Is $60K a Good Salary in Memphis, TN?
Full budget breakdown for Memphis on $60K/year — take-home after taxes, rent burden, what you can afford, and how it compares to the city median.
Monthly budget in Memphis on $60K
US average equivalent
$72,000
Your $60K in Memphis (COL: 83) buys the same as $72,000/yr in a city with average US cost of living.
vs Memphis median
+43%
The median household income in Memphis is $42,000/yr. You're earning 43% above that.
Cities where $60K goes further
These cities have a lower rent burden at $60K than Memphis.
Other salary levels in Memphis
Frequently asked questions
Is $60K a good salary in Memphis?
$60K/year in Memphis gives you approximately $3,793/month in take-home pay after federal and state taxes. With a median 1BR rent of $1,100/month, your rent burden is 29% of take-home — which is considered manageable. Memphis is one of the more affordable cities for this salary, ranking #21 out of 179 cities.
How much is $60K after taxes in Memphis?
On $60K/year in Memphis (TN), you take home approximately $3,793/month after federal income tax, FICA (no state income tax in ${city.state_code}), and FICA. That is roughly $45,516/year net.
What is the cost of living in Memphis on $60K?
Monthly estimated costs in Memphis: rent $1,100, groceries ~$357, transportation ~$55, utilities ~$170, internet ~$55. Total estimated expenses: ~$1,737/month, leaving ~$2,056/month after essentials on a $60K salary.
Tax estimates use 2026 brackets · Rent data: Zillow Observed Rent Index · Budget figures are estimates for general guidance only