Salary Needed to Live in Memphis as a Single
A single adult living independently needs approximately $15,508/year to live comfortably in Memphis, TN — including 10% savings.
Comfortable Salary
$15,508
with 10% savings
Bare Minimum
$13,440
no savings buffer
Monthly Expenses
$840
23% below national avg
Detailed Monthly Budget for a Single in Memphis
| Expense | Memphis | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 Studio/1BR Rent | $68 | $113 | -40% |
| 🛒 Groceries | $15 | $17 | -12% |
| ⚡ Utilities | $12 | $14 | -14% |
| 🚗 Transportation | $21 | $26 | -19% |
| 🛡️ Car Insurance | $149 | $223 | -33% |
| 🏥 Health Insurance | $47 | $56 | -16% |
| Internet | $53 | $65 | -18% |
| Phone | $70 | $85 | -18% |
| Dining & Social | $246 | $300 | -18% |
| Entertainment | $98 | $120 | -18% |
| Personal Care | $61 | $75 | -19% |
| Total Monthly | $840 | $1,094 | -23% |
How We Calculated the Salary
Monthly expenses:$840
Target savings (10%):$108/mo
Monthly after-tax needed:$948
Effective tax rate:25%
Gross annual salary needed:$15,508
Other Household Types in Memphis
Related Pages
FAQ
What salary does a single person need in Memphis?
A single person needs approximately $15,508/year ($1,292/month gross) to live comfortably in Memphis with a 10% savings rate.
How much is rent for a single person in Memphis?
A studio/1br in Memphis costs approximately $68/month, which is the largest single expense at 8% of the total budget.
Is Memphis affordable for a single person?
Yes, Memphis is 23% more affordable than the national average for a single person.