Quality of Life in Memphis, TN with an Annual Income of $93,675

Cost of Living

• Overall Cost: Memphis has a lower cost of living than the national average, making $93,675 a potentially comfortable income. Essential expenses such as groceries, transportation, and healthcare are generally less expensive.
• Comparison: The cost of living index in Memphis is approximately 20% less than the national average, allowing for more disposable income or savings compared to other major cities.

Housing Market

• Average Home Price: As of 2023, the median home price in Memphis is considerably lower than the national median, hovering around $200,000.
• Affordability: With an income of $93,675, individuals or families can more easily afford a mortgage on a typical home in Memphis compared to the national average, where the median home price exceeds $400,000.

Quality of Life

• Day-to-Day Living: Residents benefit from a laid-back lifestyle with access to a rich cultural scene, including music, arts, and local cuisine.
• Environment: Memphis offers a blend of urban and suburban settings, with ample green spaces and recreational activities, enhancing the overall quality of life.
• Crime Rate: A higher crime rate compared to other U.S. locales can impact the sense of security and community well-being.

Access to Healthcare

• Healthcare Facilities: Memphis is home to several reputable hospitals and healthcare facilities, including St. Jude Children’s Research Hospital and Baptist Memorial Hospital.
• Cost and Quality: While healthcare quality is high, costs remain relatively affordable compared to national levels, making access easier with this income.

Quality of K-12 Schools

• Public Schools: The quality of public education varies, with some highly-rated schools in certain neighborhoods. However, the overall reputation can be mixed, with some areas falling below national standards.
• Private Education: There are several well-regarded private schools available, though they come at an additional cost, which might be more feasible with an income of $93,675.

Summary

Living in Memphis, TN, on an income of $93,675 generally allows for a comfortable lifestyle. The cost of living and housing is significantly more affordable than the national average, which favors homeownership and disposable income for leisure and savings. Residents have decent access to healthcare services and a variety of schooling options, although public schools’ quality can vary. Despite some challenges with crime rates