Cost of Living in Memphis, IN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
135.4
100 = national avg
+35.4 vs national average
Living Wage (1 Adult)
$59,579
per year
Living Wage (Family of 4)
$140,824
per year
Cost Index by Category
Housing116.9
Food139.3
Transportation139.8
Healthcare131.5
Utilities127.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,047
per month
2 Bedroom
$1,272
per month
The overall cost of living index in Memphis is 135.4, which is 35.4% above the national average. Housing costs are above the national average at an index of 116.9. A single adult needs to earn approximately $59,579 per year to cover basic expenses.