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ZIP Code · TN

ZIP 38016

Part of Cordova, TN
Pop. 44,136·Shelby County·85th most expensive ZIP in Tennessee
Median rent (all units)
$1,576/mo
Year-over-Year
-1.3%
Month-over-Month
-1.2%
vs US Median
-$389
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 38016 · $1,576
More affordable than 68% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,280
1 BR
$1,400
2 BR
$1,570
3 BR
$2,070
4 BR+
$2,420
Research median
$1,570/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
$18,912/yr
At $1,576/mo median
Location
StateTN
CountyShelby County
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 1.3% YoY), so renters have negotiating leverage.
Based on rent-price momentum (-1.3% YoY, -1.2% MoM), not inventory.
Demographics

Who lives here

ZIP 38016 (Cordova, TN) is roughly split between renters and owners, 40.8% of residents hold a bachelor's degree or higher.

Population
44,136
Median income
$76,569
Median age
37
Renters
45.3%
Age distribution
21.2%
26.7%
26.5%
14%
Under 1821.2%
18–3426.7%
35–5426.5%
55–6411.6%
65+14%
Gender
46.3%
53.7%
Male46.3%
Female53.7%
Race & ethnicity
29%
54.7%
White29%
Black54.7%
Hispanic7.3%
Asian4.3%
Other4.8%
Education (25+)
23.3%
32.2%
40.8%
No HS diploma3.7%
HS diploma23.3%
Some college32.2%
Bachelor's+40.8%
Housing tenure
54.7%
45.3%
Owner54.7%
Renter45.3%

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

2021 vs 2026

How ZIP 38016 in Cordova, TN has changed in 5 years

Rent
$1,377 → $1,576
up 14.5%
Income
$66,480 → $76,569
up 15.2%
Population
45,170 → 44,136
down 2.3%
Renter share
42.6% → 45.3%
+2.7 pts
Bachelor's+
41.7% → 40.8%
-0.9 pts
Median age
38.4 → 37
-1.4 yrs

Since 2021, the typical rent in ZIP 38016 in Cordova, TN has increased from $1,377 to $1,576, a 14.5% change over five years. Local incomes tracked alongside that move, going from a median of $66,480 in 2021 to $76,569 more recently. The population has contracted by 2.3% since 2021, moving from about 45,170 residents to roughly 44,136. Renters now make up 45.3% of households, compared with 42.6% five years ago. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 38016 in Cordova, TN market of 2021.

Community

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Local insights

Tips for renters in ZIP 38016

About renting in ZIP 38016

Last updated: July 20, 2026

ZIP code 38016 covers Cordova, TN. The median rent here is $1,576/mo as of July 2026. A 1-bedroom rents for a median of $1,400/mo. A 2-bedroom rents for a median of $1,570/mo.

At 25% of local median household income ($76,569/yr), ZIP 38016 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 1.3% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38016?

As of July 20, 2026, the median monthly rent in ZIP 38016 (Cordova, TN) is $1,576. This is based on aggregated data from public sources and community submissions.

How does ZIP 38016 rent compare to the US average?

ZIP 38016's median rent of $1,576/mo is $389 (20%) below the US national median of $1,965/mo.

How does ZIP 38016 compare to other ZIPs in Tennessee?

ZIP 38016 falls in the middle range for Tennessee, ranking #85 out of 145 ZIPs at $1,576/mo.

How much income do you need to rent in ZIP 38016?

To keep rent at or below 30% of gross income, you would need to earn at least $63,000/year (~$30/hour full-time) to afford the median rent of $1,576/mo in ZIP 38016. The local median household income is $76,569/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 38016?

Rent in ZIP 38016 has decreased 1.3% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 38016 an affordable place to rent?

ZIP 38016 is considered affordable for renters. At $1,576/mo, rent takes approximately 25% of the local median household income ($76,569/yr). The standard benchmark is 30%. ZIP 38016 falls comfortably within that range.

What percentage of ZIP 38016 residents rent vs. own?

According to Census data, approximately 45.3% of ZIP 38016 households are renters, while 54.7% are owner-occupied. ZIP 38016 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 38016 compare to the rest of Cordova?

ZIP 38016 is more affordable than Cordova overall. At $1,576/mo, it's $235 below the Cordova citywide median of $1,811/mo.

When was rent data for ZIP 38016 last updated?

Rent data for ZIP 38016 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
25%
AFFORDABLE

At $1,576/mo, rent takes ~25% of ZIP 38016's median household income ($76,569/yr). The standard benchmark is 30%.

ZIP 38016 25%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 38016 (Cordova, TN)

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