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Cost of living in Memphis area (West Memphis, AR), TN/AR

Compared with New York. Change city

$2,429a month less for the typical home than in New York1,2

That's $29,151 a year, enough to cover 17 months of the mortgage in Memphis area (West Memphis, AR). The average commute is 11 minutes shorter each way, about 1.9 hours a week back4.

Typical home $299,950 vs $742,000. 2-bedroom rent3 $1,278 vs $1,997. See the math

By Sol Lakein.Checked October 2026.How we compare costs

Downtown Memphis from Big River Crossing, Memphis area (West Memphis, AR)Joshua J. Cotten / Unsplash
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  • Big-city lifeNBA team; Beale Street music
  • On the waterMississippi River

Memphis area (West Memphis, AR) at a glance, next to New York

5

What the median home costs each month

1,2
New York metro$4,078/mo
$742,000 typical home
Memphis area (West Memphis, AR)$1,648/mo
$299,950 typical home

If you rent: median 2-bedroom

3
New York metro$1,997/mo
Memphis area (West Memphis, AR)$1,278/mo
About $719 a month less in rent
Rent by apartment size in Memphis area (West Memphis, AR)

Home prices next to New York

1
Typical home for sale
New York metro$742,000
Memphis area (West Memphis, AR)$299,950
60% less, a $442,050 difference
Price per square foot
New York metro$494
Memphis area (West Memphis, AR)$153
3.2 times the space for the money

Pays you to move

9
$10,000 cashStart Fresh in West Memphis$10,000 for homebuyers or $5,000 for renters; package listed at $10,400Who qualifies: Full-time remote employee or self-employed, income of at least $75,000, living outside West Memphis now, and moving within 6 months.Program details, accessed 2026-10-30; site (C) 2026
$10,000 cashCareers Around West Memphis$10,000 for homebuyers or $5,000 for renters; package listed at $10,400Who qualifies: New full-time in-person job in the greater Memphis area paying at least $75,000 (current job at least $20,000), living outside West Memphis now, and living in West Memphis at least one year.Program details, accessed 2026-10-30; site (C) 2026

Weather

8
  • 33.3°January low
  • 91.9°July high
  • 2.7 inSnow per year

Day-to-day costs

  • Housing costs620% cheaper than averageNew York: 49% above
  • Salary that matches $150,000 in New York6$122,837
Memphis area (West Memphis, AR) in a paragraph

The median listed home in Memphis area (West Memphis, AR) is $299,950 (Realtor.com, September 2026), 28% below the US median of $419,250. With 20% down at 7.32%, principal and interest come to about $1,648 a month. The median 2-bedroom rent is $1,278 a month, utilities included (Census, 2025). Everyday prices index at 92.2, where the US average is 100 (BEA, 2024). A $150,000 salary in New York buys the same as $122,837 here.

Your New York, in Memphis area (West Memphis, AR)

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Is Memphis area (West Memphis, AR) a good place to live?

Memphis area (West Memphis, AR) fits families who want prices 8% below the US average and homes list 28% below the US median. The main trade-off is hot summers. Here is what you gain and what you give up.

What you gain

  • Prices 8% below the US averageEveryday prices, rent included, index at 92.2 against a US average of 100.BEA regional price parities, 2024
  • Homes list 28% below the US median$299,950 median listing against $419,250 nationally.Realtor.com via FRED, September 2026
  • Mild wintersJanuary lows average 33.3°F with 2.7 inches of snow a year.NOAA 1991-2020 normals
  • Nonstop flights to New YorkFrom MEM to LGA, EWR.Airport route page, October 15, 2026
Show 2 more
  • Pays you to moveStart Fresh in West Memphis: $10,000 cash.Program page, accessed 2026-10-30; site (C) 2026
  • On the waterMississippi RiverSlower Sundays city profile

What you trade

  • Hot summersJuly highs average 91.9°F.NOAA 1991-2020 normals

More on Memphis area (West Memphis, AR) and Arkansas

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Memphis area (West Memphis, AR) cost of living: questions people ask

What is the cost of living in Memphis area (West Memphis, AR), TN/AR?

The median listed home in Memphis area (West Memphis, AR) is $299,950 (Realtor.com, September 2026), 28% below the US median of $419,250. With 20% down at 7.32%, principal and interest come to about $1,648 a month. The median 2-bedroom rent is $1,278 a month, utilities included (Census, 2025). Everyday prices index at 92.2, where the US average is 100 (BEA, 2024). A $150,000 salary in New York buys the same as $122,837 here.

How much would I save moving from New York to Memphis area (West Memphis, AR)?

The median listed home is $299,950 in Memphis area (West Memphis, AR) against $742,000 in the New York metro, 60% less. On a mortgage for each median home, that is about $2,429 a month less in principal and interest (20% down, 7.32%, Freddie Mac, October 22, 2026).

How much is rent in Memphis area (West Memphis, AR)?

The median gross rent for a 2-bedroom in the Memphis area (West Memphis, AR) metro is $1,278 a month, including utilities the renter pays (Census American Community Survey, 2025). In the New York metro it is $1,997, $719 more. The US median is $1,563.

What salary in Memphis area (West Memphis, AR) matches $150,000 in New York?

$122,837. That is $150,000 adjusted by the BEA regional price parities for both metros (92.2 in Memphis area (West Memphis, AR), 112.6 in New York, 2024).

Does Memphis area (West Memphis, AR) pay you to move there?

Yes. Start Fresh in West Memphis offers $10,000 cash. Who qualifies: Full-time remote employee or self-employed, income of at least $75,000, living outside West Memphis now, and moving within 6 months.. Confirm current terms with the program.

What is the weather like in Memphis area (West Memphis, AR)?

January lows average 33.3°F and July highs 91.9°F, with 2.7 inches of snow a year (NOAA 1991-2020 normals, Memphis International Airport).

Notes on the numbers
  1. 1Home prices: the typical home is the median listing price, with price per square foot, from Realtor.com via FRED, September 2026. The comparison metro uses the same series and month.
  2. 2Monthly cost: Principal and interest on the median listed home with 20% down, 30-year fixed at 7.32% (Freddie Mac 30-year fixed average, week of October 22, 2026). Excludes taxes, insurance and HOA. Rate source
  3. 3Rent: Census ACS 2025 1-year, median gross rent for 2-bedroom units (rent plus utilities). Covers all renters, including long-time tenants, not only new leases. Census table
  4. 4Commute: Census ACS 2025 1-year, table S0801, mean travel time to work (one way, workers who do not work from home), 2025. Hours back assume a 5-day round trip. Census table
  5. 5At a glance: a difference within 5% counts as about the same.
  6. 6Everyday prices, housing costs and the matching salary: BEA regional price parities, 2024, US = 100.
  7. 7Flights: airport route pages, October 2026.
  8. 8Weather: NOAA 1991-2020 normals, Memphis International Airport.
  9. 9Incentives: terms come from each program's page. Confirm eligibility with the program before you move.
Sources for this page