Quality of Life in Memphis, TN for an Income of $104,925

Overview

Living in Memphis, TN with an annual income of $104,925 offers a comfortable lifestyle due to the relatively low cost of living compared to other major U.S. cities. This income can significantly stretch further in Memphis, providing an enhanced quality of life.

Cost of Living

• Affordable Living: Memphis ranks as one of the more affordable cities in the United States.
• Lower Expenses: The overall cost of living is approximately 20% lower than the U.S. average, allowing for more discretionary spending.
• Utilities and Essentials: Utilities are moderately priced, while groceries and healthcare costs are below the national average.

Housing Market

• Competitive Real Estate: The median home price in Memphis is significantly lower than the national median, making home ownership more accessible.
• Housing Options: A variety of neighborhoods offer diverse housing options from affordable apartments to luxurious properties.
• Market Dynamics: Although the market is competitive, the lower median price makes it feasible for a person with this income to invest in property.

Quality of Life

• Transportation: Public transportation is available, but many residents prefer driving due to the city layout.
• Cultural Richness: Memphis boasts a vibrant cultural scene with renowned music venues, a rich history, and a wide range of dining options.
• Family-Friendly Atmosphere: Various parks, recreational areas, and community events make it suitable for families.

Access to Healthcare

• Healthcare Facilities: Memphis is home to several reputable medical centers and hospitals.
• Cost and Insurance: Healthcare costs are generally lower than the national average, making quality care more affordable.

Quality of K-12 Schools

• Diverse Educational Options: Memphis offers a mix of public, private, and charter schools with varying performance metrics.
• Focus on Improvement: Many schools show a commitment to improvement through educational programs and community involvement.
• Extracurricular Opportunities: Schools typically offer a broad range of extracurricular activities, enhancing the student experience.

Assessment

Living in Memphis with an income of $104,925 affords a favorable quality of life due to the lower cost of living and attractive housing market. Coupled with decent access to healthcare, an enriching cultural environment, and a variety of educational options, residents can enjoy a balanced lifestyle with ample opportunities for personal and family growth.