City comparison
Indianapolis, IN vs Memphis, TN
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Indianapolis, IN are 3.8% higher than in Memphis, TN. Someone earning $100,000 in Memphis, TN would need about $103,800 in Indianapolis, IN to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $1,267 a month in Indianapolis, IN versus $1,154 in Memphis, TN. On $100,000, that's 20% of take-home pay in Indianapolis, IN and 17% in Memphis, TN.
- On $100,000, estimated state income tax is about $2,921 a year higher in Indianapolis, IN than in Memphis, TN.
- For federal employees, locality pay changes a GS-13 step 1 salary by −0.9% moving from Indianapolis, IN to Memphis, TN ($107,428 → $106,437), while prices change by −3.7%. Net effect of the transfer: +2.9% in real buying power.
- Indianapolis, IN: price level 95.7 (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
| Indianapolis, IN | Memphis, TN | |
|---|---|---|
| Price level (U.S. = 100)2 | 95.7 | 92.2 |
| $100,000 is worth, in the other city2 | $96,325 in Memphis | $103,815 in Indianapolis |
| Typical 1-bedroom rent3 | $1,267/mo | $1,154/mo |
| Take-home on $100,00014,15,8 | $76,260 | $79,180 |
| State income tax on $100,000 (estimate)8 | $2,921 (IN) | $0 (TN) |
| Rent burden on $100,000 | 20% | 17% |
| Median pay, all jobs4 | $49,340 | $46,890 |
| Federal locality pay area7 | Indianapolis-Carmel-Muncie, IN | Rest of U.S. |
Rent areas: Indianapolis-Carmel, IN HUD Metro FMR Area and Memphis, TN-MS-AR HUD Metro FMR Area. Metro areas: Indianapolis-Carmel-Greenwood, IN and Memphis, TN-MS-AR.
What costs more or less
| Price level (U.S. = 100) | Indianapolis | Memphis |
|---|---|---|
| Housing (rent) | 88.9 | 79.8 |
| Goods | 94.3 | 96.2 |
| Utilities | 86.4 | 74.1 |
| Other services | 99.1 | 95.4 |
| Overall | 95.7 | 92.2 |
Moving with the same $100,000 salary
Indianapolis, IN → Memphis, TN
Same pay goes further
Buying power +3.8%; rent takes 17% of take-home; state tax −$2,921/yr.
81 Strong offer
Memphis, TN → Indianapolis, IN
Same pay buys less
Buying power −3.7%; rent takes 20% of take-home; state tax +$2,921/yr.
57 Fair offer
On the GS pay scale?
Indianapolis, IN is in the Indianapolis-Carmel-Muncie, IN pay area; Memphis, TN is in Rest of U.S.. The last column shows what a transfer from Indianapolis, IN to Memphis, TN at the same grade and step does to real buying power.
| Grade5,2 | Indianapolis, IN | Memphis, TN | Real change, Indianapolis → Memphis |
|---|---|---|---|
| GS-9 step 1 | $62,297 | $61,722 | +2.9% |
| GS-11 step 1 | $75,374 | $74,678 | +2.9% |
| GS-12 step 1 | $90,341 | $89,508 | +2.9% |
| GS-13 step 1 | $107,428 | $106,437 | +2.9% |
| GS-14 step 1 | $126,947 | $125,776 | +2.9% |
Pay for common jobs
| Median annual pay4 | Indianapolis, IN | Memphis, TN | Memphis pay in Indianapolis dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $60,510 | $61,510 | $63,857 (+5.5%) |
| Software Developers | $106,870 | $125,580 | $130,371 (+22.0%) |
| Accountants and Auditors | $79,290 | $76,960 | $79,896 (+0.8%) |
| Registered Nurses | $84,230 | $81,500 | $84,610 (+0.5%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.