4 Reasons Memphis Is an Excellent Place for Retirees
Without question, Memphis is one of the country’s greatest music cities, rich in various genres like rock ‘n’ roll, soul and the blues. Known for its lively nightlife, culturally diverse history, iconic attractions like Graceland and Sun Studio, and of course, Southern hospitality, Memphis has always had an alluring charm for visitors.
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However, it’s now becoming a city full of perks for retirees. For those looking to relocate for retirement, Memphis might be the city. Here are four reasons why.
Affordable Cost of Living
For retirees looking to stretch their finances, Memphis offers affordable living. According to RentCafe, monthly rent averages $1,096, while home prices are around $384,251. In addition, the cost of living is 10% less than the national average.
“From housing to groceries and healthcare, everyday expenses are manageable, allowing residents to maintain a comfortable lifestyle without financial strain,” stated Justin Landis, founder of Justin Landis Group.
Another incentive for retirees in Memphis is tax breaks. “Property taxes in Tennessee are among the lowest in the country, which is a big win for those on a fixed income,” Landis explained.
In addition, there is no income state tax in Tennessee, so Social Security, pensions and retirement savings are not taxed.
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Quality Healthcare
Access to quality healthcare is essential for seniors, and Memphis has top-ranking facilities.
“Baptist Memorial Hospital and Methodist Le Bonheur Healthcare, along with countless others, are just a few options retirees have,” explained David Milo, real estate expert and founder of Independent Lending.
According to Milo, the city also offers other great health services. “Memphis has a lot of programs for seniors and many community centers which give plenty of support to retired individuals. Whether you are looking for medical assistance or other services, Memphis ensures that every retired person understands how to live a happy and duty-bound life.”
Cultural Activities
Local bars and clubs are filled with vibrant live music every night, but there are plenty of other activities for retirees, as well.
“The city of Memphis has a unique cultural mix with its fantastic musical heritage, collections of stunning sights and interesting events for everyone,” said Bubba Peek, real estate expert and owner of Bubba Land Company. “Active and interested retirees are rarely bored, and with the Mississippi Riverfront and other many parks around the city, there’s a lot of recreation available.”
There’s a slew of exciting things for locals to explore in Memphis, including “the iconic Beale Street, where live blues and soul music thrive, to historical landmarks like the National Civil Rights Museum; the city provides a unique blend of entertainment and education,” explained Shirley Mueller, founder at VA Loans Texas.
She added, “For those who enjoy a sense of community, Memphis’s festivals, food scene and local events foster connection and engagement, creating countless opportunities to make lasting memories.”
Great Year-Round Climate
For retirees looking to escape brutal winters and scorching summers, Memphis has enjoyable year-round weather.
According to Mueller, “The moderate climate, with mild winters and long springs, means retirees can enjoy outdoor activities like golfing, walking along the Mississippi River or exploring Shelby Farms Park nearly any time of the year.”
As one of the largest cities in Tennessee, Memphis is ideal for retirees who love big-city living and a plethora of exciting things to keep busy without blowing your budget.
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