Zip 38122 (Memphis, TN) Housing

The housing market in 38122 Memphis, TN is flourishing. The median value of homes in the area is $117,500, which is significantly lower than the US median value of $338,100. In addition to the relatively low cost of housing compared to other parts of the country, this area has also seen significant appreciation over the last year with an increase of 15.04%, compared to 8.27% nationally. This makes Memphis a great place for those looking to purchase or invest in real estate.

The median home cost in Memphis (zip 38122) is $117,500. Home appreciation the last 10 years has been 97.6%. Home Appreciation in Memphis (zip 38122) is up 15.0%.

Average Age of Homes

- The median age of Memphis (zip 38122) real estate is 63 years old

The Rental Market in Memphis (zip 38122)

- Renters make up 39.8% of the Memphis (zip 38122) population
- 2.5% of houses and apartments in Memphis (zip 38122), 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
	9,931.0	139,647,020.0
	66	42
	$117,500	$338,100
	15.0%	16.6%
	61.1%	57.0%
	97.6%	101.1%
	$14.84	$10.98
	$1,190	$2,690
	43.9%	57.4%
	14.3%	11.2%
	41.8%	31.4%
Vacant Housing
	2.5%	1.9%
	0.8%	0.4%
	0.4%	0.7%
	0.8%	0.4%
	0.2%	3.6%
	9.6%	4.1%
Value of Owner-Occupied Housing
	2.7%	2.6%
	8.0%	2.4%
	14.7%	2.8%
	24.4%	3.9%
	15.7%	4.5%
	12.3%	11.3%
	9.0%	13.0%
	8.0%	20.1%
	3.8%	13.6%
	0.3%	8.3%
	0.5%	9.7%
	0.1%	3.9%
	0.6%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.1%	0.2%
	0.9%	13.6%
	0.9%	13.6%
	2.7%	13.6%
	1.7%	13.2%
	8.8%	14.8%
	2.7%	13.6%
	40.5%	10.0%
	23.4%	4.7%
	7.0%	12.2%

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