Springfield wins overall by ~5% (COL index)
Cost of living: Springfield vs Memphis (2026)
A $60,000 salary in Springfield buys roughly what $63,038 does in Memphis (COL-adjusted). Your real trade-offs are taxes, rent, and day-to-day prices — we break them down and personalize below.
Your move simulator
Tell us about your household — we calculate your real annual savings.
Estimated annual swing
−$399/yr
Favoring Memphis for this income & household (illustrative).
With an extra $33/mo in Memphis, you could max a Roth IRA contribution faster and still grow your savings buffer.
Studio rent/mo
1BR rent/mo
2BR rent/mo
Median home price
Groceries index (100 = US avg)
Budget meal (1 person)
Mid-range dinner (2)
Monthly transit pass/mo
Gas price/gal
Car insurance/mo
Monthly utilities bundle/mo
Internet/mo
Median household income/yr
State income tax%
Sales tax (combined)%
Movie ticket
Gym membership/mo
Beer at restaurant
Overall COL index (100 = US avg)
Walk score / 100
| Category | Springfield Missouri | Memphis Tennessee | Who wins | Your impact at $60K · 1br · 1 car |
|---|---|---|---|---|
| 🏠 HousingQ1 2026 | ||||
| Studio rent/mo | $750Wins | $900 | Springfield wins +$150/mo | $1,800/yr saves in Springfield |
| 1BR rent/mo | $950Wins | $1,100 | Springfield wins +$150/mo | $1,800/yr saves in Springfield |
| 2BR rent/mo | $1,250Better | $1,400 | Springfield wins +$150/mo | $1,800/yr saves in Springfield |
| Median home price | $185KBetter | $200K | Springfield wins +$15K | — |
| 🛒 Food & GroceriesQ1 2026 | ||||
| Groceries index (100 = US avg) | 93Better | 94 | Springfield wins +1 | — |
| Budget meal (1 person) | $10Wins | $12 | Springfield wins +$2/mo | — |
| Mid-range dinner (2) | $44Better | $48 | Springfield wins +$4/mo | — |
| 🚌 TransportationQ1 2026 | ||||
| Monthly transit pass/mo | $42Wins | $55 | Springfield wins +$13/mo | — |
| Gas price/gal | $2.95Better | $3.00 | Springfield wins +$0.05 | — |
| Car insurance/mo | $145Wins | $190 | Springfield wins +$45/mo | $540/yr saves in Springfield |
| ⚡ UtilitiesQ1 2026 | ||||
| Monthly utilities bundle/mo | $155Better | $170 | Springfield wins +$15/mo | — |
| Internet/mo | $58 | $55Better | Memphis wins −$3/mo | — |
| 💰 Income & TaxesQ1 2026 | ||||
| Median household income/yr | $47KBetter | $42K | Springfield wins −$5K more/yr | — |
| State income tax% | 4.7% | 0.0%Wins | Memphis wins -4.7 pp | $2,820/yr saves in Memphis |
| Sales tax (combined)% | 8.3%Wins | 9.8% | Springfield wins +1.5 pp | — |
| 🎬 LeisureQ1 2026 | ||||
| Movie ticket | $12.00Better | $13.00 | Springfield wins +$1.00 | — |
| Gym membership/mo | $30Better | $30 | — | — |
| Beer at restaurant | $4.50Better | $5.00 | Springfield wins +$0.50 | — |
| 📊 OverviewQ1 2026 | ||||
| Overall COL index (100 = US avg) | 79Better | 83 | Springfield wins +4 | — |
| Walk score / 100 | 26 | 31Wins | Memphis wins +5 more/yr | — |
Complete the Picture
While you’re comparing — don’t leave money on the table.
Tax-smart rewards
Turn ~$2,820/yr tax difference into cash back
Springfield fits your move math — cash-back cards stack on groceries, gas, and dining you're already doing.
Home + auto bundle
New state — new insurance rates
Bundling often saves hundreds/yr. Compare before you sign a lease in Springfield.
High-yield savings
Grow your move fund while you shop for homes
Don't let relocation cash sit at 0% — put it to work until closing day.
More ways to compare this move
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Open the full interactive tool to add up to 5 cities, drop in your salary, and see rent burden.
Open full interactive toolComplete the Picture
While you’re comparing — don’t leave money on the table.
If cash is tight
Knock down high-interest debt first
A move has upfront costs — a balance transfer or personal loan can lower APR while you settle in.
If you're saving big
Invest the surplus on autopilot
Brokerages and robo-advisors help you dollar-cost average into the market with your new slack.
Frequently asked questions
Is Springfield cheaper than Memphis?
Yes. Springfield is 5% cheaper than Memphis based on overall cost of living indices (79 vs 83, where 100 = US average).
What is the average rent in Springfield vs Memphis?
As of Q1 2026, the median 1-bedroom rent in Springfield is $950/month and in Memphis is $1,100/month. Springfield is cheaper by 14%.
How much do I need to earn in Memphis to match a $75,000 salary in Springfield?
To maintain a similar lifestyle, you would need approximately $78,797/year in Memphis to match a $75,000 salary in Springfield. This estimate is based on overall cost of living indices and does not account for individual spending patterns.
Which city has lower taxes — Springfield or Memphis?
Memphis has the lower state income tax rate at 0% vs 4.7%. Memphis has no state income tax at all, which can save thousands of dollars per year depending on your income. Note that sales tax and local taxes also vary — see the full breakdown in the table above.
Is it worth moving from Springfield to Memphis?
It depends on your priorities. Springfield offers lower overall costs and tax advantages, but both cities have different job markets, weather, and lifestyle trade-offs. Use the comparison table above to evaluate rent, groceries, transportation, and income potential side by side based on your specific budget.
Data sourced from Zillow, BLS, Numbeo, Tax Foundation, and US Census ACS · Updated Q1 2026 · For general guidance only
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Salary equivalent: Springfield ↔ Memphis
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