Memphis, TN vs Nashville-Davidson metropolitan government (balance), TN

There is a significant gap in the cost of living between these two cities. Memphis is 28.4% cheaper than Nashville-Davidson metropolitan government (balance). With a cost index of 79 vs 110, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Memphis to Nashville-Davidson metropolitan government (balance) should plan for substantially higher expenses across most categories.

On the housing front, median rent in Memphis is $1,123/month compared to $1,486/month in Nashville-Davidson metropolitan government (balance) — a 24% difference. Home values follow the same pattern: Memphis is more affordable at $157,100 median vs $383,100.

Median household income in Memphis is $51,211 compared to $75,197 in Nashville-Davidson metropolitan government (balance) (-31.9%). While Nashville-Davidson metropolitan government (balance) is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Memphis spend roughly 26.3% of their income on rent, more than the 23.7% in Nashville-Davidson metropolitan government (balance).