Zip 38128 (Memphis, TN) Housing

The housing market in 38128 Memphis, TN is thriving, with a median value of $135,100. This is significantly lower than the US median value of $338,100. However, house appreciation has been strong for the past year in 38128 Memphis with an increase of 15.04%, compared to the US average of 8.27%. The affordable prices combined with higher than average appreciation make buying a house in this area an attractive choice for potential homebuyers.

The median home cost in Memphis (zip 38128) is $135,100. Home appreciation the last 10 years has been 97.6%. Home Appreciation in Memphis (zip 38128) is up 15.0%.

Average Age of Homes

- The median age of Memphis (zip 38128) real estate is 40 years old

The Rental Market in Memphis (zip 38128)

- Renters make up 42.5% of the Memphis (zip 38128) population
- 5.1% of houses and apartments in Memphis (zip 38128), 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
	18,373.0	139,647,020.0
	45	42
	$135,100	$338,100
	15.0%	16.6%
	61.1%	57.0%
	97.6%	101.1%
	$14.82	$10.98
	$1,352	$2,690
	34.4%	57.4%
	15.1%	11.2%
	50.5%	31.4%
Vacant Housing
	5.1%	1.9%
	2.6%	0.4%
	0.3%	0.7%
	0.2%	0.4%
	0.2%	3.6%
	6.6%	4.1%
Value of Owner-Occupied Housing
	4.5%	2.6%
	4.7%	2.4%
	10.8%	2.8%
	18.3%	3.9%
	20.6%	4.5%
	21.3%	11.3%
	12.3%	13.0%
	4.8%	20.1%
	1.2%	13.6%
	0.7%	8.3%
	0.6%	9.7%
	0.1%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.1%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	6.2%	13.6%
	6.2%	13.6%
	16.6%	13.6%
	13.7%	13.2%
	30.7%	14.8%
	16.6%	13.6%
	9.1%	10.0%
	2.6%	4.7%
	3.5%	12.2%

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