Quality of Life for a Resident in Memphis, TN on a $179,025 Salary

Overview

Living in Memphis, Tennessee, with an income of $179,025 per year offers a substantial quality of life due to various factors, including the cost of living, available amenities, and the overall lifestyle.

Cost of Living

• Affordability: Memphis has a lower cost of living compared to many other cities in the United States. Expenses such as groceries, transportation, and healthcare tend to be more affordable.
• Savings Potential: With a higher-than-average salary, individuals can save a considerable portion of their income, providing financial security and flexibility.

Housing Market

• Home Prices:
  • The median home price in Memphis is significantly lower than the national average, making homeownership more accessible.
  • This allows people earning $179,025 yearly to afford larger or more luxurious homes than would be possible in higher-cost cities.
• Renting vs. Buying:
  • For those not interested in buying, rental prices are also lower, providing cost-effective options for high-quality living.

Quality of Life

• Community and Entertainment:
  • Memphis offers a vibrant music scene, historical sites, and cultural neighborhoods, enriching life beyond the workplace.
  • Dining and shopping options cater to a range of tastes and preferences.
• Recreational Activities:
  • Access to parks and outdoor activities enhances the lifestyle for those who enjoy nature and sports.

Access to Healthcare

• Healthcare Quality:
  • Memphis is home to several reputable hospitals and healthcare facilities.
  • The city provides a range of healthcare services, although access in some areas may vary.
• Cost of Healthcare:
  • Healthcare costs are generally aligned with the national average, but with a high salary, these expenses can be comfortably managed.

Quality of K-12 Schools

• Public Schools:
  • Memphis has a mix of public school performances; some schools are highly rated, while others may fall below the national average.
• Private and Charter Schools:
  • There are numerous private and charter schools available, offering various curricula and educational opportunities, often more favorably reviewed compared to public options.

Summary of Assessment

Living in Memphis, TN, with a $179,025 income provides a comfortable and potentially affluent quality of life. The combination of a lower cost of living, affordable housing options,