173rd most affordable of 199 in Metro Detroit
Cost of Living in Memphis, MI
A typical home in Memphis costs about $1,220 a month, 25.6% of the median household income of $57,222. That makes Memphis the 23rd most affordable of 27 places in Macomb County and 173rd of 199 across Metro Detroit.
- Median rent a month
- $820
- Median home value
- $213,300
- Owner cost with a mortgage
- $1,619
- Of income on housing
- 25.6%
Memphis against Macomb County and the metro
| Census median | Memphis | Macomb County | Metro Detroit |
|---|---|---|---|
| Median rent (monthly) | $820 | $1,211 | $1,207 |
| Median home value | $213,300 | $243,900 | $249,700 |
| Owner cost with a mortgage (monthly) | $1,619 | $1,628 | $1,720 |
| Median household income (yearly) | $57,222 | $77,837 | $76,664 |
| Share of income on housing | 25.6% | 21.9% | 22.9% |
Ranked 23rd most affordable of 27 in Macomb County. See all 27.
Cost of living near Memphis
The towns around Memphis, each with its own page.
- Richmond Township Rent $0 · Home $378,800 42nd most affordable in the metro
- Riley Township Rent $1,305 · Home $348,500 99th most affordable in the metro
- Columbus Township Rent $1,430 · Home $323,200 95th most affordable in the metro
- Wales Township Rent $869 · Home $273,700 9th most affordable in the metro
- Richmond Rent $864 · Home $237,700 103rd most affordable in the metro
- Armada Rent $1,061 · Home $274,300 19th most affordable in the metro
- Armada Township Rent $1,053 · Home $331,100 14th most affordable in the metro
- Berlin Township Rent $784 · Home $313,100 21st most affordable in the metro
Living in Memphis
- Homes for sale in Memphis Listings and off-market deals
- Rentals in Memphis Houses and apartments for rent
- Memphis crime rate From Memphis's own police reports
- Cost of living in Macomb County Every town in the county, ranked
- Most affordable cities in Metro Detroit All six counties, ranked
- Memphis city guide Pros, homes and city services
Memphis cost of living questions
5 questions
Is Memphis, MI expensive to live in?
A typical home in Memphis takes 25.6% of the median household income, against 22.9% across Metro Detroit, which ranks it 173rd most affordable of 199 places.
What is the average rent in Memphis?
The median gross rent is $820 a month, rent plus the utilities the renter pays, 32% below the metro.
How much does a house cost in Memphis?
Owners put the median home value at $213,300, 15% below the metro. With a mortgage, the median owner pays $1,619 a month for the mortgage, taxes, insurance and utilities.
What income do you need to live in Memphis?
Spending no more than 30% of income on housing, the usual rule, a typical Memphis home at $1,220 a month calls for about $49,000 a year. The median household here earns $57,222.
Where do these numbers come from?
The U.S. Census Bureau's American Community Survey 2020-2024 5-year estimates for Memphis. They are medians, half above and half below, and today's listings and rents can differ.
Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates.