Quality of Life in Memphis, TN on a $134,850 Annual Salary

An annual salary of $134,850 provides a comfortable lifestyle in Memphis, TN, especially when considering the city's cost of living and housing market in comparison to national averages. Below is an assessment of various aspects of living in Memphis, including cost of living, the housing market, quality of life, access to healthcare, and the quality of K-12 schools.

Cost of Living

• Lower than National Average: Memphis boasts a cost of living that is generally lower than the U.S. average. This includes affordable groceries, transportation, and utility costs.
• Affordable Lifestyle Options: Residents benefit from cost-effective services and goods, making it feasible to maintain a higher standard of living on a substantial salary like $134,850.

Housing Market

• Moderate Home Prices: The median home price in Memphis is below the national average, making home ownership achievable. In 2023, median home values hover around $225,000.
• Accessible Mortgage Options: Given the salary, prospective homeowners can secure favorable mortgage rates and comfortably afford homes in desirable neighborhoods.

Quality of Life

• Diverse Cultural Scene: Memphis is rich in history and culture, offering numerous music and art venues, with Beale Street being a highlight.
• Recreational Activities: The city provides abundant parks and outdoor activities, enhancing lifestyle options for families and individuals.

Access to Healthcare

• Strong Healthcare Infrastructure: Memphis is home to several reputable hospitals and healthcare centers, providing quality care.
• Healthcare Affordability: Costs are generally more affordable compared to larger U.S. metropolises, contributing positively to residents' overall financial planning.

Quality of K-12 Schools

• Mixed Educational Performance: Memphis offers a range of public and private schooling options. However, the performance of K-12 public schools can vary, with some schools excelling while others encounter challenges.
• Charter and Magnet Schools: An abundance of charter and magnet schools operate in the area, providing alternatives for quality education.

Overall, a salary of $134,850 allows for a comfortable and enriched lifestyle in Memphis, TN. The favorable cost of living and housing prices contribute significantly to a high quality of life. Access to healthcare is robust, and while the quality of public schooling is mixed, the availability of alternative educational institutions enhances the prospects for families.