Quality of Life in Memphis, TN for an Income of $106,725
Living in Memphis, TN, with an annual salary of $106,725 offers a unique quality of life. This amount is above the median household income in the area, providing a comfortable lifestyle relative to the cost of living and home prices when compared to the broader United States.
Cost of Living
- Affordability: Memphis has a lower cost of living than the national average. Expenses such as groceries, transportation, and healthcare are typically more affordable.
- Utilities and Insurance: Utility bills and insurance costs are generally moderate, allowing residents to enjoy a balanced budget.
Housing Market
- Home Prices: The median home price in Memphis is significantly lower than the national average, making homeownership more accessible. A salary of $106,725 places many comfortable housing options within reach.
- Renting: For those opting to rent, Memphis offers a range of rental properties at comparatively lower prices compared to larger cities in the U.S.
Quality of Life
- Cultural Scene: Memphis is rich in culture and history, offering numerous museums, music festivals, and a vibrant arts scene.
- Outdoor Activities: Ample parks, the Mississippi River, and nearby recreational areas provide plenty of options for outdoor enthusiasts.
- Community: Known for its southern hospitality, Memphis offers a strong sense of community and a welcoming environment.
Access to Healthcare
- Healthcare Facilities: Memphis features several reputable hospitals and healthcare facilities, providing residents with quality medical care.
- Affordability: Healthcare costs in Memphis are often more manageable compared to other urban areas.
Quality of K-12 Schools
- Public Education: The quality of public schools can vary greatly within the city. Some areas may have schools that require improvement, while others host highly-rated institutions.
- Private Schools: Numerous private school options are available, offering diverse educational opportunities.
Summary of the Assessment
In summary, with an income of $106,725, a resident of Memphis, TN, can experience a comfortable quality of life. The cost of living is favorable, especially when it comes to housing. While public school quality may vary, healthcare access is solid, and the city offers a rich cultural life with strong community ties. Overall, Memphis provides a welcoming environment with financial advantages compared to many other regions in the United States.
