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ZIP Code · TN

ZIP 38002

Part of Lakeland, TN
Pop. 43,882·Shelby County·21st most expensive ZIP in Tennessee
Median rent (all units)
$2,101/mo
Year-over-Year
-0.1%
Month-over-Month
-0.3%
vs US Median
+$136
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 38002 · $2,101
More expensive than 65% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,560
1 BR
$1,690
2 BR
$1,870
3 BR
$2,470
4 BR+
$2,880
Research median
$1,870/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$25,212/yr
At $2,101/mo median
Location
StateTN
CountyShelby County
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (-0.1% YoY, -0.3% MoM), not inventory.
Demographics

Who lives here

ZIP 38002 (Lakeland, TN) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 45.8% of residents hold a bachelor's degree or higher.

Population
43,882
Median income
$116,895
Median age
40.1
Renters
16.4%
Age distribution
27.4%
16.1%
30.4%
14.3%
Under 1827.4%
18–3416.1%
35–5430.4%
55–6411.8%
65+14.3%
Gender
49.9%
50.1%
Male49.9%
Female50.1%
Race & ethnicity
69.9%
18.2%
White69.9%
Black18.2%
Hispanic5.5%
Asian3.3%
Other3.1%
Education (25+)
21.3%
28.9%
45.8%
No HS diploma4%
HS diploma21.3%
Some college28.9%
Bachelor's+45.8%
Housing tenure
83.6%
16.4%
Owner83.6%
Renter16.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 38002 in Lakeland, TN has changed in 5 years

Rent
$1,678 → $2,101
up 25.2%
Income
$100,218 → $116,895
up 16.6%
Population
43,098 → 43,882
up 1.8%
Renter share
15.8% → 16.4%
+0.6 pts
Bachelor's+
44% → 45.8%
+1.8 pts
Median age
39.4 → 40.1
+0.7 yrs

Across the past five years, the going rent in ZIP 38002 in Lakeland, TN has shifted from $1,678 to $2,101, up 25.2% since 2021. Household income in the area moved from $100,218 to $116,895 across the same window, up 16.6% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 38002 in Lakeland, TN adding about 784 residents over the five-year window, up 1.8% on net. Reading these numbers side by side helps frame whether current listings in ZIP 38002 in Lakeland, TN look reasonable against where the market sat half a decade ago.

Community

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Local insights

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About renting in ZIP 38002

Last updated: July 20, 2026

ZIP code 38002 covers Lakeland, TN. The median rent here is $2,101/mo as of July 2026. A 1-bedroom rents for a median of $1,690/mo. A 2-bedroom rents for a median of $1,870/mo.

At 22% of local median household income ($116,895/yr), ZIP 38002 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.1% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38002?

As of July 20, 2026, the median monthly rent in ZIP 38002 (Lakeland, TN) is $2,101. This is based on aggregated data from public sources and community submissions.

How does ZIP 38002 rent compare to the US average?

ZIP 38002's median rent of $2,101/mo is $136 (7%) above the US national median of $1,965/mo.

How does ZIP 38002 compare to other ZIPs in Tennessee?

ZIP 38002 is one of the pricier ZIP codes in Tennessee, ranking #21 out of 145 ZIPs tracked at $2,101/mo.

How much income do you need to rent in ZIP 38002?

To keep rent at or below 30% of gross income, you would need to earn at least $84,000/year (~$40/hour full-time) to afford the median rent of $2,101/mo in ZIP 38002. The local median household income is $116,895/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 38002?

Rent in ZIP 38002 has been relatively stable over the past year, with a 0.1% change year over year as of July 20, 2026.

Is ZIP 38002 an affordable place to rent?

ZIP 38002 is considered very affordable for renters. At $2,101/mo, rent takes approximately 22% of the local median household income ($116,895/yr). The standard benchmark is 30%. ZIP 38002 falls comfortably within that range.

What percentage of ZIP 38002 residents rent vs. own?

According to Census data, approximately 16.4% of ZIP 38002 households are renters, while 83.6% are owner-occupied. ZIP 38002 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 38002 compare to the rest of Lakeland?

ZIP 38002 is pricier than Lakeland as a whole. At $2,101/mo, it's $376 above the Lakeland citywide median of $1,725/mo.

When was rent data for ZIP 38002 last updated?

Rent data for ZIP 38002 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
22%
VERY AFFORDABLE

At $2,101/mo, rent takes ~22% of ZIP 38002's median household income ($116,895/yr). The standard benchmark is 30%.

ZIP 38002 22%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 38002 (Lakeland, TN)

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