There are 19 retirement homes serving Memphis, Tennessee. This includes 11 in Memphis and 8 nearby. The costs per day for retirement home care in Tennessee range from $24 up to $103, with an average cost running approximately $64. The monthly cost averages around $1,905 and ranges between $715 and $3,080. Yearly, the mean cost is about $22,869, which is below the national average of $23,100.
Costs for retirement home living in Memphis, TN can range between $550 per month and $3,920 per month. The median cost is about $2,041 per month, or about $24,486 per year.
Located in Shelby County, Memphis is a large city in Tennessee. It is the largest city in the state, with 697,385 people within the city limits and 817,709 in the surrounding metro area. Residents 55 and over represent approximately 21% of the total community.
Memphis has a good SeniorScore™ of 70. The city has a mean per capita income of $22,000 and a mean household income is $41,000 (the Tennessee state average is $39,000). The average home price in Memphis is $64,500, which is much lower than the state average of $163,500. The city also has a high unemployment rate of around 13.22%.
Memphis has ideal mean temperatures, with very mild winters and temperate summers. The area receives very large amounts of precipitation each year. Compared to other cities, Memphis has a very high rate of crime and poor air quality ratings.