City comparison
Memphis, TN vs Minneapolis, MN
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Minneapolis, MN are 13.7% higher than in Memphis, TN. Someone earning $100,000 in Memphis, TN would need about $113,700 in Minneapolis, MN to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $1,405 a month in Minneapolis, MN versus $1,154 in Memphis, TN. On $100,000, that's 23% of take-home pay in Minneapolis, MN and 17% in Memphis, TN.
- On $100,000, estimated state income tax is about $5,277 a year higher in Minneapolis, MN than in Memphis, TN.
- For federal employees, locality pay changes a GS-13 step 1 salary by +9.0% moving from Memphis, TN to Minneapolis, MN ($106,437 → $116,038), while prices change by +13.7%. Net effect of the transfer: −4.1% in real buying power.
- Memphis, TN: price level 92.2 (cheaper)
- Minneapolis, MN: price level 104.8 (pricier)
Map drawn from Census Bureau state boundaries and metro locations9,10; dot colours show BEA price levels2.
Side by side
| Memphis, TN | Minneapolis, MN | |
|---|---|---|
| Price level (U.S. = 100)2 | 92.2 | 104.8 |
| $100,000 is worth, in the other city2 | $113,716 in Minneapolis | $87,939 in Memphis |
| Typical 1-bedroom rent3 | $1,154/mo | $1,405/mo |
| Take-home on $100,00014,15,8 | $79,180 | $73,903 |
| State income tax on $100,000 (estimate)8 | $0 (TN) | $5,277 (MN) |
| Rent burden on $100,000 | 17% | 23% |
| Median pay, all jobs4 | $46,890 | $59,320 |
| Federal locality pay area7 | Rest of U.S. | Minneapolis-St. Paul, MN-WI |
Rent areas: Memphis, TN-MS-AR HUD Metro FMR Area and Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area. Metro areas: Memphis, TN-MS-AR and Minneapolis-St. Paul-Bloomington, MN-WI.
What costs more or less
| Price level (U.S. = 100) | Memphis | Minneapolis |
|---|---|---|
| Housing (rent) | 79.8 | 111.8 |
| Goods | 96.2 | 103.1 |
| Utilities | 74.1 | 93.5 |
| Other services | 95.4 | 104.4 |
| Overall | 92.2 | 104.8 |
Moving with the same $100,000 salary
Memphis, TN → Minneapolis, MN
Same pay buys less
Buying power −12.1%; rent takes 23% of take-home; state tax +$5,277/yr.
38 Weak offer
Minneapolis, MN → Memphis, TN
Same pay goes further
Buying power +13.7%; rent takes 17% of take-home; state tax −$5,277/yr.
100 Strong offer
On the GS pay scale?
Memphis, TN is in the Rest of U.S. pay area; Minneapolis, MN is in Minneapolis-St. Paul, MN-WI. The last column shows what a transfer from Memphis, TN to Minneapolis, MN at the same grade and step does to real buying power.
| Grade5,2 | Memphis, TN | Minneapolis, MN | Real change, Memphis → Minneapolis |
|---|---|---|---|
| GS-9 step 1 | $61,722 | $67,290 | −4.1% |
| GS-11 step 1 | $74,678 | $81,415 | −4.1% |
| GS-12 step 1 | $89,508 | $97,582 | −4.1% |
| GS-13 step 1 | $106,437 | $116,038 | −4.1% |
| GS-14 step 1 | $125,776 | $137,123 | −4.1% |
Pay for common jobs
| Median annual pay4 | Memphis, TN | Minneapolis, MN | Minneapolis pay in Memphis dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $61,510 | $79,730 | $70,113 (+14.0%) |
| Software Developers | $125,580 | $130,920 | $115,129 (−8.3%) |
| Accountants and Auditors | $76,960 | $86,500 | $76,067 (−1.2%) |
| Registered Nurses | $81,500 | $103,040 | $90,612 (+11.2%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.