Quality of Life in Memphis, TN for an Individual Earning $195,150 Per Year

Cost of Living

• Cost Index: Memphis has a cost of living index that is typically below the national average, making it more affordable than many other U.S. cities.
• Expenses: Key expenditures such as groceries, utilities, and transportation are generally less costly compared to the broader U.S.
• Discretionary Income: With a salary of $195,150, the potential for discretionary spending remains high due to the lower cost of living.

Housing Market

• Median Home Price: The median home price in Memphis is significantly lower than the national average, providing excellent value for homebuyers.
• Housing Affordability: Individuals with a high income like $195,150 have a substantial advantage in accessing premium residential properties or larger homes at comparatively lower prices.
• Real Estate Trends: The Memphis housing market reflects a steady demand, although growth in prices is typically more stable and less volatile than the U.S. average.

Quality of Life

• Job Market: Memphis boasts a diverse economy with sectors like transportation, logistics, and healthcare contributing significantly, offering ample opportunities for employment.
• Cultural Amenities: The city offers rich cultural landscapes including music venues like Graceland, renowned museums, and various festivals and food scenes.
• Outdoor Activities: Memphis provides numerous parks, riverfront activities, and recreational opportunities, enhancing the quality of life.

Access to Healthcare

• Healthcare Facilities: Memphis is home to renowned healthcare institutions, including St. Jude Children's Research Hospital and the Baptist Memorial Hospital.
• Healthcare Costs: The cost of healthcare services tends to be around or slightly below the national average, benefiting insured individuals.

Quality of K-12 Schools

• School Options: Memphis offers a mix of public, private, and charter schools, with varying performance scores and educational programs.
• Top Performing Schools: Certain suburban areas and institutions offer high-quality education, comparable to national standards.
• Education Challenges: Some public schools face challenges with funding and performance, necessitating careful consideration for families.

Summary

An individual in Memphis earning $195,150 per year enjoys a favorable quality of life, with the benefit of a lower-than-average cost of living and accessible real estate market. The cultural richness, supplemented by solid healthcare options and diverse school choices, contributes to making