Quality of Life in Memphis, TN, on a $135,975 Annual Salary

When examining the quality of life for someone earning $135,975 annually in Memphis, TN, several factors such as cost of living, housing market, healthcare access, and education quality must be considered. Below is an overview of these aspects as they compare to the broader United States.

Cost of Living

• Overall Affordability: Memphis offers a relatively lower cost of living compared to the national average, allowing an individual with this salary to live comfortably.
• Utilities and Groceries: Expenses on utilities and groceries in Memphis are notably below the national average, providing more discretionary income.
• Transportation: With public transportation being limited, commuting costs might be higher, emphasizing the advantage of having a personal vehicle.

Housing Market

• Home Prices: The housing market in Memphis is more affordable than many metropolitan areas in the United States. The median home price in Memphis is significantly lower than the national median, allowing easier access to homeownership.
• Property Taxes and Insurance: Both property taxes and homeowners' insurance are reasonably priced, contributing to the overall affordable living conditions.

Quality of Life

• Cultural and Recreational Activities: Memphis is rich in cultural history and offers numerous recreational activities, such as music festivals, museums, and parks.
• Crime Rate: The city does have higher crime rates compared to the national average, which might impact the perceived quality of life for some residents.

Access to Healthcare

• Healthcare Facilities: Memphis is home to several reputable healthcare institutions, providing comprehensive services. The availability of quality healthcare contributes positively to residents' well-being.
• Healthcare Costs: Generally, healthcare expenses in Memphis are on par with national averages, making it accessible for those with sufficient insurance coverage.

Quality of K-12 Schools

• Public Education: The quality of public education in Memphis varies, with some schools performing well, while others face challenges. Private and charter schools are also available, offering alternatives for families seeking different educational opportunities.
• Investment in Education: Initiatives are in place to improve the quality of education, including increased funding and community involvement.

Summary

With a salary of $135,975, an individual in Memphis, TN, can enjoy a comfortable quality of life thanks to the city's affordable living conditions, reasonable home prices, and access to good healthcare facilities. However, factors such as