Zip 38116 (Memphis, TN) Housing

The housing market in 38116 Memphis, TN is thriving compared to the US median value. According to recent data, the median house value in 38116 Memphis, TN is $156,200 while the US median is $338,100. That's more than double what it would cost in a different part of the country. On top of that, house values in 38116 Memphis have appreciated at a rate of 15.04% over the past year as opposed to 8.27% nationally. This makes this area an attractive destination for homebuyers and investors alike looking for a great return on investment.

The median home cost in Memphis (zip 38116) is $156,200. Home appreciation the last 10 years has been 97.6%. Home Appreciation in Memphis (zip 38116) is up 15.0%.

Average Age of Homes

- The median age of Memphis (zip 38116) real estate is 50 years old

The Rental Market in Memphis (zip 38116)

- Renters make up 38.4% of the Memphis (zip 38116) population
- 4.4% of houses and apartments in Memphis (zip 38116), 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
	18,497.0	139,647,020.0
	57	42
	$156,200	$338,100
	15.0%	16.6%
	61.1%	57.0%
	97.6%	101.1%
	$15.54	$10.98
	$1,503	$2,690
	36.4%	57.4%
	18.3%	11.2%
	45.3%	31.4%
Vacant Housing
	4.4%	1.9%
	0.8%	0.4%
	0.0%	0.7%
	0.2%	0.4%
	0.2%	3.6%
	12.8%	4.1%
Value of Owner-Occupied Housing
	4.5%	2.6%
	1.2%	2.4%
	3.8%	2.8%
	16.6%	3.9%
	29.6%	4.5%
	28.1%	11.3%
	11.2%	13.0%
	2.6%	20.1%
	1.0%	13.6%
	0.3%	8.3%
	0.0%	9.7%
	0.0%	3.9%
	1.2%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	1.5%	13.6%
	1.5%	13.6%
	2.9%	13.6%
	5.7%	13.2%
	21.0%	14.8%
	2.9%	13.6%
	31.4%	10.0%
	7.3%	4.7%
	0.7%	12.2%

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