Median rent is 40% lower in Memphis ($1,181/mo vs $1,979/mo). Buying is cheaper in Memphis, where the median home runs $169,000 versus $929,900. Households earn more in Oakland ($101,600 vs $51,736 a year). Taken together, Memphis is the more affordable choice with a cost index of 91.9 against 117.6 — about 22% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Oakland, CA.
Cost of living verdict
Memphis is 22% cheaper overall
Cost of Living Index: 91.9 in Memphis vs 117.6 in Oakland (US national average = 100)
City A
Memphis, TN
City B
Oakland, CA
How much would you need to earn in Oakland, CA to maintain your standard of living from Memphis, TN?
Equivalent salary in Oakland, CA
$95,885
You'd need $20,885 more (28% higher).
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
Memphis
Tennessee
Oakland
California
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 $1,979/mo in Oakland, a 40% difference. Home buyers face a steeper market in Oakland: the median home is $929,900 versus $169,000 in Memphis — 82% 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.
Memphis
Income tax: N/A
Sales tax: N/A
Oakland
Income tax: N/A
Sales tax: N/A
Memphis has cleaner air on average: 19.0 AQI (Good) compared to 60.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick Memphis if you prioritize lower overall cost of living (index 91.9 vs 117.6).
Pick Oakland if you prioritize higher median household income ($101,600/yr).
Pick Memphis if you prioritize cheaper rent ($1,181/mo median).
Pick Memphis if you prioritize cleaner air quality (avg AQI 19.0).
Is Memphis cheaper than Oakland?
Memphis is cheaper overall, with a cost of living index of 91.9 versus 117.6 (US average = 100). That means prices run about 22% lower in Memphis.
How much is rent in Memphis vs Oakland?
Median rent is $1,181/mo in Memphis, TN and $1,979/mo in Oakland, CA. Memphis, TN has the lower rent by about 40%.
Which has higher salaries — Memphis or Oakland?
Median household income is $51,736 in Memphis, TN and $101,600 in Oakland, CA. Oakland, CA 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 60.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Memphis or Oakland?
State tax data is not yet available for one or both cities.
What salary do I need in Oakland to match my Memphis income?
To maintain the same purchasing power, a salary of $100,000 in Memphis, TN is equivalent to roughly $127,846 in Oakland, CA (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
