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ZIP Code · TN

ZIP 38018

Part of Memphis, TN
Pop. 38,527·Shelby County·56th most expensive ZIP in Tennessee
Median rent (all units)
$1,700/mo
Year-over-Year
-1.0%
Month-over-Month
-3.5%
vs US Median
-$265
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 38018 · $1,700
More affordable than 59% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,440
1 BR
$1,570
2 BR
$1,730
3 BR
$2,280
4 BR+
$2,660
Research median
$1,730/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
$20,400/yr
At $1,700/mo median
Location
StateTN
CountyShelby County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 1.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-1.0% YoY, -3.5% MoM), not inventory.
Demographics

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.

Population
38,527
Median income
$90,004
Median age
36.5
Renters
38%
Age distribution
24.6%
22.7%
28%
12.2%
12.6%
Under 1824.6%
18–3422.7%
35–5428%
55–6412.2%
65+12.6%
Gender
47.7%
52.3%
Male47.7%
Female52.3%
Race & ethnicity
35.4%
49.3%
White35.4%
Black49.3%
Hispanic9.1%
Asian4.6%
Other1.5%
Education (25+)
19.2%
28.4%
46.1%
No HS diploma6.2%
HS diploma19.2%
Some college28.4%
Bachelor's+46.1%
Housing tenure
62%
38%
Owner62%
Renter38%

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

2021 vs 2026

How ZIP 38018 in Memphis, TN has changed in 5 years

Rent
$1,462 → $1,700
up 16.3%
Income
$79,490 → $90,004
up 13.2%
Population
38,789 → 38,527
down 0.7%
Renter share
38.6% → 38%
-0.6 pts
Bachelor's+
45.5% → 46.1%
+0.6 pts
Median age
35.9 → 36.5
+0.6 yrs

Rent in ZIP 38018 in Memphis, TN has climbed 16.3% since 2021, going from about $1,462 per month to roughly $1,700 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 3.1 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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Local insights

Tips for renters in ZIP 38018

About renting in ZIP 38018

Last updated: July 20, 2026

ZIP code 38018 covers Memphis, TN. The median rent here is $1,700/mo as of July 2026. A 1-bedroom rents for a median of $1,570/mo. A 2-bedroom rents for a median of $1,730/mo.

At 23% of local median household income ($90,004/yr), ZIP 38018 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 1.0% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38018?

As of July 20, 2026, the median monthly rent in ZIP 38018 (Memphis, TN) is $1,700. This is based on aggregated data from public sources and community submissions.

How does ZIP 38018 rent compare to the US average?

ZIP 38018's median rent of $1,700/mo is $265 (13%) below the US national median of $1,965/mo.

How does ZIP 38018 compare to other ZIPs in Tennessee?

ZIP 38018 falls in the middle range for Tennessee, ranking #56 out of 145 ZIPs at $1,700/mo.

How much income do you need to rent in ZIP 38018?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (~$33/hour full-time) to afford the median rent of $1,700/mo in ZIP 38018. The local median household income is $90,004/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 38018?

Rent in ZIP 38018 has decreased 1.0% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 38018 an affordable place to rent?

ZIP 38018 is considered very affordable for renters. At $1,700/mo, rent takes approximately 23% of the local median household income ($90,004/yr). The standard benchmark is 30%. ZIP 38018 falls comfortably within that range.

What percentage of ZIP 38018 residents rent vs. own?

According to Census data, approximately 38% of ZIP 38018 households are renters, while 62% are owner-occupied. ZIP 38018 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 38018 compare to the rest of Memphis?

ZIP 38018 is pricier than Memphis as a whole. At $1,700/mo, it's $420 above the Memphis citywide median of $1,280/mo.

When was rent data for ZIP 38018 last updated?

Rent data for ZIP 38018 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
23%
VERY AFFORDABLE

At $1,700/mo, rent takes ~23% of ZIP 38018's median household income ($90,004/yr). The standard benchmark is 30%.

ZIP 38018 23%Benchmark 30%
State income taxNone
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