College Costs in Memphis, TN 2026
Compare tuition, housing, and financial aid across 22 colleges in Memphis, Tennessee. Use our free calculator to estimate your total cost.
Avg Public Tuition
$9,944
per year
Avg Private Tuition
$44,033
per year
Avg Rent Near Campus
$1,367
per month
Colleges & Universities
22
institutions
Memphis Overview
Population
633,104
Student Population
42,935 (6.8%)
Cost of Living Index
93 (avg: 100)
Walk Score
77/100
Transit Score
40/100
Unemployment Rate
3%
College Cost Calculator for Memphis
Cost Inputs
Total Cost (4 Years, Public In-State)
$96,328
Total After Financial Aid
$96,328
Annual Cost
$24,082
Annual After Aid
$24,082
Cost Breakdown (4 Years)
If Financed (10-Year Loan at 6.5%)
| Loan Amount | $96,328 |
| Monthly Payment | $1,094 |
| Total Interest | $34,926 |
| Total Loan Cost | $131,254 |
Universities in Memphis
| University | Type | Annual Tuition |
|---|---|---|
| University of Memphis | Public | $9,944 |
| Rhodes College | Private | $52,366 |
| Christian Brothers University | Private | $35,700 |
| Southwest Tennessee Community College | Community | $4,464 |
Memphis has 22 total colleges and universities. Tuition figures are approximate annual in-state rates for the 2025-2026 academic year.
Cost of Living in Memphis vs. National Average
| Category | Memphis | National Avg | Difference |
|---|---|---|---|
| Public Tuition (In-State) | $9,944 | $10,940 | -$996 |
| Monthly Rent Near Campus | $1,367 | $1,050 | +$317 |
| Cost of Living Index | 93 | 100 | -7 |
Memphis's cost of living is below the national average. This makes it a more affordable city for students compared to many other college towns.
Student Life in Memphis
Walk Score
Very Walkable
Transit Score
Some Transit
Student Population
42,935 students
Memphis has a total population of 633,104, with approximately 42,935 college students (6.8% of the population). While not primarily a college town, Memphis offers students access to urban amenities, diverse employment opportunities, and a wide range of cultural experiences.
Post-Graduation Outlook in Memphis
$48,274
Starting Salary
3%
Unemployment Rate
72%
Graduation Rate
~7 yrs
ROI Payback Period
Return on Investment Analysis
Graduates from colleges in Memphis earn a median starting salary of $48,274, which is $13,274 more per year than the average high school graduate salary of $35,000. At a 4-year public university cost of $96,328 (including room and board), it would take approximately 7 years of the salary premium to recoup the investment. With average financial aid of $10,619 per student per year, the net cost and payback period can be significantly reduced.
Other Cities in Tennessee
Nashville
35 colleges · Avg tuition $9,312
Knoxville
5 colleges · Avg tuition $8,792
Chattanooga
5 colleges · Avg tuition $9,648
Clarksville
9 colleges · Avg tuition $9,312
Murfreesboro
10 colleges · Avg tuition $9,312
Johnson City
6 colleges · Avg tuition $9,312
Cookeville
4 colleges · Avg tuition $9,312
Sewanee
3 colleges · Avg tuition $11,397
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