Median rent is 1% lower in Lexington-Fayette ($1,164/mo vs $1,181/mo). Buying is cheaper in Memphis, where the median home runs $169,000 versus $293,500. Households earn more in Lexington-Fayette ($69,479 vs $51,736 a year).
City A
Lexington-Fayette, KY
City B
Memphis, TN
How much would you need to earn in Memphis, TN to maintain your standard of living from Lexington-Fayette, KY?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
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
Lexington-Fayette
Kentucky
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
Median rents are similar in both cities: $1,164/mo in Lexington-Fayette and $1,181/mo in Memphis. Home buyers face a steeper market in Lexington-Fayette: the median home is $293,500 versus $169,000 in Memphis — 42% 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.
Lexington-Fayette
Income tax: N/A
Sales tax: N/A
Memphis
Income tax: N/A
Sales tax: N/A
Memphis has cleaner air on average: 19.0 AQI (Good) compared to 24.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Lexington-Fayette if you prioritize higher median household income ($69,479/yr).
Is Lexington-Fayette cheaper than Memphis?
Cost of living index data is not yet available for one or both cities.
How much is rent in Lexington-Fayette vs Memphis?
Median rent is $1,164/mo in Lexington-Fayette, KY and $1,181/mo in Memphis, TN. Lexington-Fayette, KY has the lower rent by about 1%.
Which has higher salaries — Lexington-Fayette or Memphis?
Median household income is $69,479 in Lexington-Fayette, KY and $51,736 in Memphis, TN. Lexington-Fayette, KY 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 24.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Lexington-Fayette or Memphis?
State tax data is not yet available for one or both cities.
What salary do I need in Memphis to match my Lexington-Fayette income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
