This depends on many factors including what area of the county you are in and what type of subfloor you have (e.g. concrete vs. plywood). It can also depend on type of tile (e.g. natural stone is more expensive than ceramic/porcelain) and what type of hardwood/type of installation (e.g. solid vs. engineered, glue down vs. float vs. nail down) as well as width of wood. This also depends on how level your floor is/what floor prep is needed.
In the NY area/mid Atlantic, it is usually less expensive to install hardwood rather than tile, esp if you have a plywood subfloor. In the South and Southwest, though, it's usually the opposite - labor is often less for tile and the homes are built on concrete slab.
It's best to get estimates from actual contractors in your area and have someone look at the current condition of your floor/subfloor to give you an accurate answer to this question.
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I have done this and I always have the hardwood installed first. Then I install the ceramic tile. To protect the hardwood floor from getting grout or glue on it I cover the hardwood floor with a soft cover (to prevent scratches) and tape it down. Then place a plastic cover over the hardwood. Then I can install the ceramic tile at the edge of the hardwood creating hardly or no seem and level with the hardwood. When its done it looks beautiful.I would install the tile first , that way you don't risk getting glue or grout on your hardwood.
Hardwood floors are generally more expensive than tile floors because they are harder to maintain. However, higher quality tile floors can cost more than hardwood floors.
Hardwood floors. They look much nicer.
You should not tile on top of a hardwood floor. If you do, it will crack as the wood underneath will expand and contract throughout the seasons. Instead you should be installing on top of some sort of concrete floor. You could either add mud/self leveling mix or cement board. You may also want to remove the hardwood first, if you can.
This is not a good idea without using a cement /mortar board underlayment.