Quick answer
Overall prices in the Phoenix, AZ metro were 103.3 vs 92.2 in Memphis, TN in 2024 (US = 100), so Phoenix is 12.1% more expensive than Memphis; housing rents differ by 52% (121.2 vs 79.8). A $75,000 income in Phoenix buys about what $66,915 buys in Memphis, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Phoenix | Memphis | Phoenix vs Memphis |
|---|---|---|---|
| All items | 103.3 | 92.2 | +12.1% |
| Goods | 95.0 | 96.2 | -1.2% |
| Housing (rents) | 121.2 | 79.8 | +51.9% |
| Utilities | 93.3 | 74.1 | +26.0% |
| Other services | 104.0 | 95.4 | +9.1% |
| All items, 2008 | 105.7 | 94.2 | +12.2% |
| $50,000 in Phoenix equals in Memphis | $44,610 | ||
| $100,000 in Phoenix equals in Memphis | $89,220 | ||
| $150,000 in Phoenix equals in Memphis | $133,831 |
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Last updated 2026-10-16. Data only, not financial or tax advice.