Zip 38118 (Memphis, TN) Housing

The median value of housing in 38118 Memphis, TN is $124,500, which is significantly lower than the US house median value of $338,100. In the last year, the appreciation rate for houses in 38118 Memphis was 15.04%, which is higher than the US average of 8.27%. This indicates that there may be good potential for investment in this area as housing values continue to appreciate at a faster rate than the overall US market.

The median home cost in Memphis (zip 38118) is $124,500. Home appreciation the last 10 years has been 97.6%. Home Appreciation in Memphis (zip 38118) is up 15.0%.

Average Age of Homes

- The median age of Memphis (zip 38118) real estate is 45 years old

The Rental Market in Memphis (zip 38118)

- Renters make up 37.7% of the Memphis (zip 38118) population
- 5.7% of houses and apartments in Memphis (zip 38118), 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
	15,864.0	139,647,020.0
	49	42
	$124,500	$338,100
	15.0%	16.6%
	61.1%	57.0%
	97.6%	101.1%
	$12.51	$10.98
	$1,235	$2,690
	34.0%	57.4%
	20.2%	11.2%
	45.9%	31.4%
Vacant Housing
	5.7%	1.9%
	0.2%	0.4%
	0.0%	0.7%
	0.0%	0.4%
	0.4%	3.6%
	13.9%	4.1%
Value of Owner-Occupied Housing
	2.8%	2.6%
	5.0%	2.4%
	12.7%	2.8%
	33.5%	3.9%
	25.2%	4.5%
	11.7%	11.3%
	3.9%	13.0%
	1.4%	20.1%
	1.4%	13.6%
	0.1%	8.3%
	0.7%	9.7%
	1.1%	3.9%
	0.4%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.1%	0.2%
	2.3%	13.6%
	2.3%	13.6%
	4.9%	13.6%
	6.2%	13.2%
	42.8%	14.8%
	4.9%	13.6%
	12.4%	10.0%
	1.5%	4.7%
	1.0%	12.2%

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