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Memphis city, TN

ZIP 38105 — Housing & Real Estate

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

Low Income AreaLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 38105

Median Home Value
$75,400
Median Rent
$772
Affordability Snapshot
$21,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$484/mo PITI).

32%
Rent-to-Income Ratio

Above the 30% affordability threshold — housing cost-burdened area.

2.6x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

8.1 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 38105 in Memphis city, TN, a household would need roughly $21,000 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 $484. That sits below the local median household income ($29,316), 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

Vacancy rate 22% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
13.5%-79% vs US avg
x
Vacancy Rate
21.8%+112% vs US avg
x
Broadband Access
77.9%-10% vs US avg
x
4+ Bedrooms
0.5%-97% vs US avg
x
Built Pre-1939
5.7%-55% vs US avg
x
Built Post-2014
6.0%-13% vs US avg
x
Rent Burden >30%
26.5%-47% vs US avg
x
Mortgage-Free
43.1%+13% vs US avg
x
$75,400
Home Value
$772
Rent
1968
Year Built
2018
Moved In

Residents have lived here since ~2018 on average

Housing Structure

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

  • 1-unit detached21.7%
  • 1-unit attached4.2%
  • 2-9 units28.5%
  • 10+ units44.5%
  • Mobile home & other1.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$75,400
Median rent$772
Owner-occupied13.5%
Vacant21.8%
Price-to-income2.6x
Est. income to buy$21,000