Can I Afford to Live in Memphis vs Columbus on $120K?

Here's how a $120K/year salary plays out in both cities after taxes, rent, and core living expenses — based on Q1 2026 data.

Memphis, TN
$7,155/mo take-home
Rent: $1,100/mo (15% of take-home)
Very comfortable
Columbus, GA
$6,605/mo take-home
Rent: $1,100/mo (17% of take-home)
Very comfortable
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Monthly budget breakdown

Memphis
TN
Columbus
GA
Monthly take-home (est.)
$7,155Best ✓
$6,605
1BR rent
$1,100Best ✓
$1,100
Groceries (est.)
$357
$353Best ✓
Transport (est.)
$55
$40Best ✓
Utilities
$170
$160Best ✓
Internet
$55Best ✓
$58
Left after essentials
$5,418/month
$4,894/month
Memphis (Tennessee) has no state income tax, boosting take-home vs Columbus (GA rate: 5.5%).

Frequently asked questions

Is $120K a good salary in Memphis?

At $120K/year in Memphis, your estimated monthly take-home is $7,155. With 1BR rent around $1,100/month, rent takes up 15% of your take-home. That's considered very comfortable.

Is $120K a good salary in Columbus?

At $120K/year in Columbus, your estimated monthly take-home is $6,605. With 1BR rent around $1,100/month, rent takes up 17% of your take-home. That's considered very comfortable.

Which city is more affordable on a $120K salary?

Memphis leaves you with more money after core expenses — $5,418/month vs $4,894/month in Columbus.

Can I afford to live alone in Memphis on $120K?

Yes. At $120K in Memphis, rent takes 15% of your take-home, leaving $5,418/month after essentials. Most financial planners recommend keeping rent below 30%.

Compare other salary bands — Memphis vs Columbus

$40K$50K$60K$75K$80K$100K$150K

See the full cost-of-living comparison

Rent, groceries, taxes, transportation, and more — side by side.

Full comparison

Take-home estimates use simplified federal/state brackets and do not account for pre-tax deductions, 401(k), or local taxes. Data: Zillow, BLS, Numbeo · Q1 2026 · For general guidance only