Quick answer
Overall prices in the Detroit, MI metro were 100.3 vs 92.2 in Memphis, TN in 2024 (US = 100), so Detroit is 8.8% more expensive than Memphis; housing rents differ by 19% (94.7 vs 79.8). A $75,000 income in Detroit buys about what $68,929 buys in Memphis, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Detroit | Memphis | Detroit vs Memphis |
|---|---|---|---|
| All items | 100.3 | 92.2 | +8.8% |
| Goods | 98.8 | 96.2 | +2.7% |
| Housing (rents) | 94.7 | 79.8 | +18.6% |
| Utilities | 107.0 | 74.1 | +44.4% |
| Other services | 102.6 | 95.4 | +7.6% |
| All items, 2008 | 100.6 | 94.2 | +6.8% |
| $50,000 in Detroit equals in Memphis | $45,953 | ||
| $100,000 in Detroit equals in Memphis | $91,905 | ||
| $150,000 in Detroit equals in Memphis | $137,858 |
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Last updated 2026-10-16. Data only, not financial or tax advice.