Moving from Minneapolis to Memphis?
Here's what you'd need to earn to maintain your lifestyle.
To maintain your Minneapolis lifestyle in Memphis, you'd need to earn:
$65,954/year
▼ $9,046 less than you make now
| Category | Minneapolis | Memphis |
|---|---|---|
| Salary | $75,000 | $65,954 |
| Federal Income Tax | -$8,114 | -$6,124 |
| Social Security | -$4,650 | -$4,089 |
| Medicare | -$1,088 | -$956 |
| State Tax | -$4,628 | -$0 |
| Take-Home Pay | $56,521 | $54,785 |
Why the difference
- Cost of living is -12.1% in Memphis
- Housing is -28.6% in Memphis
- At the same $75,000 salary, you'd save $4,628/year in taxes in Memphis
Estimated Moving Costs
Distance: ~700 miles
DIY Truck
$3,000
Container
$5,000
Full-Service
$7,000
Salary Equivalents: Minneapolis to Memphis
| Your Minneapolis Salary | Memphis Equivalent | Difference | Memphis Take-Home |
|---|---|---|---|
| $40,000 | $35,175 | -$4,825 | $30,302 |
| $50,000 | $43,969 | -$6,031 | $37,368 |
| $60,000 | $52,763 | -$7,237 | $44,434 |
| $75,000 | $65,954 | -$9,046 | $54,785 |
| $100,000 | $87,939 | -$12,061 | $70,251 |
| $150,000 | $131,908 | -$18,092 | $100,912 |
Single filer, 2025 tax brackets, standard deduction. Equivalents based on BEA Regional Price Parities.
How Minneapolis and Memphis Compare
Housing (29% cheaper in Memphis)
The average 1-bedroom apartment in Memphis rents for $950/month compared to $1,330/month in Minneapolis. Median home prices: $236,000 in Memphis vs $327,000 in Minneapolis.
Taxes
Minnesota has a progressive state income tax from 5.3% to 9.8%. Tennessee has no state income tax. On a $75,000 salary, moving to Memphis would save you about $4,628/year in taxes alone.
Overall Cost of Living
Memphis's overall cost of living is 12.1% lower than Minneapolis, based on the BEA Regional Price Parity index (where 100 = national average).Minneapolis: 104.8, Memphis: 92.2.
Plan Your Move
Get Free Moving Quotes
Compare rates from licensed movers for your Minneapolis to Memphis move. Average cost: $3,000–$7,000.
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 →