Quality of Life in Memphis, TN with an $87,000 Salary

Overview

• Annual Salary: $87,000
• Location: Memphis, Tennessee
• Comparison Benchmark: Broader United States average

Cost of Living

• General Cost Index:

  • Memphis typically has a lower cost of living compared to the national average.
  • Residents benefit from reduced expenses in areas like groceries, transportation, and utilities.

• Affordability:

  • Basic expenses such as dining out, and entertainment are generally more affordable.
  • Public transportation and gas prices are usually below the national average.

Housing Market

• Home Prices:

  • As of recent data, the median home price in Memphis is significantly lower than the national median.
  • This makes purchasing a home more attainable on an $87,000 salary.

• Renting vs. Buying:

  • Rental prices are also lower than the national average, allowing for considerable flexibility in housing choices.

• Market Trends:

  • Memphis has seen steady growth in its housing market, with more properties becoming available and increasing demand.

Quality of Life

• Lifestyle and Culture:

  • Memphis is rich in cultural heritage, famous for its music scene, BBQ, and historic sites.
  • Residents enjoy a variety of recreational activities and community events.

• Crime and Safety:

  • Memphis does face challenges with crime rates higher than the national average, impacting some perceptions of safety.

Access to Healthcare

• Healthcare Facilities:

  • The city is home to reputable hospitals and healthcare providers.
  • Access to healthcare is relatively good, with options available for various specialties.

• Health Expenditure:

  • Medical costs are generally aligned with or below average, enabling more manageable healthcare expenses.

Quality of K-12 Schools

• Public School System:

  • Memphis offers a mix of public and private school options.
  • Quality varies significantly, with some schools providing excellent education standards.

• Educational Initiatives:

  • There are ongoing efforts to improve education through initiatives focused on reducing disparities and enhancing learning outcomes.

Summary

Living in Memphis on an annual salary of $87,000 offers the following benefits and considerations:

• The cost of living provides favorable conditions for affordability, with housing significantly more accessible than in many other parts of the U.S.
• The city offers a culturally rich lifestyle, albeit with safety