Can I Afford to Live in Memphis vs Medellín 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.

Memphis, TN
$2,728/mo take-home
Rent: $1,100/mo (40% of take-home)
Tight
Medellín, CO
$2,728/mo take-home
Rent: $500/mo (18% of take-home)
Very comfortable
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Monthly budget breakdown

Memphis
TN
Medellín
CO
Monthly take-home (est.)
$2,728Best ✓
$2,728
1BR rent
$1,100
$500Best ✓
Groceries (est.)
$357Best ✓
$380
Transport (est.)
$55Best ✓
$150
Utilities
$170
$55Best ✓
Internet
$55
$30Best ✓
Left after essentials
$991/month
$1,613/month
Both Memphis and Medellín have no state income tax — your take-home is higher than in most states.

Frequently asked questions

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.

Is $40K a good salary in Medellín?

At $40K/year in Medellín, your estimated monthly take-home is $2,728. With 1BR rent around $500/month, rent takes up 18% of your take-home. That's considered very comfortable.

Which city is more affordable on a $40K salary?

Medellín leaves you with more money after core expenses — $1,613/month vs $991/month in Memphis.

Can I afford to live alone in Memphis on $40K?

It's tight. Rent in Memphis would take 40% of your $40K take-home pay. You may need to find roommates or look at studios to stay within the 30% rule.

Compare other salary bands — Memphis vs Medellín

$50K$60K$75K$80K$100K$120K$150K

See the full cost-of-living comparison

Rent, groceries, taxes, transportation, and more — side by side.

Full comparison

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