Median rent is 35% lower in Memphis ($1,181/mo vs $1,824/mo). Buying is cheaper in Memphis, where the median home runs $169,000 versus $484,900. Households earn more in Henderson ($90,138 vs $51,736 a year). Taken together, Memphis is the more affordable choice with a cost index of 91.9 against 98.3 — about 6% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Henderson, NV.
Cost of living verdict
Memphis is 6% cheaper overall
Cost of Living Index: 91.9 in Memphis vs 98.3 in Henderson (US national average = 100)
City A
Henderson, NV
City B
Memphis, TN
How much would you need to earn in Memphis, TN to maintain your standard of living from Henderson, NV?
Equivalent salary in Memphis, TN
$70,163
You could earn $4,837 less (6% lower) and break even.
Based on BEA Regional Price Parity (cost index) for each metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
Metric
Henderson
Nevada
Memphis
Tennessee
Population
Median Household Income
Annual
Median Gross Rent
Per month
Median Home Value
Cost of Living Index
US avg = 100
1BR Fair Market Rent
HUD FMR
2BR Fair Market Rent
HUD FMR
3BR Fair Market Rent
HUD FMR
Air Quality Index
Lower = cleaner
Top State Income Tax
Top marginal rate
State Sales Tax
Statewide base rate
Median Age
Years
✓ = better value · Sources: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Memphis — median rent of $1,181/mo versus $1,824/mo in Henderson, a 35% difference. Home buyers face a steeper market in Henderson: the median home is $484,900 versus $169,000 in Memphis — 65% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
State tax data is not yet available for these cities.
Henderson
Income tax: N/A
Sales tax: N/A
Memphis
Income tax: N/A
Sales tax: N/A
Both cities have similar air quality: Henderson averages 20.0 AQI (Good) and Memphis averages 19.0 AQI (Good).
Pick Memphis if you prioritize lower overall cost of living (index 91.9 vs 98.3).
Pick Henderson if you prioritize higher median household income ($90,138/yr).
Pick Memphis if you prioritize cheaper rent ($1,181/mo median).
Is Henderson cheaper than Memphis?
Memphis is cheaper overall, with a cost of living index of 91.9 versus 98.3 (US average = 100). That means prices run about 6% lower in Memphis.
How much is rent in Henderson vs Memphis?
Median rent is $1,824/mo in Henderson, NV and $1,181/mo in Memphis, TN. Memphis, TN has the lower rent by about 35%.
Which has higher salaries — Henderson or Memphis?
Median household income is $90,138 in Henderson, NV and $51,736 in Memphis, TN. Henderson, NV has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Memphis, TN has better air quality on average: 19.0 AQI versus 20.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Henderson or Memphis?
State tax data is not yet available for one or both cities.
What salary do I need in Memphis to match my Henderson income?
To maintain the same purchasing power, a salary of $100,000 in Henderson, NV is equivalent to roughly $93,550 in Memphis, TN (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
