Cost of Living: Nashville, TN vs Richmond, VA (2026)

Nashville

Tennessee
110
VS

Richmond

Virginia
98

Nashville is 12% more expensive than Richmond.

$1,486/mo ↑ 13%
Median Rent
$1,314/mo ↓ 12%
$75,197/yr ↑ 20%
Median Income
$62,671/yr ↓ 17%
$383,100 ↑ 17%
Home Value
$328,100 ↓ 14%
$1,471/mo ↑ 7%
Owner Costs
$1,374/mo ↓ 7%
684,298
Population
227,595

Tax Comparison

0%
Income Tax
5.75%
7.0%
State Sales Tax
5.3%
0.64%
Property Tax
0.8%

Affordability

23.7%
rent-to-income
Affordability
25.2%
rent-to-income

Detailed Comparison

When comparing Nashville, TN and Richmond, VA, the overall cost of living indices are 110 and 98 respectively (national median = 100). Rent is $172/month cheaper in Richmond, saving renters about $2,064/year.

Median household income is $12,526/year higher in Nashville. Home values also differ significantly — the median in Nashville is $383,100 compared to $328,100 in Richmond.

Tennessee has no state income tax, giving Nashville residents a significant tax advantage over Virginia's 5.75% rate.

Frequently Asked Questions

Nashville vs Richmond — common questions

Is Nashville or Richmond cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 110 (US average = 100).
What is the rent difference between Nashville and Richmond?
Median rent in Nashville is $1,486/month and in Richmond it's $1,314/month — a difference of $172/month.
Which city has higher income, Nashville or Richmond?
Median household income is $75,197 in Nashville and $62,671 in Richmond. Median household income is $12,526/year higher in Nashville.
How do taxes compare between Tennessee and Virginia?
Tennessee has 0% income tax, 7.0% sales tax, and 0.64% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.
Should I move to Nashville or Richmond?
It depends on your priorities. Nashville has a cost index of 110 with median rent of $1,486/mo, while Richmond has a cost index of 98 with rent of $1,314/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Nashville details → View Richmond details →

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