Quality of Life in Memphis, TN

Income Overview

• Annual Income: $148,575
• National Context: Above the national median household income.

Cost of Living in Memphis, TN

• Overall Cost: Generally lower than the national average.
• Groceries and Utilities: Both tend to be more affordable compared to the broader U.S.
• Transportation: Public transport is limited; most households depend on personal vehicles, which is manageable within this income range.

Housing Market

• Median Home Price: Significantly lower than the national average, allowing for greater purchasing power.
• Real Estate: Offers a range of options from trendy downtown condos to spacious suburban homes.
• Affordability: With this income, homeownership is highly achievable, often with room for discretionary spending or investments.

Quality of Life

• Cultural Scene: Rich in music history and cultural events, contributing to a vibrant community atmosphere.
• Recreation: Numerous parks, rivers, and outdoor spaces enhance lifestyle quality.
• Food Scene: Known for its barbecue and diverse dining options.

Access to Healthcare

• Healthcare Facilities: Several highly-rated hospitals and medical centers available.
• Cost and Insurance: Competitive insurance plans available; income allows for comprehensive healthcare coverage.
• Specialized Care: Availability of specialized medical services in various fields.

Quality of K-12 Schools

• Public Schools: Varies widely; schools in certain neighborhoods may lack resources.
• Private and Charter Options: Many private and charter schools offering quality education, with this income making them accessible options.
• Educational Performance: Some districts boast high academic achievements and extracurricular opportunities.

Summary

Living in Memphis, TN, with an annual income of $148,575 provides a favorable quality of life relative to the national context. The cost of living is generally lower, particularly in housing, allowing individuals or families to enjoy a comfortable lifestyle with access to cultural, recreational, and dining opportunities. While public schools vary in quality, there are robust private options available, and healthcare facilities are both accessible and reputable. The income level supports a high standard of living in this vibrant Southern city.