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:
$66,732/year
▼ $8,268 less than you make now
| Category | Chicago | Memphis |
|---|---|---|
| Salary | $75,000 | $66,732 |
| Federal Income Tax | -$8,114 | -$6,295 |
| Social Security | -$4,650 | -$4,137 |
| Medicare | -$1,088 | -$968 |
| State Tax | -$3,713 | -$0 |
| Take-Home Pay | $57,436 | $55,332 |
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 | $35,590 | -$4,410 | $30,635 |
| $50,000 | $44,488 | -$5,512 | $37,785 |
| $60,000 | $53,386 | -$6,614 | $44,934 |
| $75,000 | $66,732 | -$8,268 | $55,332 |
| $100,000 | $88,976 | -$11,024 | $70,981 |
| $150,000 | $133,464 | -$16,536 | $101,976 |
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 →