Housing in 38105 Memphis, TN is very affordable compared to the rest of the United States. The median value for housing in this area is $115,800, which is approximately 66% lower than the national median value of $338,100. Additionally, the 1 year appreciation rate for housing in 38105 Memphis has been significantly higher than the national rate; in 2019 it was 15.04%, compared to 8.27% nationally. This makes 38105 an attractive investment opportunity for those looking to purchase a home in a cost effective location that also offers greater potential for appreciation over time.
The median home cost in Memphis (zip 38105) is $115,800. Home appreciation the last 10 years has been 97.6%. Home Appreciation in Memphis (zip 38105) is up 15.0%.
Average Age of Homes
- The median age of Memphis (zip 38105) real estate is 56 years old
The Rental Market in Memphis (zip 38105)
- Renters make up 68.8% of the Memphis (zip 38105) population
- 7.4% of houses and apartments in Memphis (zip 38105), 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.