Quality of Life for a $155,400 Income in Memphis, TN
Living in Memphis, TN, on an income of $155,400 per year affords a comfortable lifestyle, characterized by a moderate cost of living and competitive housing prices when compared to the broader United States. Below is an overview of key aspects related to the cost of living, housing market, quality of life, healthcare access, and K-12 education quality.
Cost of Living
- Overall Affordability: Memphis is known for its relatively low cost of living compared to national averages, making it an attractive place for earning $155,400.
- Utilities and Groceries: Basic utilities and grocery prices tend to be lower than the national average, allowing for discretionary income.
- Transportation Costs: Public transportation is affordable, but having a private vehicle is common and considered essential by many residents.
Housing Market
- Home Prices: The median home price in Memphis is significantly lower than the national average, allowing individuals with a higher income an opportunity to purchase more spacious homes or live in more desirable neighborhoods.
- Market Trends: Although the housing market is competitive, it remains accessible to high earners, with options ranging from urban condos to suburban houses.
Quality of Life
- Cultural Scene: Memphis offers a rich cultural landscape with music, museums, and dining options that help maintain a vibrant community life.
- Outdoor Activities: There are plenty of parks and recreational areas that provide opportunities for outdoor activities without needing to travel far from home.
Access to Healthcare
- Healthcare Facilities: Memphis has several quality healthcare institutions, including St. Jude Children's Research Hospital and Methodist Le Bonheur Healthcare, ensuring access to comprehensive medical care.
- Insurance and Affordability: With a high income, obtaining satisfactory health insurance would be feasible, ensuring access to a broad range of healthcare services.
Quality of K-12 Schools
- Public Schools: The quality of public education in Memphis varies, with some schools offering excellent programs due to engaged communities and active parental involvement.
- Private Education Options: There are numerous private and charter schools available for those willing to make additional investments in education.
Summary of Assessment
Living in Memphis with an income of $155,400 provides a comfortable and quality life compared to other regions in the United States. The cost of living remains relatively low, allowing individuals to enjoy larger and nicer accommodations. Access to
