City comparison
Hickory, NC vs Memphis, TN
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Memphis, TN are 4.2% higher than in Hickory, NC. Someone earning $100,000 in Hickory, NC would need about $104,200 in Memphis, TN to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $1,154 a month in Memphis, TN versus $908 in Hickory, NC. On $100,000, that's 17% of take-home pay in Memphis, TN and 14% in Hickory, NC.
- On $100,000, estimated state income tax is about $3,481 a year higher in Hickory, NC than in Memphis, TN.
- For federal employees, locality pay changes a GS-13 step 1 salary by −2.2% moving from Hickory, NC to Memphis, TN ($108,810 → $106,437), while prices change by +4.2%. Net effect of the transfer: −6.1% in real buying power.
- Hickory, NC: price level 88.5 (much 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
| Hickory, NC | Memphis, TN | |
|---|---|---|
| Price level (U.S. = 100)2 | 88.5 | 92.2 |
| $100,000 is worth, in the other city2 | $104,174 in Memphis | $95,994 in Hickory |
| Typical 1-bedroom rent3 | $908/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 | 14% | 17% |
| Median pay, all jobs4 | $45,220 | $46,890 |
| Federal locality pay area7 | Charlotte-Concord, NC-SC | Rest of U.S. |
Rent areas: Hickory-Lenoir-Morganton, NC MSA and Memphis, TN-MS-AR HUD Metro FMR Area. Metro areas: Hickory-Lenoir-Morganton, NC and Memphis, TN-MS-AR.
What costs more or less
| Price level (U.S. = 100) | Hickory | Memphis |
|---|---|---|
| Housing (rent) | 59.6 | 79.8 |
| Goods | 96.6 | 96.2 |
| Utilities | 87.8 | 74.1 |
| Other services | 98.2 | 95.4 |
| Overall | 88.5 | 92.2 |
Moving with the same $100,000 salary
Hickory, NC → Memphis, TN
Same pay buys less
Buying power −4.0%; rent takes 17% of take-home; state tax −$3,481/yr.
56 Fair offer
Memphis, TN → Hickory, NC
Same pay goes further
Buying power +4.2%; rent takes 14% of take-home; state tax +$3,481/yr.
82 Strong offer
On the GS pay scale?
Hickory, 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 Hickory, NC to Memphis, TN at the same grade and step does to real buying power.
| Grade5,2 | Hickory, NC | Memphis, TN | Real change, Hickory → Memphis |
|---|---|---|---|
| GS-9 step 1 | $63,098 | $61,722 | −6.1% |
| GS-11 step 1 | $76,343 | $74,678 | −6.1% |
| GS-12 step 1 | $91,503 | $89,508 | −6.1% |
| GS-13 step 1 | $108,810 | $106,437 | −6.1% |
| GS-14 step 1 | $128,581 | $125,776 | −6.1% |
Pay for common jobs
| Median annual pay4 | Hickory, NC | Memphis, TN | Memphis pay in Hickory dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $49,540 | $61,510 | $59,046 (+19.2%) |
| Software Developers | $122,540 | $125,580 | $120,549 (−1.6%) |
| Accountants and Auditors | $77,490 | $76,960 | $73,877 (−4.7%) |
| Registered Nurses | $80,060 | $81,500 | $78,235 (−2.3%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.