Conway, MO vs Memphis, MO

Memphis is moderately more affordable than Conway, with a 9.3% lower cost of living index. Conway scores 62 compared to 57 for Memphis, where the US average is 100. This difference means residents of Conway can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Conway is $795/month compared to $491/month in Memphis — a 62% difference. Interestingly, home values tell a different story: while Memphis has cheaper rent, Conway actually has lower median home values ($78,800 vs $117,200).

Median household income in Conway is $34,153 compared to $49,598 in Memphis (-31.1%). Memphis offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Conway spend roughly 27.9% of their income on rent, more than the 11.9% in Memphis.