Comfortable living comes easier in Memphis, study says

MEMPHIS, Tenn. — Memphis ranks next-to-last on a new list — but this is one list where it’s good to be at the bottom: cost of living.

A new study by GoBankingrates.com tracks the income needed to “live comfortably” in America’s 50 largest cities.

At the top is San Jose, California, where it would take a whopping $285,255 a year to live comfortably.

At No. 49 on the list is Memphis, where that amount drops to $65,400 — less than one-fourth of San Jose and about $13,000 less than the median household income for the U.S. this year.

The only city lower on the list is Detroit, and only by a few dollars.

And the cost to live comfortably in our perennial competitor city Nashville? $107,000.

The rankings were based on the cost of necessities, including housing, groceries, healthcare, transportation, and miscellaneous necessities in each city. The site then doubled the amount spent on those items to arrive at an amount it calls comfortable.

It’s not just the cost of living that’s low in Memphis, but the cost of commuting, too. A survey by Lyft cited by Travel + Leisure says Memphis has the least expensive commute of any city in the country. The city scored high for the best parking, fuel, and public transit costs.

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