Quality of Life in Memphis, TN on a $109,500 Annual Salary
Living in Memphis, TN, with an annual salary of $109,500 offers a comfortable lifestyle compared to the national average, considering the cost of living, housing market, quality of life, healthcare, and educational opportunities. Below is a detailed assessment of these factors.
Cost of Living Overview
- Below National Average: Memphis boasts a cost of living that is approximately 15% lower than the national average. This means everyday expenses, including groceries, utilities, and transportation, are more affordable than in many other regions.
- Affordability Rankings: Specific areas like dining out and entertainment are also less costly, allowing for a greater discretionary spending capacity.
Housing Market
- Median Home Price: The median home price in Memphis is significantly lower than the national median. As of 2023, it sits around $200,000 compared to the national median of about $428,000.
- Homeownership Opportunity: With a $109,500 salary, a home buyer has a broad range of housing options, from affordable starter homes to more upscale properties.
- Rental Market: Renting is similarly affordable, with median rent prices well below those in major metropolitan areas.
Quality of Life
- Cultural and Recreational Activities: Memphis is rich in culture and history, with numerous museums, music venues, and festivals celebrating its blues heritage.
- Community Atmosphere: The city is known for its Southern hospitality and strong community ties, providing a welcoming environment for newcomers.
Access to Healthcare
- Healthcare Facilities: Memphis has a range of healthcare options, including renowned institutions like St. Jude Children's Research Hospital and Baptist Memorial Hospital.
- Affordability and Availability: Healthcare services are more accessible and affordable compared to many larger cities, contributing to a better quality of life.
Quality of K-12 Schools
- Public School System: The quality of public schools in Memphis varies widely, with some schools achieving high academic standards and others facing challenges.
- Private and Charter Schools: There are numerous alternatives for parents considering private or charter schools, which often offer smaller class sizes and specialized programs.
- Education Investment: The city is making efforts to improve educational outcomes through investments and reform initiatives.
Assessing the Lifestyle
Living in Memphis, TN, on a $109,500 salary provides a strong balance of affordability
