Quality of Life in Nashville, TN on a $63,750 Salary
Overview
Nashville, Tennessee, known for its vibrant music scene and rich cultural heritage, has become an attractive place for both individuals and families seeking a balance of urban and suburban lifestyles. Here's an assessment of what life might look like for someone earning $63,750 per year in Nashville compared to the broader United States.
Cost of Living
- General Living Expenses: Nashville's cost of living is slightly higher than the national average. Essentials such as groceries, utilities, and transportation tend to have moderate pricing.
- Income Sufficiency: A salary of $63,750 is generally considered middle-class in Nashville. It allows for comfortable living but might require budgeting for non-essential expenses.
Housing Market
- Home Prices: The Nashville housing market is competitive, with home prices above the national average due to high demand. As of recent data, the median home price is around $400,000.
- Renting vs. Buying: Renting could be a more feasible option on this salary, with average apartment rents in the range of $1,200 to $1,800 per month, depending on the location and size.
Quality of Life
- Entertainment and Culture: Nashville offers a rich palette of entertainment options, including live music, dining, and sports, contributing positively to the quality of life.
- Outdoor Activities: The city provides various parks, trails, and green spaces ideal for outdoor enthusiasts.
Access to Healthcare
- Healthcare Availability: Nashville hosts several renowned healthcare facilities, boasting good access for residents.
- Insurance and Costs: Health insurance costs need consideration, as healthcare expenses in Nashville can be on the higher side without adequate coverage.
Quality of K-12 Schools
- Educational Options: The city offers a mix of public and private schools. Public schools vary in performance, so location can be a significant factor.
- School Ratings: Some suburbs around Nashville have highly rated K-12 schools, which might appeal to families.
Summary
Living in Nashville on a $63,750 salary offers a balance of lifestyle perks and financial challenges. While the city's cultural and recreational opportunities enhance the quality of life, considerations around housing affordability and education quality are crucial. This income can support a comfortable lifestyle with strategic financial planning, particularly concerning housing and healthcare.
