Median rent is 26% lower in Memphis ($1,181/mo vs $1,586/mo). Buying is cheaper in Memphis, where the median home runs $169,000 versus $413,600. Households earn more in Nashville-Davidson ($77,371 vs $51,736 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 metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
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: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Memphis — median rent of $1,181/mo versus $1,586/mo in Nashville-Davidson, a 26% difference. Home buyers face a steeper market in Nashville-Davidson: the median home is $413,600 versus $169,000 in Memphis — 59% more expensive.
Metric
Memphis
Nashville-Davidson
Software Developer
Registered Nurse
Elementary Teacher
Electrician
Accountant
Higher wage highlighted · BLS OEWS 2023 (metro-level data)
State tax data is not yet available for these cities.
Memphis
Income tax: N/A
Sales tax: N/A
Nashville-Davidson
Income tax: N/A
Sales tax: N/A
Memphis has cleaner air on average: 19.0 AQI (Good) compared to 38.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Nashville-Davidson if you prioritize higher median household income ($77,371/yr).
Pick Memphis if you prioritize cheaper rent ($1,181/mo median).
Pick Memphis if you prioritize cleaner air quality (avg AQI 19.0).
Cost of living index data is not yet available for one or both cities.
Median rent is $1,181/mo in Memphis, TN and $1,586/mo in Nashville-Davidson, TN. Memphis, TN has the lower rent by about 26%.
Median household income is $51,736 in Memphis, TN and $77,371 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.
Memphis, TN has better air quality on average: 19.0 AQI versus 38.0 AQI. Both are EPA AirNow annual averages; lower is better.
State tax data is not yet available for one or both cities.
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
