Wave propagation in Rayleigh nanobeams resting on nonlocal media is investigated in this paper. Small-scale structure-foundation problems are formulated according to a novel consistent nonlocal approach extending the special elastostatic analysis in Barretta et al. (2022). Nonlocal effects of the nanostructure are modelled according to a stress-driven integral law. External elasticity of the nano-foundation is instead described by a displacement-driven spatial convolution. The developed methodology leads to well-posed continuum problems, thus circumventing issues and applicative difficulties of the Eringen–Wieghardt nonlocal approach. Wave propagation in Rayleigh nanobeams interacting with nano-foundations is then analysed and dispersive features are analytically detected exploiting the novel consistent strategy. Closed form expressions of size-dependent dispersion relations are established and connection with outcomes available in literature is contributed. A general and well-posed methodology is thus provided to address wave propagation nanomechanical problems. Parametric studies are finally accomplished and discussed to show effects of length scale parameters on wave dispersion characteristics of small-scale systems of current interest in Nano-Engineering.