Zip 38108 (Memphis, TN) Housing

The median value of housing in 38108 Memphis, TN is $61,000. This is significantly lower than the US average median value of $338,100. However, housing in Memphis has experienced an above-average 1 year appreciation rate of 15.04%, compared to the national average of 8.27%. This suggests that Memphis is a desirable place to live and invest in real estate, and that it may be a good opportunity for buyers to purchase property at an attractive price.

The median home cost in Memphis (zip 38108) is $61,000. Home appreciation the last 10 years has been 97.6%. Home Appreciation in Memphis (zip 38108) is up 15.0%.

Average Age of Homes

- The median age of Memphis (zip 38108) real estate is 62 years old

The Rental Market in Memphis (zip 38108)

- Renters make up 41.1% of the Memphis (zip 38108) population
- 3.4% of houses and apartments in Memphis (zip 38108), 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
	8,232.0	139,647,020.0
	65	42
	$61,000	$338,100
	15.0%	16.6%
	61.1%	57.0%
	97.6%	101.1%
	$13.09	$10.98
	$725	$2,690
	36.0%	57.4%
	19.4%	11.2%
	44.6%	31.4%
Vacant Housing
	3.4%	1.9%
	3.0%	0.4%
	0.2%	0.7%
	0.0%	0.4%
	0.0%	3.6%
	12.9%	4.1%
Value of Owner-Occupied Housing
	9.0%	2.6%
	22.0%	2.4%
	24.8%	2.8%
	27.2%	3.9%
	5.4%	4.5%
	4.4%	11.3%
	0.0%	13.0%
	3.5%	20.1%
	2.4%	13.6%
	0.0%	8.3%
	0.1%	9.7%
	0.3%	3.9%
	0.0%	2.2%
	0.8%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	2.7%	13.6%
	2.7%	13.6%
	4.4%	13.6%
	0.9%	13.2%
	8.9%	14.8%
	4.4%	13.6%
	34.6%	10.0%
	20.6%	4.7%
	9.8%	12.2%

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