CostIndexUSA

Memphis, TN vs Winston-Salem, NC Cost of Living

Data: BEA Regional Price Parities · Census ACS · 2024

≈ Equal CostTN
Memphis
92.2
overall index
$1,425/mo rent
NC
Winston-Salem
92
overall index
$1,075/mo rent

Memphis and Winston-Salem have nearly identical costs of living.

Category Breakdown

Index values: 100 = U.S. national average. Higher = more expensive.

🏠 Housing−10.5%
Memphis
79.8
Winston-Salem
71.4
🛒 Groceries≈ Equal
Memphis
96.2
Winston-Salem
96.6
🚗 Transportation+3.0%
Memphis
100.1
Winston-Salem
103.1
🏥 Healthcare+3.0%
Memphis
90.6
Winston-Salem
93.3
⚡ Utilities+19.3%
Memphis
74.1
Winston-Salem
88.4

Salary Equivalency Calculator

Enter your current salary in Memphis to see what you'd need to earn in Winston-Salem to maintain the same purchasing power.

$
→
Equivalent salary in Winston-Salem, NC
$79,800
$200 less needed in Winston-Salem

Formula: salary × (92 ÷ 92.2) = salary × 0.9978. Based on BEA Regional Price Parities.

Housing Market

Memphis, TN

Median Home Price
$238,000
Median Monthly Rent
$1,425
Housing Index
79.8
Price-to-Rent Ratio
13.9×

Winston-Salem, NC

Median Home Price
$355,000
Median Monthly Rent
$1,075
Housing Index
71.4
Price-to-Rent Ratio
27.5×

Memphis has 10.5% lower housing costs compared to Winston-Salem.

Income & Job Market

Memphis, TN

Median Household Income
$64,000
Per Capita Income
$36,500
Unemployment Rate
5.7%
Population
633,104
Top Industries
LogisticsHealthcareManufacturingTourismGovernment

Winston-Salem, NC

Median Household Income
$64,400
Per Capita Income
$36,700
Unemployment Rate
4.2%
Population
247,945
Top Industries
HealthcareManufacturingFinanceEducationGovernment

Affordability at a Glance

Income-to-rent ratio: higher is better (more income relative to housing costs).

Memphis, TN
3.7×income-to-rent ratio

73% of income left after rent (median)

Winston-Salem, NC
5.0×income-to-rent ratio

80% of income left after rent (median)

Memphis vs other cities

Memphis, TN
vs
Chattanooga, TN
Index: 92.2Index: 91.5
Memphis, TN
vs
Clarksville, TN
Index: 92.2Index: 90.9
Memphis, TN
vs
Johnson City, TN
Index: 92.2Index: 87.9
Memphis, TN
vs
Louisville, KY
Index: 92.2Index: 93.1
Memphis, TN
vs
Las Vegas, NV
Index: 92.2Index: 100.2

Winston-Salem vs other cities

Winston-Salem, NC
vs
Asheville, NC
Index: 92Index: 96.5
Winston-Salem, NC
vs
Cary, NC
Index: 92Index: 98.2
Winston-Salem, NC
vs
Charlotte, NC
Index: 92Index: 97.3
Winston-Salem, NC
vs
Glendale, AZ
Index: 92Index: 103.3
Winston-Salem, NC
vs
Chesapeake, VA
Index: 92Index: 97.9

Data Sources: Bureau of Economic Analysis (BEA) Regional Price Parities 2024; U.S. Census Bureau American Community Survey (ACS); Bureau of Labor Statistics (BLS) Local Area Unemployment Statistics; Zillow Research.

Cost indices use 100 as the U.S. national average. Values above 100 indicate costs above the national average. Data is updated annually.

This data is for informational purposes only and should not be used as the sole basis for relocation or financial decisions.