Cost of LivingUpdated 2026-04-01

Memphis, Tennessee

In Memphis, Tennessee, a gallon of regular gas costs $3.82 as of 2026-04-01 — $0.25 below the national average of $4.06. The average monthly rent for all unit types is $1,421, compared to the national average of $1,900. Grocery inflation is running at 5.27% 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)

$3.82

National: $4.06

212.9%since 2000
AAA Gas Prices

Avg Rent (All)

$1,421

National: $1,900

25.2%since 2000
Zillow ZORI Metro (2026-02)

Grocery Inflation

5.27%

Year-over-year

BLS/FRED CPI

Fast Food Avg

$11.00

Combo meal

3.6%YoY

Electricity

13.1¢

per kWh · ~$118/mo

24.6%vs US avg
EIA Residential

Car Insurance

$173/mo

$2,080/yr

3.3%vs national avg
Bankrate/NAIC

Median Household Income

$62,337

37.3% goes to essentials

37.3%cost burden
Census ACS 2023
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Car Insurance

Avg $2,080 in Memphis. Compare rates:

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Find Apartments

Avg rent $1,421/mo in Memphis. Browse listings:

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Grocery Prices

Grocery Prices — 2000 to Present

National BLS averages · submit local prices below ↓

Eggs (dozen)

Bird flu volatility

$2.58 BLS avg

+156.4%

Milk (gallon)

$4.10 BLS avg

+44.6%

Ground Beef (lb)

$6.75 BLS avg

+354.4%

Bread (loaf)

$1.84 BLS avg

+104.0%

Chicken Breast (lb)

$2.04 BLS avg

+93.5%

Butter (lb)

$4.92 BLS avg

+23.6%

Bacon (lb)

$7.27 BLS avg

+22.6%

Cheddar Cheese (lb)

$6.43 BLS avg

+22.7%

Pasta (lb)

$1.82 BLS avg

+31.9%

Rice (5 lb)

$4.67 BLS avg

+24.5%

Coffee (12 oz)

$11.53 BLS avg

+48.8%

Orange Juice (64 oz)

Citrus shortage

$4.75 BLS avg

+41.4%

Potatoes (5 lb)

$4.02 BLS avg

+13.6%

Apples (3 lb)

$4.66 BLS avg

+11.2%

Tomatoes (lb)

$2.48 BLS avg

+27.2%

Lettuce (head)

$2.19 BLS avg

+29.6%

Cooking Oil (48 oz)

$6.98 BLS avg

+41.9%

Yogurt (32 oz)

$4.51 BLS avg

+16.5%

Cereal (family size)

$5.59 BLS avg

+30.3%

Frozen Pizza

$8.00 BLS avg

+42.9%

Dining & Restaurants

Fast Food Meal

$11.00

Casual Dining

$15.72

Monthly Spend

$261.55

+3.62% YoY

Chain 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%

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Looking for an Apartment in Memphis?

Average 1BR: $1,165/mo · 2BR: $1,677/mo

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Local Workforce

2024 · BLS QCEW

Total Jobs

482k

Median Weekly Pay

$1,375

$72k/yr

Top Sector

Trade, Transportation & Utilities

Household vs Worker Pay

$62k

household median

Employment by Sector — Memphis

% of local workforce · avg weekly wage · 5-year growth trend

Trade, Transportation & Utilities
+1.5% 5yr$1,407/wk
28.8%

~$73k/yr

Education & Health Services
+0.9% 5yr$1,338/wk
17.2%

~$70k/yr

Professional & Business Services
-12.7% 5yr$1,373/wk
14.3%

~$71k/yr

Leisure & Hospitality
-9.4% 5yr$611/wk
9.1%

~$32k/yr

Construction
-13.0% 5yr$1,778/wk
5.8%

~$92k/yr

Source: BLS QCEW 2024 Annual · County FIPS 47157

Highest Paying Sector

Financial Activities

$2,179/wk · $113k/yr

Most Workers (lowest wage)

Leisure & Hospitality

$611/wk · $32k/yr

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