Quality of Life in Memphis, TN for an Income of $120,675

Cost of Living

• Overall Costs: Memphis is known for its relatively low cost of living compared to other U.S. cities. The cost of living index in Memphis is often below the national average.
• Housing: Housing expenses in Memphis are particularly affordable, which contributes significantly to the lower cost of living.
• Utilities & Groceries: Prices for utilities and groceries are around the national average, ensuring that daily expenses remain manageable.

Housing Market

• Median Home Price: As of the latest data, the median home price in Memphis is significantly lower than the national median, making homeownership more accessible.
• Property Taxes: Property taxes are generally moderate, contributing positively to the appeal of homeownership in the area.
• Rental Market: For those not looking to buy, rental prices are also competitive, offering a variety of options at different price points.

Quality of Life

• Cultural and Recreational Opportunities: Memphis offers a rich cultural scene, including music, food, and museums, enhancing the living experience.
• Climate: The climate is mild, with hot summers and generally mild winters, which can be a draw for many residents.
• Community and Lifestyle: Residents often enjoy a slower pace of life with Southern hospitality and a strong sense of community.

Access to Healthcare

• Healthcare Facilities: Memphis hosts several well-recognized healthcare facilities, including hospitals and specialty clinics.
• Healthcare Costs: Healthcare costs are in line with the national average, ensuring access to necessary services without excessive financial strain.
• Insurance and Coverage: With an income of $120,675, individuals can likely afford comprehensive health insurance, benefiting from a range of healthcare services.

Quality of K-12 Schools

• Public Schools: The quality of public schools in Memphis varies, with some highly rated options alongside areas needing improvement.
• Private and Charter Schools: There is a variety of private and charter schools available, providing alternatives for families seeking different educational experiences.
• Investment in Education: There are ongoing efforts to improve educational facilities and resources in the city, which may enhance the quality of public education over time.

Summary

A person earning $120,675 in Memphis, TN, enjoys a favorable lifestyle due to the city's low cost of living and affordable housing market. The income comfortably supports