Assessing the Quality of Life in Memphis, TN, on a $92,475 Annual Salary

Cost of Living

• Overall Cost: Memphis is known for having a relatively low cost of living compared to national averages. The city's cost of living index is generally below the U.S. average, making it an attractive place for individuals earning $92,475 annually.
• Utilities and Essentials: Utilities, groceries, and transportation costs are also below the national average, allowing residents to save more of their income or spend it on discretionary activities.

Housing Market

• Affordability: With median home prices in Memphis significantly lower than the national median, a $92,475 income provides a comfortable buffer for purchasing a home or affording rent.
• Options: The city offers a range of housing options, from downtown condos to suburban single-family homes, catering to a variety of lifestyle preferences.

Quality of Life

• Recreation and Culture: Memphis offers a rich cultural scene, including music festivals, historical landmarks, and a vibrant food scene. This contributes positively to residents' quality of life.
• Work-Life Balance: Given the relatively short commute times and less congested traffic compared to larger metropolitan areas, residents tend to enjoy a good work-life balance.

Access to Healthcare

• Healthcare Facilities: Memphis hosts multiple healthcare facilities, including renowned hospitals like St. Jude Children’s Research Hospital and Methodist University Hospital, providing access to quality healthcare services.
• Healthcare Costs: While healthcare costs can be high nationwide, Memphis remains fairly competitive with respect to insurance and out-of-pocket medical expenses.

Quality of K-12 Schools

• Public Education: The quality of public education in Memphis varies, with some schools performing well and others struggling. Shelby County Schools has been working on various initiatives to improve education outcomes.
• Private and Charter Options: There are numerous private and charter schools offering alternative education options for families seeking different opportunities for their children.

Summary

Living in Memphis, TN, on an annual salary of $92,475 offers a good quality of life characterized by a low cost of living, affordable housing, and access to healthcare. While the public education system shows fluctuating performance levels, alternative schooling options are available. Coupled with a vibrant cultural life and decent work-life balance, Memphis stands out as an economically viable and enjoyable place to live for individuals and families alike.