Quality of Life in Memphis, TN for an Annual Income of $163,425
Overview
Earning $163,425 per year in Memphis, Tennessee, generally means enjoying a comfortable lifestyle. The city's relatively low cost of living, compared to the broader United States, allows for a higher standard of living.
Cost of Living
- Comparison to National Average: Memphis has a cost of living index below the national average.
- Affordability: Essential expenses such as groceries, transportation, and utilities are comparatively lower than in many U.S. cities.
- Discretionary Spending: After covering essential costs, individuals have more room in their budget for discretionary activities and savings.
Housing Market
- Average Home Price: As of recent data, the average home price in Memphis is significantly lower than the national average.
- Market Dynamics: The real estate market is affordable yet competitive, with a range of options from urban to suburban environments.
- Investment Potential: Lower initial housing costs provide opportunities for investment in real estate or home upgrades.
Quality of Life
- Community and Culture: Memphis is known for its rich cultural scene, including music, arts, and a vibrant food culture.
- Outdoor and Recreational Activities: Abundant parks and recreational facilities offer diverse activities suitable for families and individuals.
Access to Healthcare
- Healthcare Facilities: Memphis boasts several well-regarded hospitals and clinics.
- Specialized Care: The presence of specialty medical centers provides access to advanced healthcare services.
- Affordability: Health insurance typically covers necessary treatments, and the lower cost of living extends to healthcare services.
Quality of K-12 Schools
- Public Schools: The quality varies, but there are options that cater to various educational needs and priorities.
- Private and Charter Schools: Several reputable private and charter schools offer alternative educational opportunities.
- Community Involvement: Strong community involvement in education initiatives enhances school environments and student support.
Summary
Living on an annual income of $163,425 in Memphis, TN, affords you a quality lifestyle marked by affordable housing, a below-average cost of living, and solid access to healthcare and educational resources. The cultural richness and variety of recreational activities further increase the appeal of making Memphis home.
