Memphis vs Nashville: Cost of Living Comparison
Compare cost of living between Memphis, TN and Nashville, TN. Side-by-side breakdown of housing costs, rent, groceries, utilities, transportation, healthcare, state taxes, and salary equivalents.
vs
City A
Memphis
Tennessee
Cost Index92.2
Median Rent$1,181/mo
Median Income$52K
State TaxNone
Below Average
Better value overall
City B
Nashville
Tennessee
Cost Index96.3
Median Rent$1,586/mo
Median Income$77K
State TaxNone
Below Average
Salary Equivalency Calculator
How much would you need in Nashville to match your lifestyle in Memphis?
$80,000
Memphis
$80,000
Cost Index: 92.2
Nashville
$83,609
Cost Index: 96.3
You need +$3,609 more in Nashville to maintain the same lifestyle.
Category-by-Category Breakdown
Index scores where 100 = national average. Green highlights the city with the advantage.
Overall Cost Index+4.5%
Memphis92.2
Nashville96.3
Median Rent+34.3%
Memphis$1K
Nashville$2K
Median Income+49.5%
Memphis$52K
Nashville$77K
Grocery Index~equal
Memphis100.0
Nashville100.0
Utilities Index~equal
Memphis100.0
Nashville100.0
Transportation~equal
Memphis100.0
Nashville100.0
Healthcare~equal
Memphis100.0
Nashville100.0
State Tax Rate~equal
MemphisNone
NashvilleNone
Side-by-Side Chart
Memphis: Pros & Cons
5% lower overall cost of living
Lower rent — $1,181/mo vs $1,586/mo
Nashville: Pros & Cons
Higher median income ($77K)
Lower unemployment (2.9%)
5% higher overall cost of living
Higher rent — $1,586/mo vs $1,181/mo
Memphis vs Nashville – FAQ
Common questions about comparing cost of living between Memphis and Nashville.
Memphis has a cost of living index of 92.2, while Nashville scores 96.3. Nashville is approximately 4.5% more expensive overall. This comparison accounts for housing, groceries, utilities, transportation, healthcare, and taxes.
Median 2-bedroom rent in Memphis is $1,181/month compared to $1,586/month in Nashville — a difference of 34%. Rent is typically the largest monthly expense, so this significantly impacts overall affordability.
Due to cost of living differences, you would need approximately 105% of your Memphis salary to maintain the same standard of living in Nashville. For example, a $75,000 salary in Memphis would need to be about $78,384 in Nashville. Use the salary slider above to calculate your specific equivalent.
The cost of living index is calculated using data from the Bureau of Economic Analysis (Regional Price Parities), US Census Bureau (median incomes and home values), HUD (Fair Market Rents), and Bureau of Labor Statistics (consumer price data). A score of 100 represents the national average. Scores above 100 indicate higher-than-average costs, while scores below 100 are more affordable.
Memphis has a median household income of $51,736 with an unemployment rate of 4%. Nashville has a median household income of $77,371 with an unemployment rate of 2.9%. While income is higher in Nashville, remember to factor in cost of living when comparing real purchasing power.
Beyond cost of living, consider: (1) state income tax differences — some states have no income tax; (2) housing market trends and whether to rent or buy; (3) job market strength in your industry; (4) healthcare costs and access; (5) climate and lifestyle preferences; (6) commute times and transportation options; and (7) proximity to family. Our comparison tool covers the financial factors, but quality of life matters too.