>>1324783At the highest price brackets a tent will be lighter weight, but at any price point under about $500 the hammock setup will be lighter.
Tents provide significantly more room, are warmer in cold weather, and do significantly better in high wind.
Hammocks get fiddly in cooler weather due the need for an underquilt + topquilt + creative tarp rigging, and while a "peapod" setup (cutting a hole in the foot of a mummy bag and threading the hammock through it) works, it's far less comfortable than either the same mummy on a groundpad in a tent, or a dedicated topquilt+underquilt.
Hammocks provide better ventilation in hot and/or humid areas. Tents provide privacy.
Tents will set up literally everywhere, hammocks require 2 solid, sturdy vertical surfaces between 10 and 20 feet apart and basically can't be used in deserts or above the treeline (and if you have really dense tree growth finding a spot can be harder than finding a small clearing for a tent).
Hammocks pack smaller at all price points, making them awesome options for canoe/kayak trips.