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Memphis city, TN

ZIP 38112 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 38112

Median Home Value
$206,900
Median Rent
$689
Affordability Snapshot
$57,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,329/mo PITI).

16%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.9x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

25.0 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 38112 in Memphis city, TN, a household would need roughly $57,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,329. That is roughly in line with the local median household income ($52,639). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 12% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
52.8%-19% vs US avg
x
Vacancy Rate
11.7%+14% vs US avg
x
Broadband Access
74.9%-14% vs US avg
x
4+ Bedrooms
2.7%-82% vs US avg
x
Built Pre-1939
17.0%+33% vs US avg
x
Built Post-2014
0.5%-93% vs US avg
x
Rent Burden >30%
41.4%-17% vs US avg
x
Mortgage-Free
48.9%+28% vs US avg
x
$206,900
Home Value
$689
Rent
1950
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached63.3%
  • 1-unit attached8.6%
  • 2-9 units15.3%
  • 10+ units11.6%
  • Mobile home & other1.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$206,900
Median rent$689
Owner-occupied52.8%
Vacant11.7%
Price-to-income3.9x
Est. income to buy$57,000