Quality of Life in Memphis, TN with an Income of $118,050

Cost of Living in Memphis

• Lower than the National Average: The cost of living in Memphis is typically lower than many other parts of the United States.
• Affordable Groceries and Services: Prices for basic necessities, such as groceries and utilities, are generally more affordable.
• Transportation Costs: Gasoline and transportation expenses are below the national average, contributing to the lower cost of living.

Housing Market in Memphis

• Affordable Housing: The median home price in Memphis is significantly lower compared to the national median, allowing for easier home ownership.
• Diverse Housing Options: From historic homes to modern apartments, Memphis offers a variety of housing styles.
• Growing Market: While home prices are rising due to increased demand, they remain competitive compared to the broader US market.

Quality of Life in Memphis

• Cultural Richness: Memphis is known for its vibrant music scene, delicious cuisine, and rich cultural history.
• Recreational Opportunities: Access to parks, museums, and the Mississippi River provides ample recreational options.
• Community Spirit: A strong sense of community and Southern hospitality enhances the overall living experience.

Access to Healthcare

• Reputable Medical Centers: The city is home to renowned institutions like St. Jude Children's Research Hospital and Methodist Le Bonheur Healthcare.
• Affordable Healthcare Costs: Relative to other major US cities, Memphis offers more economical healthcare services.
• Health Initiatives: Numerous community health initiatives aim to improve overall public health outcomes.

Quality of K-12 Schools

• Varied Education Options: Memphis offers a mix of public, private, and charter schools.
• Investment in Education: Ongoing investments aim to improve educational facilities and outcomes.
• Extracurricular Activities: Schools frequently provide diverse extracurricular programs, including arts and athletics.

Overall Assessment

With an income of $118,050, an individual in Memphis enjoys a comfortable lifestyle given the lower cost of living and housing market compared to national averages. The availability of affordable necessities and housing, coupled with rich cultural and recreational opportunities, significantly enhances the quality of life. Access to reputable healthcare facilities and active educational improvements further boost living standards in Memphis.