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Cost of Living: Nashville, TN vs Memphis, TN

A data-driven comparison of housing, groceries, transportation, taxes, job market and more. See which city gives you more for your money.

13.1% Memphis, TN is cheaper overall
35.2% 35.2% cheaper housing
3.2% 3.2% cheaper groceries
Updated April 2026 · Data: Bureau of Labor Statistics, U.S. Census Bureau National average = 100

At a Glance

🏠 Housing 35.2% cheaper
Nashville
108
Memphis
70
🛒 Groceries 3.2% cheaper
Nashville
95
Memphis
92
🚗 Transportation 3.0% cheaper
Nashville
99
Memphis
96
🏥 Healthcare 3.2% cheaper
Nashville
93
Memphis
90
⚡ Utilities ~Same
Nashville
97
Memphis
98

Detailed Breakdown

Category Nashville, TN Memphis, TN Difference
Overall Cost Index998613.1% less
Housing1087035.2% less
Median 1BR Rent$1,380$95031.2% less
Median Home Price$395,000$165,00058.2% less
Groceries95923.2% less
Transportation99963.0% less
Healthcare93903.2% less
Utilities9798~Same

Tax Comparison

Tax Type Nashville, TN Memphis, TN
State Income TaxNone (0%)None (0%)
State Sales Tax7.00%7.00%
Avg Property Tax Rate0.56%0.56%
Estate / Inheritance TaxNoneNone

What You'd Need to Earn

Nashville, TN
$72,000
Median household income
Memphis, TN
$48,000
Median household income
⚠️ Heads up: Memphis costs more but median income is lower. You may need to earn more to maintain the same standard of living.

Salary Equivalent Calculator

Find out what you'd need to earn in Memphis to maintain your Nashville lifestyle.

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Based on overall cost index: Nashville (99) vs Memphis (86). This is an estimate for comparison purposes.

Job Market Snapshot

Unemployment Rate
Nashville3.3%
Memphis4.8%
Job Growth (YoY)
Nashville3.7%
Memphis1.9%
Top Industries
NashvilleHealthcare, Music, Tech
MemphisLogistics, Healthcare, Manufacturing

Quality of Life

Avg Commute
Nashville26 min
Memphis24 min
Walk Score
Nashville29
Memphis34
Air Quality (AQI)
Nashville40
Memphis44
Avg Temperature
Nashville59°F
Memphis63°F
Population
Nashville689,447
Memphis633,104

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Planning Your Move?

Here are some helpful resources if you're considering relocating.

🏠 Find ApartmentsBrowse rentals in Nashville and Memphis → 🚚 Get Moving QuotesCompare prices from top movers → 📈 Check Home ValuesSee real estate trends in both cities → 💼 Search JobsFind open positions in Memphis →

Compare Other Cities

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Frequently Asked Questions

Is Nashville or Memphis cheaper to live in?+
Memphis is the more affordable option overall. The biggest difference is in housing costs, where the gap is about 35.2%. Day-to-day expenses like groceries and transportation are closer between the two cities.
How much is rent in Nashville vs Memphis?+
A typical one-bedroom apartment costs around $1,380/month in Nashville and $950/month in Memphis — a difference of about $430 per month.
Which city has lower taxes, Nashville or Memphis?+
Tennessee has a state income tax of None (0%) and sales tax of 7.00%. Tennessee has a state income tax of None (0%) and sales tax of 7.00%. Consider all tax types together when evaluating total tax burden, as states with no income tax often compensate with higher sales or property taxes.
Can I afford to move from Nashville to Memphis?+
Median household income in Nashville is $72,000 compared to $48,000 in Memphis. Use the salary calculator above to see what you'd need to earn to maintain your current standard of living.
What about buying a home in Nashville vs Memphis?+
The median home price in Nashville is $395,000 versus $165,000 in Memphis — a difference of $230,000. Property tax rates also differ: Tennessee averages 0.56% while Tennessee averages 0.56%.