Memphis, TN vs Richmond, VA
Cost of Living Comparison
Memphis, TN is more affordable by 5.7 index points
Side-by-Side Comparison
| Category | Memphis, TN | Richmond, VA | Difference |
|---|---|---|---|
| Overall | 92.2 | 97.9 | -5.7 |
| Housing | 79.8 | 99.1 | -19.3 |
| Goods | 96.2 | 96.8 | -0.6 |
| Utilities | 74.1 | 89.2 | -15.1 |
| Other Services | 95.4 | 98.6 | -3.2 |
Income & Housing Comparison
| Metric | Memphis, TN | Richmond, VA |
|---|---|---|
| Median Household Income | $62,178 | $80,877 |
| Median Home Value | $207,500 | $299,100 |
| Median Monthly Rent | $1,091 | $1,307 |
| Per Capita Income | $35,194 | $44,141 |
Frequently Asked Questions
Is Memphis, TN or Richmond, VA cheaper to live in?
Memphis, TN is more affordable. The cost of living difference is 5.7 index points (Memphis, TN: 92.2, Richmond, VA: 97.9).
Where is housing cheaper, Memphis, TN or Richmond, VA?
Housing is more affordable in Memphis, TN. Housing index: Memphis, TN (79.8) vs Richmond, VA (99.1).