Memphis is about 0% less expensive than Omaha overall - $100,000 in Omaha is worth about $99,709 in Memphis.
Housing costs separate Memphis and Omaha more than any other category. The median home in Memphis runs $157,100 versus $230,100 in Omaha, a 46% gap that matters whether you’re buying now or saving for a future purchase.
Renters see the same pattern. The typical apartment in Memphis costs $1,123/month versus $1,150/month in Omaha. But income matters too: the median household in Memphis earns $51,211 and in Omaha earns $72,708. That means rent swallows about 26.3% of median income in Memphis and 19.0% in Omaha.
Both cities are similarly sized metros - Memphis has 629,063 people and Omaha has 488,197. That means comparable access to jobs, airports, and cultural amenities without the extremes of a mega-city.
Monthly cost breakdown: Memphis vs Omaha
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 | Memphis (rent) | Omaha (rent) | Memphis (own) | Omaha (own) |
|---|---|---|---|---|
| Housing | $1,123 | $1,150 | $912 | $1,336 |
| Transportation | $645 | $913 | $645 | $913 |
| Food | $507 | $718 | $507 | $718 |
| Healthcare | $319 | $451 | $319 | $451 |
| Other | $1,133 | $1,604 | $1,133 | $1,604 |
| Total | $3,727 | $4,837 | $3,517 | $5,023 |
Scenario: who actually wins?
The Renter
If you rent a median apartment and keep other spending typical, your monthly nut in Memphis is roughly $13,800 per year in rent alone - $324 more than in Omaha. Add utilities, food, and transport and the annual gap widens. The crossover point: you need to earn about $99,709 in Memphis to match $100,000 in Omaha.
The First-Time Buyer
A 10% down payment on the median home costs $23,010 in Memphis versus $15,710 in Omaha. On a 30-year fixed mortgage at 6.7%, the monthly P&I difference is roughly $424. Over five years, that’s $25,437 in extra (or saved) housing costs.
The Remote Worker
If your salary is locked to a national scale regardless of location, Omaha is the obvious win. A $120,000 remote salary in Omaha has the purchasing power of about $120,350 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 Memphis earns roughly $76,816 and in Omaha earns $109,062. 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.
Memphis vs Omaha: the numbers
| Metric | Memphis | Omaha | Difference |
|---|---|---|---|
| Cost-of-living index (US=100) | 92 | 92 | -0% |
| Median rent | $1,123 | $1,150 | +2% |
| Median home value | $157,100 | $230,100 | +46% |
| Median household income | $51,211 | $72,708 | +42% |
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 Memphis has the same buying power as about $99,709 in Omaha. Going the other way, $100,000 in Omaha is like $100,292 in Memphis.
Use the calculator below to compare any salary between Memphis and Omaha.
Job market snapshot: Memphis vs Omaha
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 | Memphis | Omaha | Difference |
|---|---|---|---|
| Marketing Manager | $132,720 | $111,930 | -16% |
| Software Developer | $113,500 | $112,130 | -1% |
| Data Scientist | $101,120 | $95,550 | -6% |
| Physical Therapist | $100,220 | $87,210 | -13% |
| Mechanical Engineer | $99,990 | $86,240 | -14% |
Moving from Memphis to Omaha: 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. Memphis and Omaha 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 Omaha.
Run these through our cost-of-living calculator with your actual salary to get a personalized answer.