Quality of Life in Memphis, TN for a Salary of $147,825

Overview of Cost of Living

• Lower than National Average: Memphis has a cost of living index that is lower than many other large metropolitan areas in the United States.
• Affordable Goods and Services: The costs of groceries, transportation, and utilities tend to be more affordable compared to national averages.

Housing Market

• Median Home Price: As of recent reports, the median home price in Memphis is significantly below the national median, making homeownership more accessible.
• Diverse Housing Options: A range of housing options is available, from historic homes in established neighborhoods to modern apartments in urban areas.
• Rising Housing Market: While housing is affordable, home prices have been on the rise due to growing demand, but they remain competitive compared to larger cities.

Quality of Life

• Income vs. Living Costs: With a salary of $147,825, an individual can enjoy a comfortable lifestyle, with ample discretionary income for savings, luxury goods, or travel.
• Dining and Entertainment: Memphis offers a vibrant cultural scene with numerous dining, music, and arts venues, thanks to its rich musical heritage.

Access to Healthcare

• Multiple Healthcare Networks: Memphis hosts a number of quality healthcare facilities and networks, providing extensive healthcare options to residents.
• Affordability and Accessibility: Healthcare costs in Memphis are relatively moderate, and the availability of medical services is generally high.

Quality of K-12 Schools

• Diverse Educational Options: The city offers a mix of public, private, and charter schools, providing various educational pathways.
• Public School Performance: Some public schools in the area face challenges, but there are high-performing schools and specialized programs available.
• Investment in Education: Recent efforts and investments are being made to improve the quality of education across the city.

Summary of Assessment

Living in Memphis with an income of $147,825 provides a high quality of life, characterized by a lower cost of living, affordable housing, and a rich cultural environment. The city's healthcare facilities are comprehensive and accessible, while educational opportunities continue to evolve, offering a balance of options for families and individuals alike. With its unique blend of cultural vibrancy and economic feasibility, Memphis presents an appealing choice for those seeking a comfortable and rewarding lifestyle.