Zip 38120 (Memphis, TN) Housing

The housing in 38120 Memphis, TN is experiencing a higher rate of appreciation than average. According to the data, the median home value in this area is $421,600, which is significantly higher than the US median of $338,100. The US 1 year house appreciation was 8.27%, but in this area of Memphis it was 15.04%. This demonstrates that there has been an even more significant investment into homes in this area over the past year and suggests that housing prices will continue to rise.

The median home cost in Memphis (zip 38120) is $421,600. Home appreciation the last 10 years has been 97.6%. Home Appreciation in Memphis (zip 38120) is up 15.0%.

Average Age of Homes

- The median age of Memphis (zip 38120) real estate is 39 years old

The Rental Market in Memphis (zip 38120)

- Renters make up 24.7% of the Memphis (zip 38120) population
- 2.9% of houses and apartments in Memphis (zip 38120), 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
	6,789.0	139,647,020.0
	45	42
	$421,600	$338,100
	15.0%	16.6%
	61.1%	57.0%
	97.6%	101.1%
	$12.51	$10.98
	$6,114	$2,690
	70.4%	57.4%
	8.1%	11.2%
	21.4%	31.4%
Vacant Housing
	2.9%	1.9%
	0.7%	0.4%
	1.6%	0.7%
	0.3%	0.4%
	0.7%	3.6%
	2.0%	4.1%
Value of Owner-Occupied Housing
	0.0%	2.6%
	0.2%	2.4%
	0.4%	2.8%
	0.7%	3.9%
	2.1%	4.5%
	5.9%	11.3%
	5.7%	13.0%
	21.4%	20.1%
	19.3%	13.6%
	13.7%	8.3%
	7.6%	9.7%
	8.3%	3.9%
	8.4%	2.2%
	2.6%	0.8%
	3.8%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	11.5%	13.6%
	11.5%	13.6%
	15.9%	13.6%
	14.9%	13.2%
	17.0%	14.8%
	15.9%	13.6%
	22.5%	10.0%
	0.4%	4.7%
	1.5%	12.2%

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