Living in Memphis, TN on a $60,225 Annual Salary

Cost of Living

• Overall Affordability: The cost of living in Memphis, TN, is generally lower than the national average, making a salary of $60,225 relatively comfortable.
• Groceries and Utilities: Prices for groceries and utilities in Memphis are typically lower than in many other U.S. cities.
• Transportation: Public transportation options are available, though many residents rely on personal vehicles. Gas prices are on par with the national average, contributing to moderate transportation costs.

Housing Market

• Home Prices: The median home price in Memphis is significantly lower than the national median, providing more opportunities for homeownership.
• Rental Market: Renting is affordable, with average rents below the national level, offering flexibility for those not looking to purchase a home.
• Property Taxes: Property tax rates are moderate, contributing to the overall affordability of living in Memphis.

Quality of Life

• Community and Culture: Memphis is rich in cultural history, featuring music, art, and southern hospitality, enhancing residents' quality of life.
• Job Market: The job market is robust with opportunities in health care, logistics, and education sectors, supporting economic stability for residents.

Access to Healthcare

• Healthcare Facilities: Memphis has a range of healthcare facilities, including major hospitals and specialty clinics.
• Affordability: The cost of healthcare is generally in line with the national average, though access to various healthcare services is readily available.

Quality of K-12 Schools

• Public Education: Public schools in Memphis vary in quality, with some schools performing above national averages while others lag behind.
• Private and Charter Schools: A variety of private and charter schools are available, offering additional educational choices for families.

Assessment Summary

Living in Memphis on a $60,225 salary generally affords a comfortable lifestyle due to the city's lower cost of living and housing prices. The cultural vibrancy and moderate homeownership costs contribute positively to the quality of life. Access to healthcare is satisfactory, and while public schooling options are mixed, alternative educational institutions provide ample choices. Overall, Memphis presents a balanced quality of life relative to the broader United States.