Discovering the Cheapest Cities in America to Reside

04 Memphis, Tennessee

The subject of many-a-song, Memphis is the largest city in the state and on the Mississippi. One of Tennessee's younger cities, it's also been attracting a younger group of people. Indeed, what started out as a planned city by Andrew Jackson is now one of the hippest cities in the country. It's also home to Elvis's Graceland and buzzing music and cultural scenes. Median household incomes might be $39,333, but rent prices are lower than the national average. What this all adds up to is its residents having a cost of living that's 15.7% less than the rest of the US. What would Elvis have to say about that?