Cost of Living: Nashville, TN vs Memphis, TN (2026)

Nashville

Tennessee
110
VS

Memphis

Tennessee
68

Nashville is 62% more expensive than Memphis.

$1,486/mo ↑ 32%
Median Rent
$1,123/mo ↓ 24%
$75,197/yr ↑ 47%
Median Income
$51,211/yr ↓ 32%
$383,100 ↑ 144%
Home Value
$157,100 ↓ 59%
$1,471/mo ↑ 35%
Owner Costs
$1,087/mo ↓ 26%
684,298
Population
629,063

Tax Comparison

0%
Income Tax
0%
7.0%
State Sales Tax
7.0%
0.64%
Property Tax
0.64%

Affordability

23.7%
rent-to-income
Affordability
26.3%
rent-to-income

Detailed Comparison

When comparing Nashville, TN and Memphis, TN, the overall cost of living indices are 110 and 68 respectively (national median = 100). Rent is $363/month cheaper in Memphis, saving renters about $4,356/year.

Median household income is $23,986/year higher in Nashville. Home values also differ significantly — the median in Nashville is $383,100 compared to $157,100 in Memphis.

Both cities share the same state tax structure since they are in Tennessee.

Frequently Asked Questions

Nashville vs Memphis — common questions

Is Nashville or Memphis cheaper to live in?
Based on our cost index, Memphis is cheaper to live in with an index of 68 compared to 110 (US average = 100).
What is the rent difference between Nashville and Memphis?
Median rent in Nashville is $1,486/month and in Memphis it's $1,123/month — a difference of $363/month.
Which city has higher income, Nashville or Memphis?
Median household income is $75,197 in Nashville and $51,211 in Memphis. Median household income is $23,986/year higher in Nashville.
How do taxes compare between Tennessee and Tennessee?
Both cities are in Tennessee and share the same state tax rates: 0% income tax, 7.0% sales tax, and 0.64% property tax.
Should I move to Nashville or Memphis?
It depends on your priorities. Nashville has a cost index of 110 with median rent of $1,486/mo, while Memphis has a cost index of 68 with rent of $1,123/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Nashville details → View Memphis details →

More Comparisons

Other cost of living comparisons for Nashville and Memphis

Nashville vs. Oklahoma City Nashville vs. El Paso Nashville vs. Denver Nashville vs. Washington Nashville vs. Seattle Nashville vs. Boston Memphis vs. Detroit Memphis vs. Louisville Memphis vs. Portland Memphis vs. Baltimore Memphis vs. Las Vegas Memphis vs. Milwaukee