Delores, there are good homes available in the Rhodes College area, ranging from $100K up to $1 million. While MATA leaves something to be desired as an effective transportation system, the neighborhoods you would be interested in are close to North Parkway, which is a major east-west bus route, so at least you would have good transportation to Downtown. Also there are bike lanes along most of N. Parkway if you bike.
The general neighborhood of Midtown is very progressive and neighbors advocate quality of life issues. Please feel free to contact me about your housing needs and with any questions you have about the Rhodes area, Midtown or Memphis in general.