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Memphis city, TN

ZIP 38018 — 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 38018

Median Home Value
$255,300
Median Rent
$1,391
Affordability Snapshot
$70,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,640/mo PITI).

19%
Rent-to-Income Ratio

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

2.8x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

15.3 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 38018 in Memphis city, TN, a household would need roughly $70,000 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 $1,640. That sits below the local median household income ($89,627), 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
62.7%-4% vs US avg
x
Vacancy Rate
5.9%-43% vs US avg
x
Broadband Access
96.3%+11% vs US avg
x
4+ Bedrooms
8.1%-45% vs US avg
x
Built Pre-1939
0.1%-99% vs US avg
x
Built Post-2014
1.3%-82% vs US avg
x
Rent Burden >30%
21.4%-57% vs US avg
x
Mortgage-Free
26.3%-31% vs US avg
x
$255,300
Home Value
$1,391
Rent
1996
Year Built
2016
Moved In

Residents have lived here since ~2016 on average

Housing Structure

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

  • 1-unit detached78.8%
  • 1-unit attached2.6%
  • 2-9 units8.6%
  • 10+ units9.9%
  • Mobile home & other0.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$255,300
Median rent$1,391
Owner-occupied62.7%
Vacant5.9%
Price-to-income2.8x
Est. income to buy$70,000