Quality of Life in Memphis, TN, on an Income of $170,325

Overview

Living in Memphis, TN, with an income of $170,325 offers a favorable quality of life when compared to the broader United States. This income level provides significant discretionary spending potential, primarily due to Memphis's lower cost of living and affordable housing market.

Cost of Living

• Overall Affordability: Memphis consistently rates below the national average for overall cost of living indices. This makes it easier for individuals or families earning $170,325 to lead a comfortable lifestyle.
• Utilities and Services: Utility costs and general services are competitively priced, contributing further to the city's cost-effectiveness.

Housing Market

• Home Prices: The median home price in Memphis is notably lower than the national average, allowing for more affordable purchasing options or better living space for the cost of a comparable home elsewhere.
• Investment Potential: Buyers may find beneficial investment opportunities due to emerging neighborhoods and ongoing urban development projects.

Quality of Life

• Recreational Activities: Memphis offers a variety of recreational and cultural activities, such as music festivals, arts venues, and renowned dining, enhancing quality of life.
• Community and Diversity: The city's diverse communities contribute to a rich cultural experience and a welcoming environment for newcomers.

Access to Healthcare

• Healthcare Infrastructure: Memphis has several high-quality hospitals and healthcare facilities, ensuring access to comprehensive medical services.
• Healthcare Costs: Costs for healthcare services are generally in line with national averages, though being a major city, options for care are diverse and accessible.

Quality of K-12 Schools

• Range of Schools: Memphis offers a mixture of public, private, and charter schools, providing options for educational attainment.
• Academic Performance: Some areas within Memphis may have higher-performing schools, allowing families the flexibility to choose based on educational goals.

Summary

For someone earning $170,325 per year, Memphis, TN provides a quality of life marked by a lower cost of living and affordable housing relative to many parts of the United States. The access to diverse cultural activities, solid healthcare facilities, and various educational institutions supports both personal and family-oriented lifestyle choices, making it an attractive place to live for individuals and families alike.