Quality of Life in Memphis, TN on an Annual Income of $118,650

Overview of Cost of Living

• Below National Average: Memphis has a cost of living that is generally lower than the national average, making $118,650 a comfortable income.
• Living Expenses: Affordable goods and services, including groceries and transportation, allow for greater discretionary spending.

Housing Market

• Affordable Home Prices: The median home price in Memphis is significantly lower than the national median, making home ownership more accessible.
• Variety: A range of housing options, from historic homes to modern new developments, cater to different lifestyle preferences.

Quality of Life Aspects

• Leisure and Entertainment: Memphis offers a vibrant cultural scene, including music, dining, and historical attractions.
• Community: Strong community ties and a warm, social atmosphere.

Access to Healthcare

• Hospitals and Clinics: Numerous healthcare facilities, including renowned institutions like St. Jude Children's Research Hospital.
• Affordability and Quality: Generally affordable healthcare services with various options for different needs.

Quality of K-12 Schools

• Public and Private Options: A mix of public and private schools, though public school performance can vary widely by area.
• School District Improvement: Areas with stronger school districts may have slightly higher real estate costs but provide quality education.

Summary of the Assessment

Living in Memphis on an annual income of $118,650 offers a high quality of life relative to many parts of the United States. The lower cost of living allows for comfort without financial strain, and while the housing market remains affordable, access to healthcare services is reliable. The cultural opportunities are rich, enhancing the attractiveness of the area. However, the quality of K-12 education may require attention based on residential choices, emphasizing the importance of exploring school district performance when deciding where to live.