What is the Average Cost of living in Memphis per month/year?

The average cost of living in Memphis, Tennessee per month is well below the national average with health expenses being the only index factor at the average. Food prices, transportation cost and items like clothing, restaurants, entertainment and repairs are around 7% to 10% below while the cost of daily costs such as electricity, gas and telephone is 16% lower than the norm. Housing is much cheaper in Memphis with the median listing price at $171,175.