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Grocery Prices
Grocery Item Prices — 2022 to Present
| Item | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Eggs (dozen)Bird flu volatility | $1.59 | $1.86 | $2.38 | $3.52 | $1.90 | +2960.0% |
| Milk (gallon) | $3.26 | $3.52 | $3.52 | $3.63 | $3.67 | +630.0% |
| Ground Beef (lb) | $3.64 | $4.47 | $4.74 | $4.98 | $5.13 | +40.9% |
| Bread (loaf) | $2.07 | $2.74 | $2.90 | $3.10 | $3.16 | +1900.0% |
| Chicken Breast (lb) | $3.47 | $3.64 | $3.79 | $3.79 | $3.83 | +2630.0% |
| Butter (lb) | $3.98 | $4.37 | $4.59 | $4.73 | $4.92 | +23.6% |
| Bacon (lb) | $5.93 | $6.47 | $6.86 | $7.13 | $7.27 | +22.6% |
| Cheddar Cheese (lb) | $5.24 | $5.71 | $6.06 | $6.30 | $6.43 | +22.7% |
| Pasta (lb) | $1.38 | $1.67 | $1.77 | $1.80 | $1.82 | +31.9% |
| Rice (5 lb) | $3.75 | $4.31 | $4.53 | $4.62 | $4.67 | +24.5% |
| Coffee (12 oz) | $7.75 | $9.49 | $10.45 | $11.08 | $11.53 | +48.8% |
| Orange Juice (64 oz)Citrus shortage | $3.36 | $3.96 | $4.40 | $4.57 | $4.75 | +41.4% |
| Potatoes (5 lb) | $3.54 | $3.68 | $3.90 | $3.98 | $4.02 | +13.6% |
| Apples (3 lb) | $4.19 | $4.40 | $4.53 | $4.57 | $4.66 | +11.2% |
| Tomatoes (lb) | $1.95 | $2.16 | $2.29 | $2.38 | $2.48 | +27.2% |
| Lettuce (head) | $1.69 | $1.84 | $2.01 | $2.13 | $2.19 | +29.6% |
| Cooking Oil (48 oz) | $4.92 | $6.15 | $6.64 | $6.84 | $6.98 | +41.9% |
| Yogurt (32 oz) | $3.87 | $4.10 | $4.26 | $4.47 | $4.51 | +16.5% |
| Cereal (family size) | $4.29 | $4.83 | $5.22 | $5.43 | $5.59 | +30.3% |
| Frozen Pizza | $5.60 | $6.79 | $7.33 | $7.69 | $8.00 | +42.9% |
Dining & Restaurants
Fast Food Meal
$11.00
Casual Dining
$15.72
Monthly Spend
$261.55
+3.62% YoYChain Restaurant Meal Prices — 2022 vs. Today
Combo meal / typical order for one
McDonald's
2022: $5.28
$8.52
+61.4%Wendy's
2022: $5.96
$9.20
+54.4%Chipotle
2022: $6.39
$9.54
+49.3%Starbucks
2022: $3.21
$4.46
+38.9%Eating out more? Save on groceries with Ibotta and cook at home more often.
Looking for an Apartment in Memphis?
Average 1BR: $936/mo · 2BR: $1,416/mo
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