Zip 38016 (Memphis, TN) Housing

The housing median value in 38016 Memphis, TN is $308,600, which is slightly lower than the US House Median Value of $338,100. However, the house appreciation rate in 38016 Memphis, TN is 15.27%, which is 7 percentage points higher than the US 1 year House Appreciation of 8.27%. This indicates that housing values in this area are growing quite quickly and could be a great investment for those looking to buy in the area.

The median home cost in Memphis (zip 38016) is $308,600. Home appreciation the last 10 years has been 94.9%. Home Appreciation in Memphis (zip 38016) is up 20.2%.

Average Age of Homes

- The median age of Memphis (zip 38016) real estate is 21 years old

The Rental Market in Memphis (zip 38016)

- Renters make up 40.0% of the Memphis (zip 38016) population
- 2.9% of houses and apartments in Memphis (zip 38016), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Memphis, Tennessee	United States
	20,307.0	139,647,020.0
	25	42
	$308,600	$338,100
	20.2%	16.6%
	63.5%	57.0%
	94.9%	101.1%
	$13.24	$10.98
	$2,521	$2,690
	52.4%	57.4%
	8.7%	11.2%
	38.9%	31.4%
Vacant Housing
	2.9%	1.9%
	0.1%	0.4%
	1.1%	0.7%
	0.3%	0.4%
	0.4%	3.6%
	4.0%	4.1%
Value of Owner-Occupied Housing
	0.6%	2.6%
	0.8%	2.4%
	0.1%	2.8%
	0.9%	3.9%
	2.1%	4.5%
	19.5%	11.3%
	31.8%	13.0%
	32.6%	20.1%
	8.6%	13.6%
	0.9%	8.3%
	1.8%	9.7%
	0.4%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	24.0%	13.6%
	24.0%	13.6%
	32.1%	13.6%
	21.5%	13.2%
	7.1%	14.8%
	32.1%	13.6%
	0.1%	10.0%
	0.4%	4.7%
	0.1%	12.2%

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