Overview of Living in Memphis, TN
With an annual salary of $140,400, a resident of Memphis, TN, can expect a comfortable quality of life, especially when considering the cost of living and home price in comparison to the broader United States.
Cost of Living
- Below National Average: The overall cost of living in Memphis is lower than the national average. This means that individuals can enjoy more purchasing power for everyday expenses.
- Affordability: General expenses such as groceries, healthcare, and transportation tend to be more affordable relative to many other large cities in the United States.
Housing Market
- Moderate Home Prices: The median home price in Memphis is significantly lower than the national median. This makes it feasible for someone earning $140,400 to comfortably consider homeownership.
- Affordable Rent: Renting in Memphis is also considerably more affordable, allowing residents to allocate budget for savings or other investments.
Quality of Life
- Leisure and Recreation: Memphis offers a variety of cultural and recreational activities, including proximity to the Mississippi River, music venues, and museums.
- Community and Environment: A favorable community environment is supported by a blend of Southern charm and urban living, offering a well-rounded lifestyle.
Access to Healthcare
- Availability of Facilities: Memphis provides access to a range of healthcare facilities, including several well-regarded hospitals and specialized medical centers.
- Cost of Services: Healthcare costs in Memphis are notably reasonable, although they can vary based on specific services and providers.
Quality of K-12 Schools
- Diverse Options: Memphis offers a variety of public, private, and charter schools, giving families several educational options.
- Variable Performance: School quality can vary widely. Some schools have received high ratings, although others may not offer the same level of resources or performance.
Summary
Earning $140,400 annually in Memphis allows for a comfortable lifestyle, characterized by a lower cost of living and affordable housing options. With access to diverse educational opportunities and healthcare services, along with a rich culture and recreational offerings, residents can enjoy a satisfying quality of life. While school performance can vary, the overall environment in Memphis supports a balanced and fulfilling lifestyle.
