Quality of Life in Memphis, TN on a $224,925 Salary

Cost of Living

• Overall Cost:
  • Memphis has a lower cost of living compared to the national average, making it more affordable for individuals and families.
• Specifics:
  • Groceries: Generally cheaper than in major metropolitan areas.
  • Utilities: Slightly below the national average, providing savings on monthly bills.
  • Transportation: Public transportation is available, but many residents use personal vehicles; fuel costs are typically lower than in larger cities.

Housing Market

• Home Prices:
  • The median home price in Memphis is significantly lower than the national median, offering more square footage and better amenities for the price.
• Real Estate Market:
  • The market is competitive, with a growing trend in demand due to the affordable living conditions.
  • A $224,925 salary provides strong buying power, allowing for options in desirable neighborhoods.

Quality of Life

• Amenities:
  • Access to cultural attractions such as the National Civil Rights Museum and vibrant music scenes.
  • Plenty of parks and outdoor spaces for recreation.
• Community:
  • The city offers a rich cultural diversity and a mix of urban and suburban living experiences.

Access to Healthcare

• Facilities:
  • Home to several high-quality hospitals and healthcare systems, including St. Jude's Children’s Research Hospital.
• Affordability:
  • Health care costs are moderate in comparison to the national level, ensuring that quality services are accessible.

Quality of K-12 Schools

• Public Schools:
  • School quality varies by district, with some schools ranking highly in academic achievement while others face challenges.
• Private Schools:
  • A variety of private school options are available, potentially offering higher academic standards and extracurricular opportunities.

Summary of the Assessment

Living in Memphis on a salary of $224,925 provides a comfortable lifestyle, characterized by affordable housing, a low cost of living, and access to quality healthcare. While public education may vary in quality, there are sufficient options to ensure good schooling. The city's vibrant cultural scene and community-oriented atmosphere further enhance the overall quality of life.