ZIP 38122 — Housing & Real Estate

To comfortably buy a median-priced home in ZIP 38122 in Memphis city, TN, a household would need roughly $30,000 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 $695. That sits below the local median household income ($45,456), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.