ZIP 38018
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12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in ZIP 38018 usually run 1.1% below trend in December and 0.7% above it in June, about $30 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 38018 is 1% below its high of $1,675 in March 2026, at $1,658 as of September 2026.
Rent in ZIP 38018 changed -0.2% over the year to September 2026. Across the 127 Tennessee ZIP codes Zillow tracks, the typical change was +1.8%.
From 2019 to 2024, rent in ZIP 38018 rose 36% while median household income rose 25.4% ($71,789 to $90,004). Rent outpaced income.
Rent in ZIP 38018 is 35.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has fallen 2 months in a row, and rose in 6 of the last 12 months.
30% of the median household income ($90,004) is $2,250 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,730); a 3-bedroom is $2,280.
22nd cheapest of 22 ZIP codes in Memphis.
ZIP 38134, 6 miles away, rents for 27% less ($1,206/mo), about $5,400 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 38018. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 38018 (Memphis, TN) is majority owner-occupied, has a median income above the national average, 46.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 38018 in Memphis, TN has changed in 5 years
Rent in ZIP 38018 in Memphis, TN has climbed 18.4% since 2021, going from about $1,400 per month to roughly $1,658 today. Median household income grew from $79,490 to $90,004 between 2021 and 2024, a 13.2% shift. Rent outpaced income growth by roughly 5.2 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Taken together, the five-year picture in ZIP 38018 in Memphis, TN reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Tips for renters in ZIP 38018
Last updated: October 17, 2026
ZIP code 38018 covers Memphis, TN. The median rent here is $1,658/mo as of October 2026. A 1-bedroom rents for a median of $1,570/mo. A 2-bedroom rents for a median of $1,730/mo.
At 22% of local median household income ($90,004/yr), ZIP 38018 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.2% over the past year.
Frequently asked questions
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How does ZIP 38018 compare to other ZIPs in Tennessee?
How does ZIP 38018 compare to the rest of Memphis?
At $1,658/mo, rent takes ~22% of ZIP 38018's median household income ($90,004/yr). The standard benchmark is 30%.
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