Area data
Memphis, TN — ZIP 38116
Population: 40,061 (Census ACS)
Home values & appreciation
- Median home value
- $155,547
- 1-year appreciation
- -0.9%
- 3-year appreciation
- -2.5%
- 5-year appreciation
- +8.8%
- 10-year appreciation
- +90.5%
- All-time peak (2022-10)
- $169,464
- House Price Index
- 475.9 (+0.5% YoY)
Market activity
- Median sale price
- $118,500
- Median days on market
- 78 days
- Sale-to-list ratio
- 91.2%
- 1-year forecast
- -0.2%
- Days to pending
- 33 days
- New listings (monthly)
- 24
Rents
- Typical rent
- $908/mo
- 1-year rent change
- +0.7%
- 1BR fair-market rent
- $1,130/mo
- 3BR fair-market rent
- $1,650/mo
Affordability
- Cost of living index (Below Average)
- 90.5 (100 = US avg)
- Electricity rate (state-level)
- 13.2¢/kWh
- Natural gas rate (state-level)
- $11.80/MCF
- 30-year mortgage rate (national)
- 6.66%
- 15-year mortgage rate (national)
- 6.00%
Schools
- Total schools
- 15
- Elementary schools
- 7
- Middle schools
- 3
- High schools
- 4
- Charter schools
- 5
Natural hazards & flood risk
- Overall hazard risk
- Relatively High
- Top hazards
- coldWave, tornado, earthquake, heatWave, iceStorm
- FEMA flood zone
- AE
- Flood risk level
- High
Climate (30-year normals)
- Average annual temperature
- 79.0°F
- Average high
- 80.0°F
- Average low
- 78.0°F
- Annual precipitation
- 48.3 in
Air quality
- Air quality rating
- Moderate
- Median AQI (annual)
- 52
- Days with Good air quality
- 155
Walkability & transit
- Walkability index
- 11.5 / 20
- Transit service frequency
- 418
Amenities
- Nearest airport
- Memphis International Airport (MEM) (2 mi)
- Nearest major airport
- Memphis International Airport (MEM) (2 mi)
- Hospitals nearby (~15 mi)
- 339
- Avg hospital rating
- 3.0 / 5
- Solar radiation rating
- Fair (4.5 kWh/m²/day)
Migration
- Net migration
- -3,845 tax filers
Housing stock
- Median year housing built
- 1,966
- Median annual property tax
- $1,575
- Mean commute to work
- 20 min
- Households with broadband internet
- 52.8%
Employment & development
- Total county employment
- 427,155
- Average weekly wage
- $1,346
- Top industries (by employment)
- Health Care, Administrative Services, Accommodation & Food
- Annual residential building permits (county)
- 642
Area data compiled from public government, academic, and industry research feeds. Data sources →
Data last updated
Most recent source refresh: Aug 2026. See all data sources →