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Cost of Living Comparison 2026

Blues to country? Tennessee's musical cities each offer their own rhythm of life, but their economic beats create different cost compositions for residents.

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You'd spend $1.5K/month more in Nashville, TN

$150.0K in your current city equals $167.8K in Nashville, TN

Rent data from HUD ZIP-level estimates · COL index from Memphis, TN-MS-AR area
Overall Cost
↑ 19.8%
More expensive
Monthly Impact
$1,483
Extra cost
Annual Impact
$17.8K
Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Memphis, TN

Population:633K
Cost Index:100
Median Home:$129K

Nashville, TN

Population:689K
Cost Index:120
Median Home:$489K

Memphis, TN

The Volunteer State

633K
Population
State Tax
No Income Tax

Located in Tennessee, this city has a population of 633K residents.

💡 Advantage: Tennessee has no state income tax!

Nashville, TN

The Volunteer State

689K
Population
State Tax
No Income Tax
Climate
Humid subtropical

Notable Facts

  • •Music City USA
  • •Country music capital
  • •Healthcare industry hub

Major Industries

Music IndustryHealthcareTourismFinance

Cost Breakdown by Category

Annual spending: Memphis, TN vs Nashville, TN

🏠Housing
↑ 43.7%
Memphis, TN
$1,845
Nashville, TN
$2,651
Difference
$806
more
📦Other
↑ 16.0%
Memphis, TN
$1,674
Nashville, TN
$1,942
Difference
$268
more
🏥Healthcare
↑ 15.3%
Memphis, TN
$527
Nashville, TN
$607
Difference
$80.54
more
🚗Transportation
↑ 3.3%
Memphis, TN
$1,243
Nashville, TN
$1,284
Difference
$40.98
more
⚡All Utilities
↓ 2.1%
Memphis, TN
$530
Nashville, TN
$519
Difference
$10.93
less
🛒Groceries
↑ 1.1%
Memphis, TN
$939
Nashville, TN
$949
Difference
$9.99
more

🏠Rent Comparison

Studio
From$1,035
To$1,600
↑ $565
1 Bed
From$1,125
To$1,680
↑ $555
2 Bed
From$1,245
To$1,840
↑ $595
3 Bed
From$1,645
To$2,350
↑ $705
Memphis, TNZIP-level data

1BR range: $940–$1,730/mo

Nashville, TNZIP-level data

1BR range: $1,320–$2,230/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$6,758
Monthly in Memphis, TN
$7,952
Monthly in Nashville, TN
$1,194
Difference

Home Values

Memphis
Nashville
$129K
Median Value
$489K
↓ -2.8%
YoY Change
↓ -2.1%
↑ +25.1%
5-Year Change
↑ +32.1%
$58K - $408K
Price Range
$320K - $1.16M

Homes in Nashville are 279% more expensive than Memphis

Calculate payment - MemphisCalculate payment - Nashville

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings
→ $0
Same taxes
Monthly Difference
$0
Same take-home
Effective Rate Diff
0.0%
Rate difference

Memphis, TN

Federal Income Tax
Effective: 18.9%
$25.5K
Tennessee State Tax
No state income tax
$0
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 24.7%
$37.0K
Take-Home Pay
$9,416/month
$113.0K

Nashville, TN

Federal Income Tax
Effective: 18.9%
$25.5K
Tennessee State Tax
No state income tax
$0
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 24.7%
$37.0K
Take-Home Pay
$9,416/month
$113.0K

Additional Tax Information

Memphis, TN Tax Rates

Sales Tax:9.5%
Property Tax:0.7%

Nashville, TN Tax Rates

Sales Tax:9.5%
Property Tax:0.7%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.

Environment

Memphis
Nashville
55 Moderate
Air Quality
50 Good
34.4%
Good Air Days
51.6%
99 High
Climate Risk
97 High
🌊🌡🫨
Top Hazards
🌊🫨🌪
▲+2.8°F
2050 Outlook
▲+2.8°F
54 days
Heat Days >95°F
42 days
▲+2.8°F
2050 Outlook
▲+2.8°F
54 days
Heat Days >95°F
42 days

Similar cost to Nashville, TN

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