Wake Forest, NC vs Collierville, TN: Cost of Living

Which city costs less?

Collierville, TN has a modeled overall cost index 12.0% lower than Wake Forest, NC.

Wake Forest, NC · modeled 2BR rent: $1,750 / month
Collierville, TN · modeled 2BR rent: $1,650 / month

These are saved estimates, not current rental listings. Some cities use adjusted regional data. Your household budget can differ from the overall index. Sources and assumptions

Adjust your income and compare the budget ↓

Tap to swap

Cost of Living Comparison 2026

Compare Wake Forest, NC and Collierville, TN using saved regional data and explicit budgeting assumptions. Rent estimates are not live listings. Change the salary below, then check the source notes before applying a result to your household.

Saved regional estimates · Sources and assumptions

Current salary in Wake Forest, NC

Numbers update automatically as you type

Estimated savings: $807/month in Collierville, TN

$150,000 in your current city has a modeled equivalent of $140,313 in Collierville, TN

Regional cost estimates: Wake Forest, NC uses Raleigh, NC. Collierville, TN uses Memphis, TN. Available city ZIP rent estimates are shown separately.

Overall Cost

↓ 12.0%

Less expensive

Monthly Impact

$807

Savings

Annual Impact

$9.7K

Per year

Assumes 60% of current gross income goes to living costs. The headline uses the category budget below; taxes, moving costs and savings goals are excluded.

Wake Forest, NC

Population:54K

Cost Index:

92.4

100 = national average

Typical Home:$505K

Collierville, TN

Population:51K

Cost Index:

81.3

100 = national average

Typical Home:$503K

Planning the move to Collierville?

Organize packing, address changes, and moving-day tasks with a free checklist. Your progress saves in this browser. No account needed.

Plan my move with the free checklist

Wake Forest, NC

The Tar Heel State

54K

Population

State Tax

Yes

Located in North Carolina, this city has a population of 54K residents.

Collierville, TN

The Volunteer State

51K

Population

State Tax

No Income Tax

Located in Tennessee, this city has a population of 51K residents.

💡 Advantage: Tennessee has no state income tax!

Cost Breakdown by Category

Estimated monthly spending: Wake Forest, NC vs Collierville, TN

Assumes 60% of your current gross income is spent on these categories. The headline and totals use this same budget. Rent estimates below are separate reference data. Rounded amounts may differ by $1.

Category	Wake Forest, NC	Collierville, TN	Difference	Change
Housing	$2,261/mo	$1,676/mo	↓ $584less	25.9%
Healthcare	$626/mo	$547/mo	↓ $79.66less	12.7%
Transportation	$1,306/mo	$1,255/mo	↓ $51.68less	4.0%
Other	$1,737/mo	$1,690/mo	↓ $47.51less	2.7%
Groceries	$1,000/mo	$975/mo	↓ $24.70less	2.5%
All Utilities	$569/mo	$550/mo	↓ $19.27less	3.4%

Housing

↓ 25.9%

Wake Forest, NC

$2,261

Collierville, TN

$1,676

Difference

$584

less

Healthcare

↓ 12.7%

Wake Forest, NC

$626

Collierville, TN

$547

Difference

$79.66

less

Transportation

↓ 4.0%

Wake Forest, NC

$1,306

Collierville, TN

$1,255

Difference

$51.68

less

Other

↓ 2.7%

Wake Forest, NC

$1,737

Collierville, TN

$1,690

Difference

$47.51

less

Groceries

↓ 2.5%

Wake Forest, NC

$1,000

Collierville, TN

$975

Difference

$24.70

less

All Utilities

↓ 3.4%

Wake Forest, NC

$569

Collierville, TN

$550

Difference

$19.27

less

🏠Rent Comparison

Studio

From$1,530

To$1,370

↓ $160

1 Bed

From$1,600

To$1,500

↓ $100

2 Bed

From$1,750

To$1,650

↓ $100

3 Bed

From$2,210

To$2,180

↓ $30.00

Wake Forest, NCZIP-level data

1BR range: $1,600–$1,600/mo

Collierville, TNZIP-level data

1BR range: $1,500–$1,500/mo

💡 Note: HUD Fair Market Rents estimate 40th-percentile gross rents, including most tenant-paid utilities. City ZIP summaries are medians of those estimates, not market median rents. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,500

Monthly in Wake Forest, NC

$6,693

Monthly in Collierville, TN

$807

Difference

Home Values

Wake Forest

Collierville

$505K

Median Value

$503K

↓ -1.8%

YoY Change

↓ -1.4%

↑ +39.9%

5-Year Change

↑ +27.9%

Calculate payment - Wake Forest Calculate payment - Collierville

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $7.1K

Per year

Monthly Difference

$594

More take-home

Effective Rate Diff

4.7%

Rate difference

Wake Forest, NC

Federal Income Tax

Effective: 18.9%

$25.5K

North Carolina State Tax

Effective: 4.8%

$7.1K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.4%

$44.1K

Take-Home Pay

$8,822/month

$105.9K

Collierville, TN

Federal Income Tax

Effective: 18.9%

$25.5K

Tennessee State Tax

No state income tax

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 24.7%

$37.0K

Take-Home Pay

$9,416/month

$113.0K

Additional Tax Information

Wake Forest, NC Tax Rates

Sales Tax:7.1%

Property Tax:0.8%

Collierville, TN Tax Rates

Sales Tax:9.5%

Property Tax:0.7%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.

Environment

Wake Forest

Collierville

46 Good

Air Quality

55 Moderate

61.7%

Good Air Days

34.4%

96 High

Climate Risk

99 High

🌊🌡🌪

Top Hazards

🌊🌡🫨

▲+2.8°F

2050 Outlook

▲+2.8°F

31 days

Heat Days >95°F

54 days

▲+2.8°F

2050 Outlook

▲+2.8°F

31 days

Heat Days >95°F

54 days

Before moving from Wake Forest, NC to Collierville, TN

Use this comparison to shortlist a move, then check the costs that depend on your household.

Compare actual homes. Get current quotes in Collierville, TN for the same bedroom count and included utilities as your home in Wake Forest, NC. Add parking, deposits, insurance and any overlapping leases. The rent estimates above are a starting point, not available listings.
Confirm your income. Check your expected pay with your employer, including any location adjustment. Use “Different salary at destination?” above to compare two incomes. The budget model excludes taxes and one-time moving costs; it is not a take-home-pay calculation.
Price your daily routine. Check the commute from a specific address to work, school or childcare. Add household expenses missing from this model, such as childcare, debt payments and medical needs. Verify local services before signing a lease.
Plan the transition. Get moving quotes and budget for travel, setup costs and time off. Open your Wake Forest to Collierville moving checklist to organize the tasks and timing.

Still choosing a destination? Explore cities similar to Collierville, TN by cost, housing, population and region.

Frequently Asked Questions: Wake Forest, NC vs Collierville, TN

How do the cost estimates for Wake Forest, NC and Collierville, TN compare?

Collierville, TN has a modeled overall cost index 12.0% lower than Wake Forest, NC. This is a broad model comparison, not a survey of today's prices or a forecast of your household spending. Some cities use adjusted regional fallback data.

What does the equivalent salary mean?

At a $150,000 salary in Wake Forest, NC, the model estimates $140,313 in Collierville, TN. It allocates 60% of gross income to the origin city’s category budget and applies each destination category’s relative cost. The equivalent salary adds the total category difference to your income. The monthly difference is the same category difference divided by 12; it is not take-home pay or guaranteed savings. Household size, childcare and your actual lease are not inputs to this calculation.

What rent estimates are available for Wake Forest, NC and Collierville, TN?

The modeled two-bedroom rents are $1,750/month in Wake Forest, NC and $1,650/month in Collierville, TN. Where available, the source is a city median of HUD FY2026 ZIP-level estimates; otherwise a saved metro table is used. City adjustments may also apply. These are not asking rents or available listings. Compare actual properties with the same bedroom count and included utilities.

How should I use this comparison before moving?

Use it to shortlist locations, then replace modeled costs with a current housing quote, employer-confirmed income, commute costs, insurance and your household's other expenses. Add one-time moving costs separately. Source years differ and the saved datasets are not a live price feed. Read the methodology for the formulas and fallback rules.

💰 See how taxes change too — compare take-home pay between North Carolina and Tennessee on TaxTakeHome.com