Quality of Life Assessment in Memphis, TN for an Annual Income of $117,300

Cost of Living

• Overall Cost: Memphis, TN, has a cost of living that is typically lower than the national average, allowing for more financial flexibility.
• Expenses:
  • Groceries: Generally more affordable than in major metropolitan areas.
  • Utilities: Can be variable, but often below the national median.
  • Transportation: Costs are moderate, with public transit options available for budget-friendly commuting.

Housing Market

• Home Prices: The median home price in Memphis is significantly lower than the national average. This makes it an attractive place for homeowners, with the potential for larger property purchases.
• Rental Prices: Rent is substantially cheaper compared to larger cities, offering a wide range of affordable options.
• Market Trend: Stable property appreciation, making it a sound investment for prospective buyers.

Quality of Life

• Employment Opportunities: A diverse economy with robust offerings in logistics, shipping, healthcare, and education contributes to job stability.
• Cultural Scene: Rich musical heritage, including blues and soul, along with access to museums, theaters, and festivals.
• Recreational Activities: Available outdoor spaces like parks and the Mississippi Riverfront promote a healthy, active lifestyle.

Access to Healthcare

• Healthcare Availability: Memphis is home to well-regarded medical centers and hospitals, providing access to quality healthcare services.
• Affordability: Healthcare costs can be higher than in some other parts of the state, but insurance coverage through employment often helps mitigate expenses.

Quality of K-12 Schools

• Public Schools: Diverse options with variance in quality; some schools are highly rated, while others may lag behind.
• Private Schools: Several well-regarded private institutions provide alternatives to public schooling.
• Education Initiatives: Programs focused on science, technology, engineering, and mathematics (STEM) are expanding, aiming to enhance educational outcomes.

Summary of Assessment

Living in Memphis, TN, on an income of $117,300 offers a comfortable lifestyle with a lower cost of living compared to the broader United States. The housing market is notably favorable, enabling both buying and renting at an economical rate. While access to quality healthcare is strong, the cost can sometimes be higher than expected. The educational system presents diverse options, with opportunities