Quality of Life in Memphis, TN with a Salary of $177,825
Overview
Making $177,825 annually in Memphis, TN, offers a comfortable lifestyle, considering the city's relatively low cost of living compared to the national average. Memphis provides a unique blend of affordability, cultural richness, and access to quality services.
Cost of Living
- Overall Expenses: Memphis has a cost of living that is approximately 14% lower than the national average.
- Utilities and Services: Costs for utilities, groceries, and other services are also generally below the national benchmark.
- Transportation: With an efficient public transportation system and affordable fuel prices, transportation costs are manageable.
Housing Market
- Median Home Price: The median home price in Memphis is significantly lower than the U.S. average, making homeownership more attainable for individuals earning a high salary.
- Renting vs. Buying: Renting is affordable, but with the current salary, purchasing a home is advantageous due to low property prices and increasing home value potential.
- Property Taxes: Relatively low property taxes contribute to long-term affordability.
Quality of Life
- Cultural Scene: Known for its vibrant music and arts scene, Memphis offers a rich cultural lifestyle with museums, theaters, and live music events.
- Recreational Opportunities: Abundant parks and recreational facilities provide plenty of options for outdoor activities and relaxation.
- Dining and Cuisine: The city is famous for its barbecue and diverse culinary options, catering to a variety of tastes.
Access to Healthcare
- Healthcare Facilities: Memphis hosts several reputable healthcare institutions and hospitals, providing high-quality medical care.
- Affordability: Healthcare costs are average compared to national figures, with various health insurance options available to suit different needs.
Quality of K-12 Schools
- Public and Private Options: A mix of public and private schools with varying academic outcomes. Some public schools face challenges, but there are highly rated charter and private schools available.
- Educational Programs: Availability of robust extracurricular activities and specialized programs in STEM and the arts in certain schools enhances educational opportunities.
Summary
With an income of $177,825, residents in Memphis, TN, can enjoy a high quality of life due to the city's low cost of living, affordable housing market, and rich cultural offerings. Access to quality healthcare and diverse educational opportunities, though varying by institution,
