Fairmount, IN vs Memphis, IN

There is a significant gap in the cost of living between these two cities. Fairmount is 24.3% cheaper than Memphis. With a cost index of 66 vs 87, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Fairmount to Memphis should plan for substantially higher expenses across most categories.

On the housing front, median rent in Fairmount is $827/month compared to $1,173/month in Memphis — a 30% difference. Home values follow the same pattern: Fairmount is more affordable at $96,700 median vs $233,600.

Median household income in Fairmount is $45,163 compared to $116,852 in Memphis (-61.4%). 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 Fairmount spend roughly 22% of their income on rent, more than the 12% in Memphis.