Quality of Life in Memphis, TN on a $167,400 Salary
Living in Memphis, TN, with an annual income of $167,400 offers a comfortable lifestyle when factoring in the cost of living, housing market, and access to amenities relative to the rest of the United States. Here is an assessment of what life might look like in this context:
Cost of Living
- Lower than National Average: The cost of living in Memphis is generally lower than the U.S. average, allowing individuals to enjoy more purchasing power.
- Affordable Groceries and Utilities: Everyday expenses such as groceries and utilities are priced below national norms, contributing to lower overall living costs.
- Transportation and Entertainment: Costs are moderate, providing ample opportunities for leisure and exploration without breaking the bank.
Housing Market
- Affordable Housing: Memphis has a more affordable housing market compared to many other U.S. cities. This means individuals can purchase more property or larger homes for the same budget.
- Diverse Options: There is a good mix of properties available, from historic homes to modern developments, accommodating a range of preferences and family sizes.
- Appreciation Trends: While not as rapid as in some metropolitan areas, properties in Memphis generally appreciate steadily, offering potential for investment growth.
Quality of Life
- Vibrant Culture: Memphis is known for its rich musical heritage and cultural offerings, including festivals and events that appeal to diverse interests.
- Outdoor Activities: The city offers various parks and recreational areas, supporting an active lifestyle.
- Community Engagement: Local neighborhoods often have tight-knit communities with active participation in local events and initiatives.
Access to Healthcare
- Quality Facilities: Memphis hosts several reputable hospitals and healthcare facilities, providing residents access to quality medical care.
- Cost Efficiency: Healthcare costs in Memphis are relatively lower compared to the national average, alleviating some financial burden on families.
Quality of K-12 Schools
- Variety of Options: Memphis offers a range of K-12 educational institutions, including public, private, and charter schools.
- Mixed Rankings: School quality can vary widely, with some schools receiving higher ratings and others trailing behind.
- Programs and Extracurriculars: Many schools provide robust programs and extracurricular activities, though availability may differ by district.
Summary
Overall, an individual earning $167,400 annually in Memphis,
