Cost Of Living in Memphis, MO

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Memphis	Missouri	National
Cost of living	81	88	100
Goods & Services	96	92	100
Groceries	95	95	100
Health care	104	90	100
Housing	40	78	100
Transportation	100	91	100
Utilities	113	99	100

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Cost Of Living Quick Facts

The cost of living in Memphis is 8% lower than the Missouri average
The cost of living in Memphis is 19% lower than the national average
Memphis housing is 60% lower than the national average
Missouri general sales tax is 17% lower than the national average
Missouri state income tax is 23% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$41,488	$3,457	$968	$1,245
Renters	$27,578	$2,298	$643	$827

Missouri Sales Tax

State	General Sales Tax	With Max Surtax
Missouri	4.225%	10.85%

Missouri Income Tax

State	Income Tax (Low)	Income Tax (High)
Missouri	2%	4.95%

Goods & Services

Item	Memphis	National avg.	Difference
Haircut	$18.13	$24.26	25.3%
Beauty Salon	$28.00	$45.56	38.5%
Toothpaste	$3.84	$3.70	3.8%
Shampoo	$1.30	$1.28	1.3%
Movie	$9.83	$12.13	19.0%
Bowling	$11.95	$18.00	33.6%

Groceries

Item	Memphis	National avg.	Difference
Ground Beef	$5.55	$5.84	5.0%
Fried Chicken	$1.41	$1.57	10.6%
Milk	$4.72	$4.67	1.0%
Potatoes	$4.74	$4.93	4.0%
Pizza	$12.79	$12.09	5.8%
Beer	$9.83	$10.41	5.6%

Health Care

Item	Memphis	National avg.	Difference
Optometrist	$120.50	$125.68	4.1%
Doctor	$171.88	$135.78	26.6%
Dentist	$97.53	$113.29	13.9%
Ibuprofen	$10.43	$10.65	2.1%
Lipitor	$506.88	$468.60	8.2%

Housing

Item	Memphis	National avg.	Difference
Home Price	$70,000.00	$184,700.00	62.1%
Avg. Mortgage Payment	$1,420.60	$2,346.69	39.5%
Apartment Rent	$430.00	$949.00	54.7%

Transportation

Item	Memphis	National avg.	Difference
Gasoline	$3.37	$3.46	2.5%
Tire Balancing	$62.78	$59.92	4.8%

Utilities

Item	Memphis	National avg.	Difference
All Electricity	$229.59	$193.99	18.3%
Phone	$200.45	$192.25	4.3%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Arbela, MO	21	99	0.9%
Mount Sterling, IA	26	99	0.9%
Granger, MO	16	73	26.7%
Rutledge, MO	75	75	24.6%
Downing, MO	393	77	23.3%
Memphis, MO	1,886	81	18.6%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Colfax, IA	1,886	86	14.2%
Saint-Narcisse, QC	1,886	n/a
Sulligent, AL	1,887	73	27.0%
Wabasso Beach, FL	1,885	143	43.1%
Kualapuu, HI	1,887	126	25.8%
Memphis, MO	1,886	81	18.6%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Memphis, MO