Nashville vs Memphis: Cost of Living & Housing Comparison
Nashville-Davidson metropolitan government (balance)'s median home value is $351,400 — 152% higher than Memphis's $139,600.
Nashville-Davidson metropolitan government (balance)'s median household income runs $71,328, against $48,090 in Memphis.
Median rent is $1,392 in Nashville-Davidson metropolitan government (balance), compared with $1,050 in Memphis.
FEMA rates both cities' overall hazard risk as "Relatively High."
| Metric | Nashville-Davidson metropolitan government (balance), TN | Memphis, TN |
|---|---|---|
| Population | 684,103 | 630,027 |
| Median home value | $351,400 | $139,600 |
| Median household income | $71,328 | $48,090 |
| Median gross rent | $1,392 | $1,050 |
| Climate risk (FEMA) | Relatively High | Relatively High |
Memphis, TN comes out ahead on housing affordability versus Nashville-Davidson metropolitan government (balance), TN, with both a lower median home value and lower rent. Housing only — not the full cost-of-living picture.
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Sources: U.S. Census Bureau American Community Survey; FEMA National Risk Index
Data last updated July 2026.