Quick answer
Overall prices in the Philadelphia, PA metro were 102.6 vs 92.2 in Memphis, TN in 2024 (US = 100), so Philadelphia is 11.3% more expensive than Memphis; housing rents differ by 42% (113.1 vs 79.8). A $75,000 income in Philadelphia buys about what $67,413 buys in Memphis, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Philadelphia | Memphis | Philadelphia vs Memphis |
|---|---|---|---|
| All items | 102.6 | 92.2 | +11.3% |
| Goods | 96.8 | 96.2 | +0.6% |
| Housing (rents) | 113.1 | 79.8 | +41.8% |
| Utilities | 114.4 | 74.1 | +54.4% |
| Other services | 103.1 | 95.4 | +8.1% |
| All items, 2008 | 106.4 | 94.2 | +13.0% |
| $50,000 in Philadelphia equals in Memphis | $44,942 | ||
| $100,000 in Philadelphia equals in Memphis | $89,883 | ||
| $150,000 in Philadelphia equals in Memphis | $134,825 |
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Last updated 2026-10-16. Data only, not financial or tax advice.