A detailed side-by-side comparison of the cost of living, housing prices, income levels, and overall affordability between Nashville, TN and New York, NY.
TN
Population: 658,525
NY
Population: 8,258,035
National average = 100. Higher values indicate a more expensive area.
| Metric | Nashville, TN | New York, NY | Difference |
|---|---|---|---|
| Cost of Living Index | 105 | 150 | -30.0% |
| Median Home Price | $400,000 | $680,000 | -41.2% |
| Property Tax Rate | 0.66% | 0.88% | -25.0% |
| Median Household Income | $64,582 | $74,694 | -13.5% |
| Population | 658,525 | 8,258,035 | -92.0% |
Nashville, TN is 30.0% cheaper to live in than New York, NY, based on the overall cost of living index.
Home Price Difference
$280,000
Nashville, TN is cheaper by 41.2%
Income Difference
$10,112
New York, NY earns more by 13.5%
Price-to-income ratio: median home price divided by median household income. A lower ratio indicates more affordable housing.
Nashville, TN
6.2x
$400,000 / $64,582
New York, NY
9.1x
$680,000 / $74,694
Overall, Nashville, TN is the more affordable city to live in. With a cost of living index of 105 compared to 150, a median home price of $400,000, and a price-to-income ratio of 6.2x, Nashville, TN offers better value for residents looking to stretch their dollar further. However, the median household income in New York, NY ($74,694) is higher, which may offset some of the cost differences.