Median rent is 19% lower in Memphis ($1,181/mo vs $1,457/mo). Buying is cheaper in Memphis, where the median home runs $169,000 versus $412,200. Households earn more in Hoover ($109,253 vs $51,736 a year). Taken together, Hoover is the more affordable choice with a cost index of 91.8 against 91.9 — about 0% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Hoover, AL.
City A
Hoover, AL
City B
Memphis, TN
How much would you need to earn in Memphis, TN to maintain your standard of living from Hoover, AL?
Equivalent salary in Memphis, TN
$75,149
You'd need $149 more (0% higher).
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Hoover
Alabama
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: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Memphis at $1,181/mo compared to $1,457/mo in Hoover (19% gap). Home buyers face a steeper market in Hoover: the median home is $412,200 versus $169,000 in Memphis — 59% 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.
Hoover
Income tax: N/A
Sales tax: N/A
Memphis
Income tax: N/A
Sales tax: N/A
Air quality data is available for Memphis (avg AQI 19.0) but not yet for Hoover.
Pick Hoover if you prioritize higher median household income ($109,253/yr).
Pick Memphis if you prioritize cheaper rent ($1,181/mo median).
Is Hoover cheaper than Memphis?
Hoover is cheaper overall, with a cost of living index of 91.8 versus 91.9 (US average = 100). That means prices run about 0% lower in Hoover.
How much is rent in Hoover vs Memphis?
Median rent is $1,457/mo in Hoover, AL and $1,181/mo in Memphis, TN. Memphis, TN has the lower rent by about 19%.
Which has higher salaries — Hoover or Memphis?
Median household income is $109,253 in Hoover, AL and $51,736 in Memphis, TN. Hoover, AL 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?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Hoover or Memphis?
State tax data is not yet available for one or both cities.
What salary do I need in Memphis to match my Hoover income?
To maintain the same purchasing power, a salary of $100,000 in Hoover, AL is equivalent to roughly $100,198 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
