Moving from Richmond to Memphis?
Here's what you'd need to earn to maintain your lifestyle.
To maintain your Richmond lifestyle in Memphis, you'd need to earn:
$70,648/year
▼ $4,352 less than you make now
| Category | Richmond | Memphis |
|---|---|---|
| Salary | $75,000 | $70,648 |
| Federal Income Tax | -$8,114 | -$7,157 |
| Social Security | -$4,650 | -$4,380 |
| Medicare | -$1,088 | -$1,024 |
| State Tax | -$4,055 | -$0 |
| Take-Home Pay | $57,094 | $58,087 |
Why the difference
- Cost of living is -5.8% in Memphis
- Housing is -19.5% in Memphis
- At the same $75,000 salary, you'd save $4,055/year in taxes in Memphis
Estimated Moving Costs
Distance: ~721 miles
DIY Truck
$3,000
Container
$5,000
Full-Service
$7,000
Salary Equivalents: Richmond to Memphis
| Your Richmond Salary | Memphis Equivalent | Difference | Memphis Take-Home |
|---|---|---|---|
| $40,000 | $37,679 | -$2,321 | $32,314 |
| $50,000 | $47,098 | -$2,902 | $39,882 |
| $60,000 | $56,518 | -$3,482 | $47,451 |
| $75,000 | $70,648 | -$4,352 | $58,087 |
| $100,000 | $94,197 | -$5,803 | $74,654 |
| $150,000 | $141,295 | -$8,705 | $107,328 |
Single filer, 2025 tax brackets, standard deduction. Equivalents based on BEA Regional Price Parities.
How Richmond and Memphis Compare
Housing (19% cheaper in Memphis)
The average 1-bedroom apartment in Memphis rents for $950/month compared to $1,430/month in Richmond. Median home prices: $236,000 in Memphis vs $360,000 in Richmond.
Taxes
Virginia has a progressive state income tax from 2.0% to 5.8%. Tennessee has no state income tax. On a $75,000 salary, moving to Memphis would save you about $4,055/year in taxes alone.
Overall Cost of Living
Memphis's overall cost of living is 5.8% lower than Richmond, based on the BEA Regional Price Parity index (where 100 = national average).Richmond: 97.9, Memphis: 92.2.
Plan Your Move
Get Free Moving Quotes
Compare rates from licensed movers for your Richmond 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 →