Quality of Life in Memphis, TN for an Income of $118,425

Living in Memphis, TN, with an annual income of $118,425 offers a competitive quality of life compared to many other parts of the United States. This income level allows individuals and families to enjoy a comfortable lifestyle thanks to the relatively lower cost of living and housing prices in the area.

Cost of Living

• Overall Affordability: The cost of living in Memphis is generally below the national average. This means that residents typically get more value for their money in terms of daily expenses, including groceries, utilities, and transportation.
• Housing Costs: Housing in Memphis is notably less expensive compared to the national average. This makes it easier for individuals and families to afford larger homes with ample amenities.

Housing Market

• Median Home Prices: The median home price in Memphis is significantly lower than the U.S. average. This makes homeownership more accessible for those earning $118,425 annually.
• Variety of Housing Options: The city offers a diverse range of housing styles, from historic homes in charming neighborhoods to modern condos and apartments.

Quality of Life

• Lifestyle and Amenities: Memphis offers a vibrant cultural scene with plenty of music, dining, and entertainment options that cater to a range of interests and budgets.
• Community and Recreation: Residents have access to numerous parks and recreational facilities, enhancing community living and outdoor activities.

Access to Healthcare

• Healthcare Facilities: Memphis hosts a range of healthcare facilities, including several hospitals and clinics, providing residents with access to quality medical care.
• Healthcare Costs: While healthcare costs align closely with national averages, the quality and range of services available support overall well-being.

Quality of K-12 Schools

• Public Education: The quality of public school education in Memphis varies, with several highly-rated schools as well as underperforming institutions. School performance largely depends on the specific district and school.
• Private and Charter Schools: There are numerous private and charter school options available, offering alternative educational environments and specialized programs.

Summary

Living in Memphis, TN, on an income of $118,425 allows for a comfortable lifestyle with advantages in housing affordability and overall cost of living. Residents enjoy access to a rich cultural scene, vibrant community amenities, and a range of healthcare facilities. While public school quality may vary, the presence of private and charter schools provides additional