US5.com
  1. Home
  2. States
  3. Tennessee
  4. ZIP 38127
  5. Housing & Real Estate
Memphis city, TN

ZIP 38127 — 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 38127

Median Home Value
$82,500
Median Rent
$775
Affordability Snapshot
$23,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$530/mo PITI).

25%
Rent-to-Income Ratio

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

2.2x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

8.9 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 38127 in Memphis city, TN, a household would need roughly $23,000 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 $530. That sits below the local median household income ($37,768), 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 19% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
45.6%-30% vs US avg
x
Vacancy Rate
19.2%+87% vs US avg
x
Broadband Access
80.0%-8% vs US avg
x
4+ Bedrooms
1.4%-91% vs US avg
x
Built Pre-1939
5.9%-54% vs US avg
x
Built Post-2014
0.6%-91% vs US avg
x
Rent Burden >30%
33.9%-32% vs US avg
x
Mortgage-Free
45.2%+18% vs US avg
x
$82,500
Home Value
$775
Rent
1966
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

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

  • 1-unit detached76.4%
  • 1-unit attached1.7%
  • 2-9 units16.3%
  • 10+ units3.8%
  • Mobile home & other1.8%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$82,500
Median rent$775
Owner-occupied45.6%
Vacant19.2%
Price-to-income2.2x
Est. income to buy$23,000