Quality of Life in Memphis, TN for a $115,650 Annual Salary

Understanding the quality of life for someone earning $115,650 in Memphis, TN, requires a comprehensive look at various factors such as the cost of living, housing market, quality of life, access to healthcare, and education. Here's a breakdown of how this income level stacks up in the Memphis area compared to the broader United States.

Cost of Living

• Overall Cost:

  • Generally lower than the national average. Memphis is known for its affordable living expenses, which means your dollar stretches further.

• Groceries and Utilities:

  • Grocery prices are slightly below the national average, making daily expenses affordable.
  • Utility costs are relatively consistent with national standards, without significant fluctuations.

• Transportation:

  • Public transportation is available but limited, encouraging reliance on private vehicles.
  • Gasoline prices are competitive, further facilitating affordable personal transportation.

Housing Market

• Home Prices:

  • The housing market in Memphis is notably more affordable compared to national figures.
  • Average home prices are significantly lower, allowing for spacious living on a budget.

• Rental Market:

  • Rental prices also remain reasonable, offering flexibility for those not looking to purchase property immediately.
  • Quality rental units at various pricing tiers are available throughout the city.

Quality of Life

• Lifestyle:

  • Vibrant cultural scene with numerous music festivals and local events.
  • Access to a variety of dining options, from local barbecue joints to upscale restaurants.

• Safety:

  • Some areas in the city face higher crime rates; however, many neighborhoods are considered safe and family-friendly.

Access to Healthcare

• Healthcare Quality:

  • Memphis has a diverse range of healthcare facilities, including major hospitals and specialized clinics.
  • Healthcare costs can be comparable to national averages, with prospects for quality services.

• Insurance and Providers:

  • A wide array of medical providers give ample choice for those seeking particular healthcare plans.
  • Being insured provides much-needed financial advantages due to healthcare expenses.

Quality of K-12 Schools

• Public Schools:

  • The quality of public schools varies by district, with some schools performing at or above national standards.
  • There are dedicated and established magnet and charter schools providing specialized education.

• Private Education Options:

  • A variety of private schools offer competitive education