Moving from Chicago to Memphis?
Here's what you'd need to earn to maintain your lifestyle.
To maintain your Chicago lifestyle in Memphis, you'd need to earn:
$61,053/year
▼ $13,947 less than you make now
| Category | Chicago | Memphis |
|---|---|---|
| Salary | $75,000 | $61,053 |
| Federal Income Tax | -$8,114 | -$5,288 |
| Social Security | -$4,650 | -$3,785 |
| Medicare | -$1,088 | -$885 |
| State Tax | -$3,713 | -$0 |
| Take-Home Pay | $57,436 | $51,095 |
Why the difference
- Cost of living is -11.0% in Memphis
- Housing is -28.7% in Memphis
- At the same $75,000 salary, you'd save $3,713/year in taxes in Memphis
Estimated Moving Costs
Distance: ~483 miles
DIY Truck
$2,000
Container
$3,500
Full-Service
$5,000
Salary Equivalents: Chicago to Memphis
| Your Chicago Salary | Memphis Equivalent | Difference | Memphis Take-Home |
|---|---|---|---|
| $40,000 | $33,119 | -$6,881 | $28,650 |
| $50,000 | $41,494 | -$8,506 | $35,379 |
| $60,000 | $49,808 | -$10,192 | $42,059 |
| $75,000 | $61,053 | -$13,947 | $51,095 |
| $100,000 | $81,390 | -$18,610 | $65,644 |
| $150,000 | $122,063 | -$27,937 | $94,183 |
Single filer, 2025 tax brackets, standard deduction. Equivalents based on BEA Regional Price Parities.
How Chicago and Memphis Compare
Housing (29% cheaper in Memphis)
The average 1-bedroom apartment in Memphis rents for $950/month compared to $1,975/month in Chicago. Median home prices: $236,000 in Memphis vs $374,000 in Chicago.
Taxes
Illinois has a flat 5.0% state income tax. Tennessee has no state income tax. On a $75,000 salary, moving to Memphis would save you about $3,713/year in taxes alone.
Overall Cost of Living
Memphis's overall cost of living is 11.0% lower than Chicago, based on the BEA Regional Price Parity index (where 100 = national average).Chicago: 103.6, Memphis: 92.2.
Plan Your Move
Get Free Moving Quotes
Compare rates from licensed movers for your Chicago to Memphis move. Average cost: $2,000–$5,000.
Compare Moving Quotes →Find Apartments in Memphis
Average 1BR rent in Memphis: $950/month. Browse available listings.
Search Apartments →High-Yield Savings
Park your moving fund in a 4.5%+ APY savings account while you plan your relocation.
Compare Savings Rates →