Salary Needed to Live in Memphis as a Single
A single adult living independently needs approximately $48,997/year to live comfortably in Memphis, TN, including 10% savings.
Direct Answer
A single person needs about $48,997/year to live comfortably in Memphis, TN. The bare-minimum salary is $42,464/year, but the comfortable figure includes a 10% savings target and a monthly after-tax budget of $2,994.
The minimum scenario leaves about $2,654/mo after tax and no planned savings. The comfortable scenario uses $4,083/mo gross pay to cover expenses, taxes, and a savings buffer.
Hybrid salary estimateBLS, HUD, ACS inputsLast verified May 2026
Comfortable Salary
$48,997
with 10% savings
Bare Minimum
$42,464
$3,539/mo gross, no savings buffer
Monthly Expenses
$2,654
26% below national avg
Detailed Monthly Budget for a Single in Memphis
| Expense | Memphis | Nat'l Avg | Diff |
|---|---|---|---|
| Studio/1BR Rent | $827 | $1,351 | -39% |
| Groceries | $179 | $207 | -14% |
| Utilities | $150 | $169 | -11% |
| Transportation | $254 | $316 | -20% |
| Car Insurance | $149 | $223 | -33% |
| Health Insurance | $567 | $672 | -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 | $2,654 | $3,583 | -26% |
How We Calculated the Salary
Monthly expenses:$2,654
Target savings (10%):$340/mo
Monthly after-tax needed:$2,994
Effective tax rate:25%
Gross annual salary needed:$48,997
What Drives the Salary Number?
Housing
$827
Studio/1BR rent is 31% of this monthly budget.
Taxes
25%
Estimated federal plus TN state tax reserve used to convert take-home needs into gross salary.
Savings target
10%
$340/mo is reserved for savings so the salary is not just break-even.
Local index
82/100
Memphis is below the national baseline; the model adjusts baseline spending by local rent and cost data.
Compare Salary Needed in Nearby south Cities
Salary Planning Checklist
- Keep studio/1br housing near $827/mo or adjust the salary target upward.
- Budget $528/mo for persona-specific costs such as Internet and Phone.
- Use $42,464/year as the survival floor and $48,997/year as the healthier negotiation target.
Other Household Types in Memphis
Related Pages
FAQ
What salary does a single person need in Memphis?
A single person needs approximately $48,997/year ($4,083/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 $827/month, which is the largest single expense at 31% of the total budget.
Is Memphis affordable for a single person?
Yes, Memphis is 26% more affordable than the national average for a single person.