Albion, IN vs Memphis, IN

There is a significant gap in the cost of living between these two cities. Albion is 19.3% cheaper than Memphis. With a cost index of 70 vs 87, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Albion to Memphis should plan for substantially higher expenses across most categories.

On the housing front, median rent in Albion is $875/month compared to $1,173/month in Memphis — a 25% difference. Home values follow the same pattern: Albion is more affordable at $138,200 median vs $233,600.

Median household income in Albion is $67,687 compared to $116,852 in Memphis (-42.1%). While Memphis is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Albion spend roughly 15.5% of their income on rent, more than the 12% in Memphis.