Quality of Life in Memphis, TN for a $72,300 Salary

Economic Overview

• Average Income: $72,300 is above the median income level in Memphis.
• Comparison to National Average: Slightly above the national median income, providing a relatively comfortable lifestyle.

Cost of Living

• Overall Cost: Lower than the national average.
• Groceries and Utilities: Generally more affordable compared to other major U.S. cities.
• Transportation: Costs are relatively low, partly due to less congestion and the availability of public transport options.

Housing Market

• Home Prices:
  • Median home prices in Memphis are significantly lower than the national average, making it easier to afford a home.
  • Renting is also more affordable, appealing to those not looking to purchase.
• Options: A diverse range of housing options from downtown apartments to suburban homes.

Quality of Life

• City Amenities: Access to cultural sites, including museums and music venues, enriches the area's lifestyle.
• Recreational Opportunities: Proximity to parks and the Mississippi River offers ample outdoor activities.
• Community Life: Memphis has a rich cultural heritage and a lively community spirit.

Access to Healthcare

• Healthcare Facilities: Good access to a variety of hospitals and specialized medical centers.
• Insurance: Standard insurance plans are widely accepted, but out-of-pocket expenses can vary.

Quality of K-12 Schools

• Public Schools: Vary in quality; some areas have highly rated schools while others may need improvement.
• Private Schools: Several private options are available, offering a range of educational philosophies and extracurricular activities.

Summary of Assessment

Living in Memphis offers a relatively comfortable lifestyle for someone earning $72,300 annually. The lower cost of living, especially in housing, allows for a greater disposable income compared to many other parts of the United States. While access to quality education can vary, the overall quality of life, with robust healthcare access and abundant cultural and recreational amenities, ensures Memphis is an appealing choice for residents seeking affordability coupled with rich cultural experiences.