Quality of Life in Memphis, TN on a $140,100 Income

Summary of Cost of Living

• Overall Affordability: Compared to the national average, Memphis boasts a lower cost of living, making a $140,100 salary more lucrative.
• Category Breakdown:
  • Groceries: Slightly below national average, allowing more room for savings or spending on higher quality food.
  • Utilities: Also generally lower, providing more disposable income.
  • Transportation: Costs align closely with national averages.

Housing Market

• Median Home Price: As of 2023, the median home price in Memphis is lower than the U.S. average, offering more buying power for residents.
• Home Purchasing: With a substantial income like $140,100, individuals have greater flexibility in choosing desirable neighborhoods.
• Property Taxes: These tend to be moderate, contributing to the overall affordability.

Quality of Life

• Community and Culture: Memphis is rich in cultural history and music, particularly known for blues, BBQ, and a vibrant arts scene.
• Outdoor Activities: Access to parks such as Shelby Farms Park and the Mississippi Riverfront provide ample recreational opportunities.

Access to Healthcare

• Healthcare Facilities: Memphis has numerous reputable hospitals and healthcare providers, including renowned institutions like St. Jude Children's Research Hospital.
• Cost of Care: Healthcare expenses are competitive with other similarly sized U.S. cities, and the salary allows for good coverage options.

Quality of K-12 Schools

• Public Schools: The school districts vary in performance, with some schools highly rated and others needing improvement.
• Private Education Options: There are several well-regarded private schools, providing alternatives for families prioritizing education.

Assessment: Living in Memphis, TN, on a $140,100 annual income offers a comfortably high quality of life. The lower cost of living, affordable housing, and the rich cultural environment provide a balanced lifestyle. While some schools may require careful selection, the city’s overall appeal includes strong access to healthcare and a vibrant community atmosphere.