Nashville vs Memphis: Cost of Living Comparison
Compare cost of living between Nashville, TN and Memphis, TN. Side-by-side breakdown of housing costs, rent, groceries, utilities, transportation, healthcare, state taxes, and salary equivalents.
vs
City A
Nashville
Tennessee
Cost Index96.3
Median Rent$1,586/mo
Median Income$77K
State TaxNone
Below Average
City B
Memphis
Tennessee
Cost Index92.2
Median Rent$1,181/mo
Median Income$52K
State TaxNone
Below Average
Better value overall
Salary Equivalency Calculator
How much would you need in Memphis to match your lifestyle in Nashville?
$80,000
Nashville
$80,000
Cost Index: 96.3
Memphis
$76,546
Cost Index: 92.2
You need $3,454 less in Memphis 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-4.3%
Nashville96.3
Memphis92.2
Median Rent-25.5%
Nashville$2K
Memphis$1K
Median Income-33.1%
Nashville$77K
Memphis$52K
Grocery Index~equal
Nashville100.0
Memphis100.0
Utilities Index~equal
Nashville100.0
Memphis100.0
Transportation~equal
Nashville100.0
Memphis100.0
Healthcare~equal
Nashville100.0
Memphis100.0
State Tax Rate~equal
NashvilleNone
MemphisNone
Side-by-Side Chart
Nashville: Pros & Cons
Higher median income ($77K)
Lower unemployment (2.9%)
4% higher overall cost of living
Higher rent — $1,586/mo vs $1,181/mo
Memphis: Pros & Cons
4% lower overall cost of living
Lower rent — $1,181/mo vs $1,586/mo
Nashville vs Memphis – FAQ
Common questions about comparing cost of living between Nashville and Memphis.
Nashville has a cost of living index of 96.3, while Memphis scores 92.2. Nashville is approximately -4.3% more expensive overall. This comparison accounts for housing, groceries, utilities, transportation, healthcare, and taxes.
Median 2-bedroom rent in Nashville is $1,586/month compared to $1,181/month in Memphis — a difference of 26%. Rent is typically the largest monthly expense, so this significantly impacts overall affordability.
Due to cost of living differences, you would need approximately 96% of your Nashville salary to maintain the same standard of living in Memphis. For example, a $75,000 salary in Nashville would need to be about $71,762 in Memphis. 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.
Nashville has a median household income of $77,371 with an unemployment rate of 2.9%. Memphis has a median household income of $51,736 with an unemployment rate of 4%. 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.