Quick answer
Overall prices in the Miami, FL metro were 114.2 vs 92.2 in Memphis, TN in 2024 (US = 100), so Miami is 23.8% more expensive than Memphis; housing rents differ by 95% (155.6 vs 79.8). A $75,000 income in Miami buys about what $60,562 buys in Memphis, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Miami | Memphis | Miami vs Memphis |
|---|---|---|---|
| All items | 114.2 | 92.2 | +23.8% |
| Goods | 103.6 | 96.2 | +7.6% |
| Housing (rents) | 155.6 | 79.8 | +94.9% |
| Utilities | 97.2 | 74.1 | +31.2% |
| Other services | 109.1 | 95.4 | +14.4% |
| All items, 2008 | 106.5 | 94.2 | +13.1% |
| $50,000 in Miami equals in Memphis | $40,374 | ||
| $100,000 in Miami equals in Memphis | $80,749 | ||
| $150,000 in Miami equals in Memphis | $121,123 |
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Last updated 2026-10-16. Data only, not financial or tax advice.