Nashville vs Memphis: Cost of Living
24%
Nashville is about 24% more expensive than Memphis overall.
How Nashville Compares to Memphis
Category by category
Renting
▲ 32%
Buying
▲ 109%
Goods
about the same
Services
▲ 38%
Key Facts
| Nashville | Memphis | |
|---|---|---|
| Median Rent | $1,669/mo | $1,263/mo |
| Median Home | $438,800 | $209,800 |
| Median Income | $80,090 | $52,679 |
| State Income Tax | None | None |
| Sales Tax | 9.25% | 9.25% |
Housing: The Biggest Difference
Memphis has the lower median home price by $229,000. Monthly rent is $406/month cheaper in Memphis.
Nashville vs Memphis FAQ
Rent is $406/month cheaper in Memphis. Nashville's median rent is $1,669/month, while Memphis's is $1,263/month. Source: Census ACS 2024.
Memphis has the lower median home price at $209,800, saving $229,000 compared to Nashville. Source: Census ACS 2024.