Memphis, TN vs Palm Bay, FL
Simple answer
You'd likely save $478 a month in Memphis.
This is the HUD 2-bedroom fair-market rent for October 2026 through September 2027. It is not your lease.
The largest cost gap in this pair is housing prices. The BEA housing price parity differs by 31.9 points (Memphis 79.8, Palm Bay 111.7).
Tennessee has no tax on wages. Florida has no tax on wages. Combined sales tax differs by 2.6 percentage points, higher in Tennessee. The effective property tax gap is 0.31 percentage points, higher in Florida.
After a move from Tennessee to Florida, those two example households keep the same benefit status labels. A different income can still split Medicaid and marketplace credits.
A $75,000 salary in Memphis lines up with about $81,368 in Palm Bay on the 2024 all-items price parity. Census median gross rent and the commute figures are 2024. Fair Market Rents are fiscal year 2027.
Memphis
Memphis, TN-MS-AR
- 2-bedroom Fair Market Rent
- $1,301
- HUD area
- Memphis, TN-MS-AR HUD Metro FMR Area
- Census median gross rent
- $1,330
- All-items price parity
- 92.2
- Goods price parity
- 96.2
- Utilities price parity
- 74.1
- Mean commute
- 24.4 min
- Median household income
- $68,124
Palm Bay
Palm Bay-Melbourne-Titusville, FL
- 2-bedroom Fair Market Rent
- $1,779
- HUD area
- Palm Bay-Melbourne-Titusville, FL MSA
- Census median gross rent
- $1,681
- All-items price parity
- 100.0
- Goods price parity
- 96.2
- Utilities price parity
- 88.1
- Mean commute
- 26.5 min
- Median household income
- $78,196
Equivalent salary
The first number keeps the same place in the national price level. The second also runs 2026 federal income tax, employee Social Security and Medicare, and a simplified state income tax. Groceries use the BEA goods price parity, not a grocery receipt.
$81,368
Salary in Palm Bay that matches the 2024 all-items regional price parity.
$82,433
Gross salary in Palm Bay whose after-tax pay buys the same basket, using price parities.
$102,556
Scales the salary by the ratio of HUD 2-bedroom Fair Market Rents. Rent is not the whole budget.
Taxes on the two sides of the move
| Tax | Tennessee | Florida |
|---|---|---|
| State income tax on wages | No wage tax | No wage tax |
| Combined sales tax, Jan 1, 2026 | 9.6% | 7.0% |
| Effective property tax, ACS 2024 median / median | 0.45% | 0.75% |
On a $400,000 home, the state median effective rate implies about $1,790 a year in Tennessee and $3,016 in Florida. That illustration is not a local bill. Childcare prices are not in the verified dataset for these metros.
Benefits if you land in Florida
Same household, $40,000 a year, scored once in Tennessee and once in Florida. This is an illustration, not your application.
Food stamps (SNAP)
MemphisLikely eligible
Palm BayLikely eligible
Medicaid and CHIP
MemphisLikely eligible
Palm BayLikely eligible
WIC
MemphisLikely eligible
Palm BayLikely eligible
School meals
MemphisLikely eligible
Palm BayLikely eligible
LIHEAP
MemphisMaybe
Palm BayMaybe
Earned Income Tax Credit
MemphisLikely eligible
Palm BayLikely eligible
Child Tax Credit
MemphisLikely eligible
Palm BayLikely eligible
Marketplace premium tax credits
MemphisLikely eligible
Palm BayLikely eligible
Lifeline phone and internet
MemphisLikely eligible
Palm BayLikely eligible
SSI
MemphisUnlikely
Palm BayUnlikely
| Program | Memphis | Palm Bay |
|---|---|---|
| Food stamps (SNAP) | Likely eligible | Likely eligible |
| Medicaid and CHIP | Likely eligible | Likely eligible |
| WIC | Likely eligible | Likely eligible |
| School meals | Likely eligible | Likely eligible |
| LIHEAP | Maybe | Maybe |
| Earned Income Tax Credit | Likely eligible | Likely eligible |
| Child Tax Credit | Likely eligible | Likely eligible |
| Marketplace premium tax credits | Likely eligible | Likely eligible |
| Lifeline phone and internet | Likely eligible | Likely eligible |
| SSI | Unlikely | Unlikely |
At $40,000 the status labels match. A single adult around $18,000 is where Medicaid expansion and the marketplace coverage gap usually split.
Related comparisons
From Memphis
The eight largest 2-bedroom Fair Market Rent gaps from Memphis.
- Memphis and San Francisco · rent gap $2,396
- Memphis and San Jose · rent gap $1,971
- Memphis and Boston · rent gap $1,707
- Memphis and New York · rent gap $1,670
- Memphis and Los Angeles · rent gap $1,663
- Memphis and San Diego · rent gap $1,522
- Memphis and Miami · rent gap $1,263
- Memphis and Seattle · rent gap $1,248
Nearby metros
How the salary and tax math works · The reverse city order redirects to this address.