Quality of Life in Memphis, TN for an Income of $109,350

Living in Memphis, TN with an annual income of $109,350 can offer a comfortable lifestyle due to the relatively affordable cost of living compared to other parts of the United States. Below is a detailed analysis of various aspects of life in Memphis, including the housing market, quality of life, healthcare access, and quality of K-12 schools.

Cost of Living

• Overall Affordability:
  • Memphis generally boasts a lower cost of living compared to the national average, meaning that everyday expenses such as groceries, utilities, and transportation can be more manageable for residents.
  • A salary of $109,350 significantly exceeds the median household income in Memphis, allowing for increased discretionary spending or savings.

Housing Market

• Home Affordability:
  • The median home price in Memphis is notably lower than the national median, making homeownership more accessible for those earning a six-figure salary.
  • Renting is also relatively affordable, providing flexibility for those not wishing to purchase a home immediately.

Quality of Life

• Community and Culture:
  • Memphis has a rich cultural heritage with a vibrant music scene and numerous historical attractions, contributing positively to the quality of life.
  • The city offers various recreational opportunities including parks, riverside activities, and community events.

Access to Healthcare

• Healthcare Availability:
  • Residents have access to several hospitals and healthcare facilities, though the quality of care can vary.
  • The cost of healthcare services tends to be in line with national averages, and having a higher income aids in affording adequate health insurance and medical expenses.

Quality of K-12 Schools

• Educational Opportunities:
  • Memphis presents a mix of public and private K-12 education options, with areas of the city offering highly-rated schools.
  • While public schools may face challenges, initiatives and improvements are ongoing to enhance the educational landscape.

Assessment

Living in Memphis, TN with an income of $109,350 provides a solid financial footing relative to the cost of living. The housing market is accessible, and the city offers a good quality of life with its wealth of cultural and recreational activities. Access to healthcare is adequate, and educational opportunities range based on specific districts. Overall, the income level allows individuals to enjoy comfort and savings beyond the everyday essentials.