Median rent is 36% lower in Memphis ($1,181/mo vs $1,841/mo). Buying is cheaper in Memphis, where the median home runs $169,000 versus $465,900. Households earn more in Plano ($112,253 vs $51,736 a year).
City A
Memphis, TN
City B
Plano, TX
How much would you need to earn in Plano, TX to maintain your standard of living from Memphis, TN?
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
Memphis
Tennessee
Plano
Texas
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 $1,841/mo in Plano, a 36% difference. Home buyers face a steeper market in Plano: the median home is $465,900 versus $169,000 in Memphis — 64% more expensive.
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
Plano
Income tax: N/A
Sales tax: N/A
Memphis has cleaner air on average: 19.0 AQI (Good) compared to 55.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick Plano if you prioritize higher median household income ($112,253/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 Plano?
Cost of living index data is not yet available for one or both cities.
How much is rent in Memphis vs Plano?
Median rent is $1,181/mo in Memphis, TN and $1,841/mo in Plano, TX. Memphis, TN has the lower rent by about 36%.
Which has higher salaries — Memphis or Plano?
Median household income is $51,736 in Memphis, TN and $112,253 in Plano, TX. Plano, TX 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 55.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Memphis or Plano?
State tax data is not yet available for one or both cities.
What salary do I need in Plano to match my Memphis 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
