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Memphis city, TN

ZIP 38141 — Housing & Real Estate

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

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 38141

Median Home Value
$146,100
Median Rent
$1,120
Affordability Snapshot
$40,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$939/mo PITI).

21%
Rent-to-Income Ratio

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

2.3x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

10.9 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 38141 in Memphis city, TN, a household would need roughly $40,000 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 $939. That sits below the local median household income ($64,050), 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.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
60.8%-7% vs US avg
x
Vacancy Rate
3.3%-68% vs US avg
x
Broadband Access
95.6%+10% vs US avg
x
4+ Bedrooms
4.3%-71% vs US avg
x
Built Pre-1939
0.1%-99% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
19.6%-61% vs US avg
x
Mortgage-Free
17.5%-54% vs US avg
x
$146,100
Home Value
$1,120
Rent
1985
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

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

  • 1-unit detached84.5%
  • 1-unit attached12.0%
  • 2-9 units2.3%
  • 10+ units0.6%
  • Mobile home & other0.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$146,100
Median rent$1,120
Owner-occupied60.8%
Vacant3.3%
Price-to-income2.3x
Est. income to buy$40,000