ZIP Code · TN

ZIP 38017

Part of Collierville, TN

Pop. 56,826·Shelby County·34th most expensive ZIP in Tennessee

Median rent (all units)

$1,886/mo

Year-over-Year

+1.8%

Month-over-Month

+0.4%

vs US Median

-$46

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 38017 · $1,886

More expensive than 55% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,370

1 BR

$1,500

2 BR

$1,650

3 BR

$2,180

4 BR+

$2,540

Research median

$1,650/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: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 38017 is 0.5% below its high of $1,895 in March 2025, at $1,886 as of September 2026.

Past year vs. the rest of Tennessee

Rent in ZIP 38017 changed +1.8% over the year to September 2026. Across the 127 Tennessee ZIP codes Zillow tracks, the typical change was +1.8%.

Recent direction

Rent has risen 6 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($138,677) is $3,467 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,540).

Cheaper nearby

ZIP 38018, 8 miles away, rents for 12% less ($1,658/mo), about $2,700 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 38017. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$22,632/yr

At $1,886/mo median

Location

CityCollierville

StateTN

CountyShelby County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+1.8% YoY, +0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 38017 (Collierville, TN) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 61.4% of residents hold a bachelor's degree or higher.

Population

56,826

Median income

$138,677

Median age

41.5

Renters

21.6%

Age distribution

26%

15%

28.5%

14.1%

16.4%

Under 1826%

18–3415%

35–5428.5%

55–6414.1%

65+16.4%

Gender

47.8%

52.2%

Male47.8%

Female52.2%

Race & ethnicity

67.7%

13.1%

White67.7%

Black11.5%

Hispanic5.1%

Asian13.1%

Other2.7%

Education (25+)

13.7%

20.7%

61.4%

No HS diploma4.1%

HS diploma13.7%

Some college20.7%

Bachelor's+61.4%

Housing tenure

78.4%

21.6%

Owner78.4%

Renter21.6%

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

2022 vs 2026

How ZIP 38017 in Collierville, TN has changed in 5 years

Rent

$1,733 → $1,886

up 8.8%

Income

$122,556 → $138,677

up 13.2%

Population

55,161 → 56,826

up 3.0%

Renter share

21.2% → 21.6%

+0.4 pts

Bachelor's+

59.2% → 61.4%

+2.2 pts

The median rent in ZIP 38017 in Collierville, TN stood at $1,733 in 2022 and currently runs about $1,886, reflecting a 8.8% increase over the period. Census figures show median household income at $138,677 today, compared with $122,556 five years earlier. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 3.0% since 2021, moving from about 55,161 residents to roughly 56,826. College-educated residents now make up 61.4% of adults here, versus 59.2% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

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Local insights

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About renting in ZIP 38017

Last updated: October 17, 2026

ZIP code 38017 covers Collierville, TN. The median rent here is $1,886/mo as of October 2026. A 1-bedroom rents for a median of $1,500/mo. A 2-bedroom rents for a median of $1,650/mo.

At 16% of local median household income ($138,677/yr), ZIP 38017 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 38017?

To keep rent at or below 30% of gross income, you would need to earn at least $75,000/year (about $36/hour full-time) to afford the median rent of $1,886/mo in ZIP 38017. The local median household income is $138,677/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 38017?

Rent in ZIP 38017 has risen 1.8% over the past year as of September 2026. It sits 0.5% below its high of $1,895 in March 2025.

How does ZIP 38017 compare to other ZIPs in Tennessee?

ZIP 38017 is one of the pricier among Tennessee ZIP codes for rent, ranking #34 of 147 at $1,886/mo. Over the year to September 2026, rent in ZIP 38017 changed +1.8%, against a typical +1.8% across the 127 Tennessee ZIP codes Zillow tracks.