Memphis is about 3% more expensive than El Paso overall - $100,000 in El Paso is worth about $102,521 in Memphis.
Housing costs in El Paso and Memphis are fairly close. The median home in Memphis is $157,100 compared to $171,700 in El Paso - a modest gap that won’t dominate your relocation math.
Renters see the same pattern. The typical apartment in Memphis costs $1,123/month versus $1,041/month in El Paso. But income matters too: the median household in El Paso earns $58,734 and in Memphis earns $51,211. That means rent swallows about 21.3% of median income in El Paso and 26.3% in Memphis.
Both cities are similarly sized metros - El Paso has 678,147 people and Memphis has 629,063. That means comparable access to jobs, airports, and cultural amenities without the extremes of a mega-city.
Monthly cost breakdown: El Paso vs Memphis
These estimates use BLS Consumer Expenditure Survey shares scaled by each city’s cost-of-living index. Housing uses the city’s actual median rent; ownership uses a 6.7%, 30-year mortgage with 10% down on the median home.
| Category | El Paso (rent) | Memphis (rent) | El Paso (own) | Memphis (own) |
|---|---|---|---|---|
| Housing | $1,041 | $1,123 | $997 | $912 |
| Transportation | $722 | $645 | $722 | $645 |
| Food | $568 | $507 | $568 | $507 |
| Healthcare | $356 | $319 | $356 | $319 |
| Other | $1,267 | $1,133 | $1,267 | $1,133 |
| Total | $3,954 | $3,727 | $3,910 | $3,517 |
Scenario: who actually wins?
The Renter
If you rent a median apartment and keep other spending typical, your monthly nut in Memphis is roughly $13,476 per year in rent alone - $984 more than in El Paso. Add utilities, food, and transport and the annual gap widens. The crossover point: you need to earn about $102,521 in Memphis to match $100,000 in El Paso.
The First-Time Buyer
A 10% down payment on the median home costs $17,170 in Memphis versus $15,710 in El Paso. On a 30-year fixed mortgage at 6.7%, the monthly P&I difference is roughly $85. Over five years, that’s $5,087 in extra (or saved) housing costs.
The Remote Worker
If your salary is locked to a national scale regardless of location, El Paso is the obvious win. A $120,000 remote salary in El Paso has the purchasing power of about $123,026 in Memphis. The catch: some employers use location-based pay bands, which can erase part of that advantage.
The Family of Four
With two median incomes, a household in El Paso earns roughly $88,101 and in Memphis earns $76,816. After housing, the next biggest budget line is usually childcare and education - costs that vary less by city than housing does. The family math usually comes down to: can you afford the home you want on local salaries? In Memphis, that answer is harder.
El Paso vs Memphis: the numbers
| Metric | El Paso | Memphis | Difference |
|---|---|---|---|
| Cost-of-living index (US=100) | 90 | 92 | +3% |
| Median rent | $1,041 | $1,123 | +8% |
| Median home value | $171,700 | $157,100 | -8% |
| Median household income | $58,734 | $51,211 | -13% |
Cost of living = BEA Regional Price Parities (US average = 100). Rent, home value, and income from the U.S. Census ACS. See our methodology.
What your salary is worth
A $100,000 salary in El Paso has the same buying power as about $102,521 in Memphis. Going the other way, $100,000 in Memphis is like $97,541 in El Paso.
Use the calculator below to compare any salary between El Paso and Memphis.
Job market snapshot: El Paso vs Memphis
Highest-paying roles with available data. Median salary where BLS publishes one, otherwise the average - the median avoids skew from senior outliers, so it is preferred when present.
| Role | El Paso | Memphis | Difference |
|---|---|---|---|
| Marketing Manager | $97,650 | $132,720 | +36% |
| Software Developer | $106,750 | $113,500 | +6% |
| Data Scientist | $82,140 | $101,120 | +23% |
| Physical Therapist | $95,420 | $100,220 | +5% |
| Mechanical Engineer | $80,510 | $99,990 | +24% |
Moving from El Paso to Memphis: a practical checklist
Before you pack, run the numbers on these five items:
- Total compensation, not just base salary. Factor in bonuses, stock, 401(k) match, and remote-work stipends.
- Housing math for your situation. Rent vs. buy changes the winner. Use our calculator above to model both.
- State income tax. El Paso and Memphis are in different states, so your take-home pay will shift even if your gross salary stays flat. See our paycheck calculator for the exact difference.
- Commute and transportation. Gas, insurance, and tolls vary by metro. Check whether your new commute is longer or shorter.
- Healthcare network coverage. If you have employer-sponsored insurance, confirm your preferred doctors and hospitals are in-network in Memphis.
Run these through our cost-of-living calculator with your actual salary to get a personalized answer.