City comparison
Cost indices by category, with the US city average (100) marked.
Index: 100 = US city average. Lower is more affordable.
Side-by-side costs, salaries, and sub-category indices.
| Metric | Franklin | Memphis | Difference |
|---|---|---|---|
| Median rent | $1,785/mo | $1,050/mo | 70.0% higher in A |
| Median home value | $574,000 | $139,600 | 311.2% higher in A |
| Median household income | $106,592 | $48,090 | 121.7% higher in A |
| Groceries index | 98.7 | 98.7 | ≈ equal |
| Utilities index | 94.8 | 94.8 | ≈ equal |
| Transportation index | 100.5 | 100.5 | ≈ equal |
| Healthcare index | 94.8 | 94.8 | ≈ equal |
How much you'd need to earn in the other city to keep the same standard of living.
If you earn $100,000 in Franklin, you'd need $58,826 in Memphis to maintain your standard of living.
Climate, safety, and demographics side by side.
Memphis, TN is about 41.2% cheaper overall than Franklin, TN, based on our cost-of-living index. Housing costs are roughly 41% lower in Memphis than in Franklin. If you earn $80,000 in Franklin, you'd need about $47,061 in Memphis to keep the same standard of living.