Memphis, FL vs Oakland, FL

The cost of living difference between Memphis, FL and Oakland, FL is dramatic. Memphis is 34% cheaper than Oakland, a gap that translates to thousands of dollars per year in household expenses. Memphis has a cost index of 95 while Oakland sits at 145, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Memphis is $1,155/month compared to $2,279/month in Oakland — a 49% difference. Home values follow the same pattern: Memphis is more affordable at $292,200 median vs $487,900.

Median household income in Memphis is $71,967 compared to $142,917 in Oakland (-49.6%). While Oakland is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Memphis spend roughly 19.3% of their income on rent, more than the 19.1% in Oakland.

Climate-wise, both cities share similar average temperatures (74.1°F vs 73.8°F). Oakland receives more rainfall at 51.5" per year compared to 49.1" in Memphis.