Quality of Life in Memphis, TN for a $119,400 Income

Cost of Living

• Overall Cost of Living: Memphis has a lower cost of living compared to the national average. This allows individuals earning $119,400 to have more discretionary spending power.
• Groceries and Utilities: These items are generally more affordable than in other major U.S. cities, further stretching the budget.
• Transportation: Gas and public transport costs are relatively low, providing additional savings.

Housing Market

• Home Prices: The median home price in Memphis is significantly lower than the national median, making home ownership more attainable for someone earning $119,400.
• Rental Market: Rent prices are also competitive, offering more affordable living arrangements compared to cities of similar size and opportunity.

Quality of Life

• Disposable Income: With a high salary relative to the cost of living, individuals can enjoy a comfortable lifestyle, access leisure activities, and maintain a robust savings plan.
• Cultural Amenities: Memphis offers a rich array of cultural experiences, including music, arts, and dining, enhancing quality of life.

Access to Healthcare

• Healthcare Costs: Generally align with national averages, though some savings can be found in certain service areas.
• Healthcare Access: Memphis is home to reputable healthcare facilities but faces challenges in equitable access, particularly in underserved areas.

Quality of K-12 Schools

• Public Schools: The quality of public schools varies significantly; some schools have below-average performance metrics.
• Private and Charter Schools: Offer good alternatives for those seeking higher educational standards, though these can impact budget considerations due to tuition costs.

Summary

Earning $119,400 in Memphis, TN, offers a high quality of life thanks to a favorable cost-of-living index and affordable housing market. While healthcare is accessible, disparities remain that could affect healthcare quality in certain areas. Education offers mixed results; while public schools may underperform, private options are available for those who can afford them. Overall, Memphis provides an enriched lifestyle with cultural vibrancy and economic viability.