The Council for Community and Economic Research ranked Memphis as the fifth lowest in the nation in terms of cost of living.
“Memphis is the least expensive major metropolitan area to live in the continental United States,” said Greater Memphis Chamber director of research Adrienne Johnson. “A family of four can save on housing, groceries and receive the best health care in the country while building their savings accounts," said Johnson.
The data is based on prices from grocery stores, housing, utility, health care and other miscellaneous goods and services simultaneously gathered by volunteer organizations around the country.
The pricing period lasts three days during the first three quarters of each year.