City comparison
Memphis, TN vs Miami, FL
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Miami, FL are 23.8% higher than in Memphis, TN. Someone earning $100,000 in Memphis, TN would need about $123,800 in Miami, FL to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $1,995 a month in Miami, FL versus $1,154 in Memphis, TN. On $100,000, that's 30% of take-home pay in Miami, FL and 17% in Memphis, TN.
- Estimated state income tax on $100,000 is close: $0 a year in TN and $0 in FL.
- For federal employees, locality pay changes a GS-13 step 1 salary by +6.5% moving from Memphis, TN to Miami, FL ($106,437 → $113,356), while prices change by +23.8%. Net effect of the transfer: −14.0% in real buying power.
- Memphis, TN: price level 92.2 (cheaper)
- Miami, FL: price level 114.2 (much pricier)
Map drawn from Census Bureau state boundaries and metro locations9,10; dot colours show BEA price levels2.
Side by side
| Memphis, TN | Miami, FL | |
|---|---|---|
| Price level (U.S. = 100)2 | 92.2 | 114.2 |
| $100,000 is worth, in the other city2 | $123,841 in Miami | $80,749 in Memphis |
| Typical 1-bedroom rent3 | $1,154/mo | $1,995/mo |
| Take-home on $100,00014,15,8 | $79,180 | $79,180 |
| State income tax on $100,000 (estimate)8 | $0 (TN) | $0 (FL) |
| Rent burden on $100,000 | 17% | 30% |
| Median pay, all jobs4 | $46,890 | $48,640 |
| Federal locality pay area7 | Rest of U.S. | Miami-Port St. Lucie-Fort Lauderdale, FL |
Rent areas: Memphis, TN-MS-AR HUD Metro FMR Area and Miami-Miami Beach-Kendall, FL HUD Metro FMR Area. Metro areas: Memphis, TN-MS-AR and Miami-Fort Lauderdale-West Palm Beach, FL.
What costs more or less
| Price level (U.S. = 100) | Memphis | Miami |
|---|---|---|
| Housing (rent) | 79.8 | 155.6 |
| Goods | 96.2 | 103.6 |
| Utilities | 74.1 | 97.2 |
| Other services | 95.4 | 109.1 |
| Overall | 92.2 | 114.2 |
Moving with the same $100,000 salary
Memphis, TN → Miami, FL
Same pay buys less
Buying power −19.3%; rent takes 30% of take-home; state tax +$0/yr.
30 Weak offer
Miami, FL → Memphis, TN
Same pay goes further
Buying power +23.8%; rent takes 17% of take-home; state tax +$0/yr.
100 Strong offer
On the GS pay scale?
Memphis, TN is in the Rest of U.S. pay area; Miami, FL is in Miami-Port St. Lucie-Fort Lauderdale, FL. The last column shows what a transfer from Memphis, TN to Miami, FL at the same grade and step does to real buying power.
| Grade5,2 | Memphis, TN | Miami, FL | Real change, Memphis → Miami |
|---|---|---|---|
| GS-9 step 1 | $61,722 | $65,735 | −14.0% |
| GS-11 step 1 | $74,678 | $79,533 | −14.0% |
| GS-12 step 1 | $89,508 | $95,326 | −14.0% |
| GS-13 step 1 | $106,437 | $113,356 | −14.0% |
| GS-14 step 1 | $125,776 | $133,953 | −14.0% |
Pay for common jobs
| Median annual pay4 | Memphis, TN | Miami, FL | Miami pay in Memphis dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $61,510 | $58,300 | $47,077 (−23.5%) |
| Software Developers | $125,580 | $132,650 | $107,114 (−14.7%) |
| Accountants and Auditors | $76,960 | $80,920 | $65,342 (−15.1%) |
| Registered Nurses | $81,500 | $91,380 | $73,788 (−9.5%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.