City comparison
Charlotte, NC vs Memphis, TN
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Charlotte, NC are 5.6% higher than in Memphis, TN. Someone earning $100,000 in Memphis, TN would need about $105,600 in Charlotte, NC to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $1,538 a month in Charlotte, NC versus $1,154 in Memphis, TN. On $100,000, that's 24% of take-home pay in Charlotte, NC and 17% in Memphis, TN.
- On $100,000, estimated state income tax is about $3,481 a year higher in Charlotte, NC than in Memphis, TN.
- For federal employees, locality pay changes a GS-13 step 1 salary by −2.2% moving from Charlotte, NC to Memphis, TN ($108,810 → $106,437), while prices change by −5.3%. Net effect of the transfer: +3.3% in real buying power.
- Charlotte, NC: price level 97.3 (cheaper)
- Memphis, TN: price level 92.2 (cheaper)
Map drawn from Census Bureau state boundaries and metro locations9,10; dot colours show BEA price levels2.
Side by side
| Charlotte, NC | Memphis, TN | |
|---|---|---|
| Price level (U.S. = 100)2 | 97.3 | 92.2 |
| $100,000 is worth, in the other city2 | $94,690 in Memphis | $105,608 in Charlotte |
| Typical 1-bedroom rent3 | $1,538/mo | $1,154/mo |
| Take-home on $100,00014,15,8 | $75,699 | $79,180 |
| State income tax on $100,000 (estimate)8 | $3,481 (NC) | $0 (TN) |
| Rent burden on $100,000 | 24% | 17% |
| Median pay, all jobs4 | $49,990 | $46,890 |
| Federal locality pay area7 | Charlotte-Concord, NC-SC | Rest of U.S. |
Rent areas: Charlotte-Concord-Gastonia, NC-SC HUD Metro FMR Area and Memphis, TN-MS-AR HUD Metro FMR Area. Metro areas: Charlotte-Concord-Gastonia, NC-SC and Memphis, TN-MS-AR.
What costs more or less
| Price level (U.S. = 100) | Charlotte | Memphis |
|---|---|---|
| Housing (rent) | 97.6 | 79.8 |
| Goods | 96.6 | 96.2 |
| Utilities | 89.2 | 74.1 |
| Other services | 98.2 | 95.4 |
| Overall | 97.3 | 92.2 |
Moving with the same $100,000 salary
Charlotte, NC → Memphis, TN
Same pay goes further
Buying power +5.6%; rent takes 17% of take-home; state tax −$3,481/yr.
86 Strong offer
Memphis, TN → Charlotte, NC
Same pay buys less
Buying power −5.3%; rent takes 24% of take-home; state tax +$3,481/yr.
52 Fair offer
On the GS pay scale?
Charlotte, NC is in the Charlotte-Concord, NC-SC pay area; Memphis, TN is in Rest of U.S.. The last column shows what a transfer from Charlotte, NC to Memphis, TN at the same grade and step does to real buying power.
| Grade5,2 | Charlotte, NC | Memphis, TN | Real change, Charlotte → Memphis |
|---|---|---|---|
| GS-9 step 1 | $63,098 | $61,722 | +3.3% |
| GS-11 step 1 | $76,343 | $74,678 | +3.3% |
| GS-12 step 1 | $91,503 | $89,508 | +3.3% |
| GS-13 step 1 | $108,810 | $106,437 | +3.3% |
| GS-14 step 1 | $128,581 | $125,776 | +3.3% |
Pay for common jobs
| Median annual pay4 | Charlotte, NC | Memphis, TN | Memphis pay in Charlotte dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $58,680 | $61,510 | $64,959 (+10.7%) |
| Software Developers | $135,920 | $125,580 | $132,622 (−2.4%) |
| Accountants and Auditors | $92,910 | $76,960 | $81,276 (−12.5%) |
| Registered Nurses | $90,620 | $81,500 | $86,070 (−5.0%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.