Knoxville, TN vs Memphis, TN: cost of living compared
Price levels from BEA (2024); rent and home values from Zillow (September 2026).
The short answer
- Overall, living costs in Memphis, TN and Knoxville, TN are within 1% of each other (BEA, 2024).
- To keep the same standard of living, $75,000 in Knoxville works out to about $74,700 in Memphis, before taxes.
- Housing is 3.6% lower in Memphis, goods 0.0% lower and other services 0.2% higher, which roughly cancel out.
- Typical asking rent is $1,393 a month in Memphis and $1,725 in Knoxville, $3,984 a year less in Memphis (Zillow, September 2026).
- A typical home is valued at about $242,000 in Memphis and $363,000 in Knoxville.
- The gap is about where it was in 2019 (0.6%).
derived Calculated from BEA Regional Price Parities (2024) and Zillow data. Based on an average household's spending; taxes not included. How we calculate.
Category by category
Both cities against the US average (100). The gap in each row is what matters for a move.
Overall prices are about the same in Knoxville and Memphis
Price level by category, 2024. US average = 100.
- Knoxville, TN
- Memphis, TN
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Knoxville, TN | Memphis, TN | |
|---|---|---|
| All items | 92.6 | 92.2 |
| Goods | 96.2 | 96.2 |
| Housing (rents) | 82.8 | 79.8 |
| Utilities | 71.9 | 74.1 |
| Other services | 95.1 | 95.4 |
| Category | Knoxville | Memphis | Memphis vs Knoxville |
|---|---|---|---|
| All items | 92.6 | 92.2 | −0.4% |
| Goods | 96.2 | 96.2 | 0.0% |
| Housing (rents) | 82.8 | 79.8 | −3.6% |
| Utilities | 71.9 | 74.1 | +3.1% |
| Other services | 95.1 | 95.4 | +0.2% |
| Typical asking rent | $1,725 | $1,393 | −19.2% |
| Typical home value | $363,000 | $242,000 | −33.3% |
| Salary to match $75,000 in Knoxville | $75,000 | $74,700 | −0.4% |
Index values: BEA, 2024, US = 100. Rent and home values: Data Provided by Zillow Group, September 2026.
How the gap has changed since 2008
The price gap between Knoxville and Memphis has narrowed since 2008: 2.2 points then, 0.4 now
Overall price level each year, 2008–2024. US average = 100.
- Knoxville, TN
- Memphis, TN
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Knoxville, TN | Memphis, TN | |
|---|---|---|
| 2008 | 92.0 | 94.2 |
| 2009 | 91.4 | 92.7 |
| 2010 | 93.2 | 94.7 |
| 2011 | 93.9 | 95.0 |
| 2012 | 94.7 | 95.0 |
| 2013 | 93.4 | 94.7 |
| 2014 | 92.9 | 94.6 |
| 2015 | 92.8 | 94.2 |
| 2016 | 93.7 | 95.2 |
| 2017 | 93.2 | 94.2 |
| 2018 | 88.9 | 89.6 |
| 2019 | 90.8 | 91.3 |
| 2020 | 89.3 | 90.3 |
| 2021 | 89.9 | 90.3 |
| 2022 | 91.2 | 91.8 |
| 2023 | 92.2 | 91.9 |
| 2024 | 92.6 | 92.2 |
Goods
- Knoxville, TN
- Memphis, TN
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Knoxville, TN | Memphis, TN | |
|---|---|---|
| 2008 | 96.9 | 97.1 |
| 2009 | 94.6 | 94.9 |
| 2010 | 96.9 | 96.9 |
| 2011 | 96.5 | 96.7 |
| 2012 | 96.2 | 96.8 |
| 2013 | 96.7 | 97.1 |
| 2014 | 97.0 | 97.6 |
| 2015 | 95.9 | 96.3 |
| 2016 | 96.6 | 97.1 |
| 2017 | 96.4 | 96.9 |
| 2018 | 92.3 | 92.5 |
| 2019 | 94.5 | 94.6 |
| 2020 | 94.3 | 94.3 |
| 2021 | 93.9 | 93.9 |
| 2022 | 94.5 | 94.4 |
| 2023 | 94.3 | 94.3 |
| 2024 | 96.2 | 96.2 |
Housing (rents)
- Knoxville, TN
- Memphis, TN
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Knoxville, TN | Memphis, TN | |
|---|---|---|
| 2008 | 72.2 | 81.3 |
| 2009 | 74.3 | 79.5 |
| 2010 | 74.9 | 81.2 |
| 2011 | 74.9 | 78.3 |
| 2012 | 78.3 | 77.9 |
| 2013 | 73.4 | 78.0 |
| 2014 | 70.7 | 77.1 |
| 2015 | 69.8 | 75.8 |
| 2016 | 71.9 | 76.5 |
| 2017 | 72.1 | 75.8 |
| 2018 | 70.0 | 72.5 |
| 2019 | 74.2 | 75.4 |
| 2020 | 70.0 | 74.2 |
| 2021 | 72.5 | 74.3 |
| 2022 | 73.6 | 76.4 |
| 2023 | 78.6 | 77.3 |
| 2024 | 82.8 | 79.8 |
Utilities
- Knoxville, TN
- Memphis, TN
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Knoxville, TN | Memphis, TN | |
|---|---|---|
| 2008 | 80.1 | 82.5 |
| 2009 | 80.5 | 82.5 |
| 2010 | 81.2 | 81.9 |
| 2011 | 84.0 | 84.4 |
| 2012 | 84.1 | 84.3 |
| 2013 | 82.3 | 82.8 |
| 2014 | 84.3 | 84.2 |
| 2015 | 83.8 | 83.6 |
| 2016 | 83.0 | 82.7 |
| 2017 | 81.0 | 81.9 |
| 2018 | 77.4 | 79.6 |
| 2019 | 75.3 | 78.6 |
| 2020 | 73.2 | 76.8 |
| 2021 | 75.4 | 78.0 |
| 2022 | 77.0 | 78.9 |
| 2023 | 76.6 | 77.4 |
| 2024 | 71.9 | 74.1 |
Other services
- Knoxville, TN
- Memphis, TN
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Knoxville, TN | Memphis, TN | |
|---|---|---|
| 2008 | 97.8 | 98.1 |
| 2009 | 97.1 | 97.7 |
| 2010 | 99.2 | 99.8 |
| 2011 | 100.7 | 101.4 |
| 2012 | 101.3 | 101.6 |
| 2013 | 100.3 | 100.6 |
| 2014 | 100.1 | 100.3 |
| 2015 | 100.7 | 101.0 |
| 2016 | 101.7 | 102.3 |
| 2017 | 99.9 | 100.4 |
| 2018 | 94.5 | 94.8 |
| 2019 | 95.9 | 96.0 |
| 2020 | 95.1 | 95.1 |
| 2021 | 94.5 | 94.6 |
| 2022 | 96.6 | 96.7 |
| 2023 | 97.1 | 97.2 |
| 2024 | 95.1 | 95.4 |
Rent and home values
Typical asking rent: $1,393 in Memphis vs $1,725 in Knoxville
Typical asking rent for a new lease, dollars per month. Quarterly.
- Knoxville, TN
- Memphis, TN
- United States
Source: Zillow Observed Rent Index (typical asking rent, all homes, smoothed), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Knoxville, TN | Memphis, TN | United States | |
|---|---|---|---|
| Mar 2015 | $852 | $858 | $1,145 |
| Jun 2015 | $865 | $860 | $1,170 |
| Sep 2015 | $863 | $863 | $1,181 |
| Dec 2015 | $872 | $863 | $1,182 |
| Mar 2016 | $872 | $869 | $1,195 |
| Jun 2016 | $895 | $875 | $1,219 |
| Sep 2016 | $901 | $877 | $1,225 |
| Dec 2016 | $893 | $875 | $1,222 |
| Mar 2017 | $919 | $882 | $1,245 |
| Jun 2017 | $937 | $891 | $1,270 |
| Sep 2017 | $947 | $898 | $1,276 |
| Dec 2017 | $943 | $896 | $1,275 |
| Mar 2018 | $954 | $906 | $1,296 |
| Jun 2018 | $976 | $923 | $1,320 |
| Sep 2018 | $991 | $928 | $1,327 |
| Dec 2018 | $995 | $929 | $1,329 |
| Mar 2019 | $1,019 | $940 | $1,349 |
| Jun 2019 | $1,035 | $957 | $1,376 |
| Sep 2019 | $1,044 | $967 | $1,383 |
| Dec 2019 | $1,051 | $964 | $1,381 |
| Mar 2020 | $1,067 | $993 | $1,402 |
| Jun 2020 | $1,079 | $1,022 | $1,406 |
| Sep 2020 | $1,110 | $1,056 | $1,410 |
| Dec 2020 | $1,139 | $1,072 | $1,407 |
| Mar 2021 | $1,163 | $1,100 | $1,443 |
| Jun 2021 | $1,242 | $1,152 | $1,512 |
| Sep 2021 | $1,345 | $1,201 | $1,590 |
| Dec 2021 | $1,352 | $1,221 | $1,622 |
| Mar 2022 | $1,403 | $1,238 | $1,661 |
| Jun 2022 | $1,495 | $1,274 | $1,721 |
| Sep 2022 | $1,531 | $1,277 | $1,748 |
| Dec 2022 | $1,530 | $1,278 | $1,735 |
| Mar 2023 | $1,549 | $1,295 | $1,757 |
| Jun 2023 | $1,601 | $1,314 | $1,785 |
| Sep 2023 | $1,633 | $1,305 | $1,797 |
| Dec 2023 | $1,618 | $1,303 | $1,786 |
| Mar 2024 | $1,626 | $1,332 | $1,807 |
| Jun 2024 | $1,662 | $1,352 | $1,837 |
| Sep 2024 | $1,672 | $1,355 | $1,845 |
| Dec 2024 | $1,671 | $1,350 | $1,836 |
| Mar 2025 | $1,681 | $1,365 | $1,860 |
| Jun 2025 | $1,702 | $1,383 | $1,880 |
| Sep 2025 | $1,702 | $1,378 | $1,881 |
| Dec 2025 | $1,684 | $1,373 | $1,873 |
| Mar 2026 | $1,695 | $1,376 | $1,894 |
| Jun 2026 | $1,706 | $1,392 | $1,921 |
| Sep 2026 | $1,725 | $1,393 | $1,932 |
Typical home value: $242,000 in Memphis vs $363,000 in Knoxville
Typical home value, dollars. Quarterly.
- Knoxville, TN
- Memphis, TN
- United States
Source: Zillow Home Value Index (typical home value, middle tier, smoothed, seasonally adjusted), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Knoxville, TN | Memphis, TN | United States | |
|---|---|---|---|
| Mar 2015 | $153K | $122K | $189K |
| Jun 2015 | $155K | $124K | $192K |
| Sep 2015 | $157K | $126K | $195K |
| Dec 2015 | $158K | $127K | $199K |
| Mar 2016 | $160K | $129K | $202K |
| Jun 2016 | $162K | $129K | $204K |
| Sep 2016 | $163K | $130K | $206K |
| Dec 2016 | $166K | $133K | $209K |
| Mar 2017 | $168K | $135K | $213K |
| Jun 2017 | $170K | $137K | $216K |
| Sep 2017 | $173K | $140K | $219K |
| Dec 2017 | $176K | $143K | $223K |
| Mar 2018 | $179K | $145K | $227K |
| Jun 2018 | $182K | $148K | $230K |
| Sep 2018 | $185K | $151K | $234K |
| Dec 2018 | $187K | $154K | $236K |
| Mar 2019 | $189K | $157K | $239K |
| Jun 2019 | $192K | $159K | $242K |
| Sep 2019 | $195K | $162K | $244K |
| Dec 2019 | $200K | $165K | $247K |
| Mar 2020 | $205K | $169K | $252K |
| Jun 2020 | $208K | $173K | $255K |
| Sep 2020 | $213K | $178K | $260K |
| Dec 2020 | $224K | $186K | $271K |
| Mar 2021 | $235K | $193K | $282K |
| Jun 2021 | $249K | $203K | $296K |
| Sep 2021 | $260K | $210K | $306K |
| Dec 2021 | $269K | $217K | $314K |
| Mar 2022 | $288K | $229K | $330K |
| Jun 2022 | $307K | $240K | $346K |
| Sep 2022 | $312K | $244K | $348K |
| Dec 2022 | $311K | $243K | $345K |
| Mar 2023 | $313K | $240K | $343K |
| Jun 2023 | $325K | $241K | $347K |
| Sep 2023 | $336K | $242K | $352K |
| Dec 2023 | $343K | $241K | $354K |
| Mar 2024 | $346K | $243K | $357K |
| Jun 2024 | $352K | $245K | $361K |
| Sep 2024 | $353K | $243K | $361K |
| Dec 2024 | $355K | $243K | $363K |
| Mar 2025 | $357K | $244K | $364K |
| Jun 2025 | $356K | $243K | $362K |
| Sep 2025 | $356K | $242K | $362K |
| Dec 2025 | $359K | $242K | $364K |
| Mar 2026 | $362K | $244K | $366K |
| Jun 2026 | $363K | $243K | $365K |
| Sep 2026 | $363K | $242K | $366K |
More about each city
What this comparison leaves out
- Taxes. State and local income, sales and property taxes can change the result a lot, especially between states.
- Neighborhoods. These are metro-wide averages; a city center and its outer suburbs can differ by more than two metros do.
- Your own spending mix. The default uses an average household. Use the housing slider above if rent is a bigger share of your budget.
- Timing. BEA price levels are for 2024; Zillow figures are monthly and newer.