There are 28 independent living communities in Memphis, Tennessee. The daily costs of independent living in Tennessee range from $24 up to $103, with an average cost running about $64. The monthly expense averages about $1,905 and ranges between $715 and $3,080. Yearly, the average cost is about $22,869, which is under the nationwide average of $23,100.
The cost of independent living in Memphis, TN can range from as little as $550 per month to $3,920 per month. The median cost is approximately $2,041 per month, or about $24,486 annually.
Located in Shelby County, Memphis is a large city in the State of Tennessee. It is the largest city in Tennessee. The surrounding statistical area is home to 817,709 inhabitants, but there are 697,385 living in the city itself. People over the age of 55 comprise about 21% of the total population.
Memphis has a good SeniorScore™ of 70. The median home price in the city is $64,500, which is significantly lower than the state average of $163,500. Memphis has a high unemployment rate of approximately 13.22%. The city's median household income is $41,000 ($22,000 per capita), compared to the average of $39,000 for the entire state of Tennessee.
Memphis has ideal mean temperatures, with very mild winters and warm summers. The area receives very large levels of rainfall annually. In relation to other cities, Memphis has poor air quality and a very high rate of crime.