Housing in 38109 Memphis, TN is significantly more affordable than the US median value of $338,100. The median housing value in this area is only $90,200. Although this is much lower than the national average, homes are still appreciating in value at a rate of 15.04%, faster than the US average of 8.27%. This makes investing in housing in 38109 Memphis an attractive option for potential homebuyers and investors looking to maximize their return on investment.
The median home cost in Memphis (zip 38109) is $90,200. Home appreciation the last 10 years has been 97.6%. Home Appreciation in Memphis (zip 38109) is up 15.0%.
Average Age of Homes
- The median age of Memphis (zip 38109) real estate is 52 years old
The Rental Market in Memphis (zip 38109)
- Renters make up 29.5% of the Memphis (zip 38109) population
- 1.9% of houses and apartments in Memphis (zip 38109), 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.