Yes, for the right person — Memphis, TN is a good place to live, offering a unique blend of history, music, and culture. However, like any city, it has its downsides, including high crime rates in some areas and a relatively low walk score. Overall, Memphis can be a great choice for those who value its distinctive character and are willing to look beyond its imperfections.
Before deciding if Memphis is the right fit for you, consider factors such as the cost of living, job market, schools, and safety. These aspects can significantly impact your quality of life, and it's essential to weigh them against the city's many charms.
WYLT's Neighborhood Verdicts
| Neighborhood | Verdict | Median Home Price | Walk Score | School Rating |
|---|---|---|---|---|
| East Memphis (38117) | Good for now | $263,100 | 37/100 | 7/10 |
| Midtown (38104) | Think twice | $288,900 | 41/100 | 7/10 |
| Downtown (38103) | Think twice | $375,000 | 48/100 | 7/10 |
Cost of Living
The cost of living in Memphis is relatively low, with a median home price of $170,000 and average rent for a one-bedroom apartment at $844. However, prices can vary significantly depending on the neighborhood, with areas like Downtown and Midtown tend to be more expensive.
In terms of everyday expenses, Memphis has a lower cost of living index score of 87.3, which is 12.7% lower than the national average. This can be beneficial for those looking to stretch their budget further.
Job Market & Economy
Memphis has a diverse economy, with major industries including healthcare, logistics, and manufacturing. Some of the city's largest employers include FedEx, the University of Tennessee Health Science Center, and St. Jude Children's Research Hospital.
Best Neighborhoods
For those looking for a more suburban feel, East Memphis is a good option, with its relatively low crime rate and decent school rating of 7/10. However, its walk score is only 37/100, making it less suitable for those who prefer a more walkable lifestyle.
In contrast, Downtown Memphis offers a more urban experience, with a higher walk score of 48/100 and a mix of old and new buildings. However, its higher crime rate and expensive housing may deter some potential residents.
Safety
Safety can be a concern in Memphis, with some neighborhoods experiencing higher crime rates than others. For example, Downtown and Midtown have higher crime rates compared to East Memphis, which is considered one of the safer areas.
Schools
Memphis' school system has its challenges, with an average school rating of 7/10 across the three neighborhoods. However, there are some brighter spots, such as the Shelby County Schools district, which offers a range of educational programs and resources.
Things to Do & Lifestyle
Memphis is renowned for its rich musical heritage, from blues to rock 'n' roll, and is home to iconic landmarks like Sun Studio and Beale Street. The city also boasts a thriving food scene, with popular barbecue joints and soul food restaurants.
For outdoor enthusiasts, Memphis has several parks and green spaces, including Overton Park and the Mississippi River waterfront. The city's climate is generally mild, with hot summers and mild winters, making it suitable for a range of outdoor activities.
Who Should Move Here (and Who Shouldn't)
- Music lovers and fans of Southern culture
- Those looking for an affordable cost of living
- Individuals who value a unique, eclectic atmosphere
- People who prioritize a low crime rate and high walkability may want to consider other cities
- Those who are sensitive to hot summers may find the climate challenging
The Verdict
Memphis, TN, is a good place to live for the right person, offering a distinct blend of history, music, and culture. While it has its downsides, including high crime rates and a relatively low walk score, the city's unique character and low cost of living make it an attractive option for many.
Worried about the safety side? Read Is Memphis TN Safe to Live In? The Honest Answer for the full neighborhood-by-neighborhood breakdown.
Get the full data-driven report on any neighborhood at WYLT's neighborhood finder.
