Recent inflation has caused assisted living costs in Memphis to significantly increase. From 2022 to 2024, prices rose by approximately 18%, from $3,756 to a projected $4,432. Averages in the state of Tennessee were 11% lower than Memphis in 2022, but for 2024, they're expected to be higher by about 2.5%. Collierville, a neighboring city, experienced a nearly identical impact from inflation, with a 17.9% increase from $5,513 to $6,505. Costs also rose in Jackson and Nashville by about 17.9%. Projections for 2024 show costs will continue to affect assisted living in Memphis and surrounding areas.