Quality of Life in Memphis, TN for an Income of $116,775

Overview

An annual income of $116,775 in Memphis, TN, provides a comfortable quality of life. This income allows residents to enjoy various amenities and manage living expenses efficiently, especially given how Memphis compares financially to other parts of the United States.

Cost of Living

• Overall Affordability: Memphis is known for its relatively low cost of living compared to the national average. Essential expenses such as groceries, utilities, and transportation are more affordable.
• Utilities and Transportation: These costs are often below the national average, helping residents maintain a balanced budget.
• Entertainment and Dining: The city offers a range of affordable dining and entertainment options, suitable for various income levels.

Housing Market

• Home Prices: The housing market in Memphis is notably affordable. With home prices significantly lower than the national average, purchasing a home on an income of $116,775 is feasible.
• Property Taxes: Relatively low property taxes compared to many other regions in the United States add to the affordability of homeownership in Memphis.

Quality of Life

• Community and Culture: Memphis is rich in cultural heritage, offering a vibrant music scene and numerous cultural festivals.
• Job Market: The city has a diverse economy with growing industries, providing job opportunities and career growth potential.
• Leisure and Recreation: Residents have access to numerous parks, outdoor spaces, and recreational activities.

Access to Healthcare

• Healthcare Facilities: Memphis houses several top healthcare facilities, including hospitals and specialized medical centers, ensuring quality care.
• Healthcare Costs: While healthcare expenses can vary, Memphis generally provides access to healthcare services at reasonable costs.

Quality of K-12 Schools

• Public Schools: The area offers a wide range of public schools. Though quality can vary, certain districts are known for strong academic programs.
• Private School Options: Numerous private schools provide alternative educational opportunities, often at a competitive tuition rate.

Summary

Earning $116,775 in Memphis, TN, allows for a comfortable lifestyle. The lower cost of living, affordable housing market, and ample access to healthcare and cultural amenities enhance the quality of life. Residents enjoy a balance between cost-effective living and the benefits of city life, making it an attractive place for families and individuals alike.