Can I Afford to Live in Billings vs Memphis on $40K?
Here's how a $40K/year salary plays out in both cities after taxes, rent, and core living expenses — based on Q1 2026 data.
Monthly budget breakdown
| Expense | Billings MT | Memphis TN |
|---|---|---|
| Monthly take-home (est.) | $2,502 | $2,728 |
| 1BR rent | $1,200 | $1,100 |
| Groceries (est.) | $369 | $357 |
| Transport (est.) | $42 | $55 |
| Utilities | $148 | $170 |
| Internet | $68 | $55 |
| Left after essentials | $675/month | $991/month |
Frequently asked questions
Is $40K a good salary in Billings?
At $40K/year in Billings, your estimated monthly take-home is $2,502. With 1BR rent around $1,200/month, rent takes up 48% of your take-home. That's considered difficult.
Is $40K a good salary in Memphis?
At $40K/year in Memphis, your estimated monthly take-home is $2,728. With 1BR rent around $1,100/month, rent takes up 40% of your take-home. That's considered tight.
Which city is more affordable on a $40K salary?
Memphis leaves you with more money after core expenses — $991/month vs $675/month in Billings.
Can I afford to live alone in Billings on $40K?
It's tight. Rent in Billings would take 48% of your $40K take-home pay. You may need to find roommates or look at studios to stay within the 30% rule.
See the full cost-of-living comparison
Rent, groceries, taxes, transportation, and more — side by side.
Take-home estimates use simplified federal/state brackets and do not account for pre-tax deductions, 401(k), or local taxes. Data: Zillow, BLS, Numbeo · Q1 2026 · For general guidance only