City comparison
Memphis, TN vs Toledo, OH
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Overall prices in Memphis, TN (92.2) and Toledo, OH (91.5, U.S. average = 100) are within 1% of each other, so $100,000 in Memphis, TN goes as far as $99,200 in Toledo, OH.
- Rent is the bigger story: a typical 1-bedroom costs $1,154 a month in Memphis, TN versus $820 in Toledo, OH. On $100,000, that's 17% of take-home pay in Memphis, TN and 13% in Toledo, OH.
- On $100,000, estimated state income tax is about $1,968 a year higher in Toledo, OH than in Memphis, TN.
- Both cities are in the same federal pay area (Rest of U.S.), so a GS-13 step 1 earns $106,437 in either. A transfer from Memphis, TN to Toledo, OH changes real buying power by +0.8%, purely from prices.
- Memphis, TN: price level 92.2 (cheaper)
- Toledo, OH: price level 91.5 (much cheaper)
Map drawn from Census Bureau state boundaries and metro locations9,10; dot colours show BEA price levels2.
Side by side
| Memphis, TN | Toledo, OH | |
|---|---|---|
| Price level (U.S. = 100)2 | 92.2 | 91.5 |
| $100,000 is worth, in the other city2 | $99,215 in Toledo | $100,792 in Memphis |
| Typical 1-bedroom rent3 | $1,154/mo | $820/mo |
| Take-home on $100,00014,15,8 | $79,180 | $77,212 |
| State income tax on $100,000 (estimate)8 | $0 (TN) | $1,968 (OH) |
| Rent burden on $100,000 | 17% | 13% |
| Median pay, all jobs4 | $46,890 | $48,220 |
| Federal locality pay area7 | Rest of U.S. | Rest of U.S. |
Rent areas: Memphis, TN-MS-AR HUD Metro FMR Area and Toledo, OH MSA. Metro areas: Memphis, TN-MS-AR and Toledo, OH.
What costs more or less
| Price level (U.S. = 100) | Memphis | Toledo |
|---|---|---|
| Housing (rent) | 79.8 | 67.3 |
| Goods | 96.2 | 93.6 |
| Utilities | 74.1 | 96.3 |
| Other services | 95.4 | 98.9 |
| Overall | 92.2 | 91.5 |
Moving with the same $100,000 salary
Memphis, TN → Toledo, OH
Roughly even
Buying power +0.8%; rent takes 13% of take-home; state tax +$1,968/yr.
71 Strong offer
Toledo, OH → Memphis, TN
Roughly even
Buying power −0.8%; rent takes 17% of take-home; state tax −$1,968/yr.
66 Fair offer
On the GS pay scale?
Both metros are in the Rest of U.S. locality pay area, so GS salaries are identical. The last column shows what a transfer from Memphis, TN to Toledo, OH at the same grade and step does to real buying power.
| Grade5,2 | Memphis, TN | Toledo, OH | Real change, Memphis → Toledo |
|---|---|---|---|
| GS-9 step 1 | $61,722 | $61,722 | +0.8% |
| GS-11 step 1 | $74,678 | $74,678 | +0.8% |
| GS-12 step 1 | $89,508 | $89,508 | +0.8% |
| GS-13 step 1 | $106,437 | $106,437 | +0.8% |
| GS-14 step 1 | $125,776 | $125,776 | +0.8% |
Pay for common jobs
| Median annual pay4 | Memphis, TN | Toledo, OH | Toledo pay in Memphis dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $61,510 | $63,250 | $63,751 (+3.6%) |
| Software Developers | $125,580 | $104,360 | $105,186 (−16.2%) |
| Accountants and Auditors | $76,960 | $77,400 | $78,013 (+1.4%) |
| Registered Nurses | $81,500 | $81,050 | $81,692 (+0.2%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.