It's a different kind of sound. Tire noise is white noise (or at least, similar). My experience working in close proximity to a light rail line was 1) the train shakes the ground as it goes by, and 2) if you're near a corner, the squeaking is pretty loud. We have water sprayers in those areas to try and cut down on the howling, but it's not a panacea.
That's just bad design. There very quiet tram and railway designs available - they just cost a bit more money than the cheap 19th century designs that are still in place.
Where I live in Germany the passenger trains (not even the tracks) got upgraded a few years ago and all those click-clack and screeching sounds are gone. What is left is a wooshing sound of the wind being pushed aside and the not-so-loud grinding sound of the thingy (collector?) that hits the power cable.