Median rent is 24% lower in Memphis ($1,123/mo vs $1,486/mo). Buying is cheaper in Memphis, where the median home runs $157,100 versus $383,100. Households earn more in Nashville-Davidson ($75,197 vs $51,211 a year).
City A
Memphis, TN
City B
Nashville-Davidson, TN
How much would you need to earn in Nashville-Davidson, TN to maintain your standard of living from Memphis, TN?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Memphis
Tennessee
Nashville-Davidson
Tennessee
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Memphis — median rent of $1,123/mo versus $1,486/mo in Nashville-Davidson, a 24% difference. Home buyers face a steeper market in Nashville-Davidson: the median home is $383,100 versus $157,100 in Memphis — 59% more expensive.
BLS OEWS 2023 — metro-level data
Both Tennessee and Tennessee have no state income tax — a notable advantage for workers in both cities. Sales tax is 7.00% in Tennessee and 7.00% in Tennessee; Nashville-Davidson has the lower rate (local add-ons may apply in both).
Memphis
Income tax: None
Sales tax: 7.00%
Nashville-Davidson
Income tax: None
Sales tax: 7.00%
Memphis has cleaner air on average: 23.0 AQI (Good) compared to 48.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Nashville-Davidson if you prioritize higher median household income ($75,197/yr).
Pick Memphis if you prioritize cheaper rent ($1,123/mo median).
Pick Memphis if you prioritize cleaner air quality (avg AQI 23.0).
Is Memphis cheaper than Nashville-Davidson?
Cost of living index data is not yet available for one or both cities.
How much is rent in Memphis vs Nashville-Davidson?
Median rent is $1,123/mo in Memphis, TN and $1,486/mo in Nashville-Davidson, TN. Memphis, TN has the lower rent by about 24%.
Which has higher salaries — Memphis or Nashville-Davidson?
Median household income is $51,211 in Memphis, TN and $75,197 in Nashville-Davidson, TN. Nashville-Davidson, TN has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Memphis, TN has better air quality on average: 23.0 AQI versus 48.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Memphis or Nashville-Davidson?
Both Tennessee and Tennessee have no state income tax.
What salary do I need in Nashville-Davidson to match my Memphis income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology