Quick answer
Overall prices in the Indianapolis, IN metro were 95.7 vs 92.2 in Memphis, TN in 2024 (US = 100), so Indianapolis is 3.8% more expensive than Memphis; housing rents differ by 11% (88.9 vs 79.8). A $75,000 income in Indianapolis buys about what $72,244 buys in Memphis, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Indianapolis | Memphis | Indianapolis vs Memphis |
|---|---|---|---|
| All items | 95.7 | 92.2 | +3.8% |
| Goods | 94.3 | 96.2 | -2.0% |
| Housing (rents) | 88.9 | 79.8 | +11.4% |
| Utilities | 86.4 | 74.1 | +16.5% |
| Other services | 99.1 | 95.4 | +4.0% |
| All items, 2008 | 96.7 | 94.2 | +2.7% |
| $50,000 in Indianapolis equals in Memphis | $48,162 | ||
| $100,000 in Indianapolis equals in Memphis | $96,325 | ||
| $150,000 in Indianapolis equals in Memphis | $144,487 |
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Last updated 2026-10-16. Data only, not financial or tax advice.