Quality of Life in Memphis, TN for an Income of $139,500

With an annual income of $139,500, a resident of Memphis, TN, can experience a relatively comfortable lifestyle. Here's a detailed assessment of how this income aligns with the cost of living, housing market, and other quality of life factors in comparison to the broader United States.

Cost of Living

• Below National Average: The overall cost of living in Memphis is often lower than the national average. This means that essential expenses, such as groceries, transportation, and utilities, tend to be more affordable.

• Taxes: Tennessee has no state income tax, which can significantly enhance disposable income for Memphis residents compared to states with higher tax burdens.

Housing Market

• Affordable Home Prices: The median home price in Memphis is typically lower than the national average. This makes purchasing a home more accessible for individuals earning $139,500 per year, allowing them to afford larger or more modern homes within their budget.

• Diverse Options: From historic homes in older neighborhoods to modern apartments downtown, Memphis offers a range of housing options suitable for different lifestyles and preferences.

Quality of Life

• Lifestyle and Amenities: Memphis provides a rich cultural scene with music venues, museums, and diverse dining options. Additionally, the lower cost of living means more disposable income for leisure and entertainment.

• Community and Environment: Known for its southern hospitality, Memphis offers a strong sense of community. The city also has several parks and access to the Mississippi River for outdoor activities.

Healthcare Access

• Reputable Hospitals: Memphis is home to several well-regarded medical facilities, including St. Jude Children's Research Hospital and Methodist Le Bonheur Healthcare.

• Cost-Effective Care: While healthcare costs are a consideration nationwide, the accessibility and quality of care in Memphis are generally good, with lower costs compared to many metropolitan areas.

Quality of K-12 Schools

• Varied School Quality: The quality of public schools in Memphis can vary, with some schools performing better than others. Parents may need to research specific districts or consider private schooling.

• Private and Charter Options: Memphis has numerous private and charter schools that provide alternative education options, often with higher performance metrics.

Assessment Summary

Overall, an individual making $139,500 in Memphis, TN, can enjoy a high quality of life due to the relatively low cost of living and affordable housing. Access to a vibrant cultural scene, quality