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Memphis city, TN

ZIP 38107 — 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 38107

Median Home Value
$128,600
Median Rent
$678
Affordability Snapshot
$35,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$826/mo PITI).

22%
Rent-to-Income Ratio

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

3.5x
Home Price-to-Income Ratio

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

15.8 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 38107 in Memphis city, TN, a household would need roughly $35,000 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 $826. That is roughly in line with the local median household income ($36,393). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 18% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
38.4%-41% vs US avg
x
Vacancy Rate
17.7%+72% vs US avg
x
Broadband Access
76.9%-12% vs US avg
x
4+ Bedrooms
2.0%-86% vs US avg
x
Built Pre-1939
11.0%-14% vs US avg
x
Built Post-2014
1.3%-81% vs US avg
x
Rent Burden >30%
35.0%-30% vs US avg
x
Mortgage-Free
42.1%+10% vs US avg
x
$128,600
Home Value
$678
Rent
1953
Year Built
2017
Moved In

Residents have lived here since ~2017 on average

Housing Structure

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

  • 1-unit detached65.3%
  • 1-unit attached6.2%
  • 2-9 units17.2%
  • 10+ units10.7%
  • Mobile home & other0.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$128,600
Median rent$678
Owner-occupied38.4%
Vacant17.7%
Price-to-income3.5x
Est. income to buy$35,000