Cost of Living: Memphis, TN vs Vernon, NJ
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Memphis | Vernon |
|---|---|---|
| Housing Index | 87.5 | 105.0 |
| Median Home Price | $185,000 | $350,000 |
| Average Rent (2 BR Apartment) | $1200 | $1800 |
| Average Rent (2 BR House) | $1256 | $1875 |
Housing Comparison: Memphis vs Vernon
- The median home price in Vernon is higher at $350,000, compared to $185,000 in Memphis.
- In Vernon, the rental for a two-bedroom apartment stands at $1,800, while it is $1,200 in Memphis.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Memphis | Vernon |
|---|---|---|
| Electricity Price | $12.57 | $19.88 |
| Natural Gas Price | $12.35 | $14.01 |
| Other Utilities | $200 | $250 |
Utilities Comparison: Memphis vs Vernon
- Vernon has higher electricity costs at $19.88 per kWh, versus $12.57 in Memphis.
- Vernon experiences higher natural gas costs at $14.01 per unit, with costs at $12.35 in Memphis.
- Vernon has higher utility expenses, averaging $250, while Memphis averages $200.