RentDataNowRentDataNow
ZIP Code · TN

ZIP 38103

Part of Memphis, TN
Pop. 14,534·Shelby County·94th most expensive ZIP in Tennessee
Median rent (all units)
$1,555/mo
Year-over-Year
+10.6%
Month-over-Month
-0.5%
vs US Median
-$396
Falling (Monthly)
Be the first to discuss 38103 rents ↓
Most AffordableMost Expensive
ZIP 38103 · $1,555
More affordable than 70% of US ZIP codes · National median $1,951/mo
Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio
$1,179
1 BR
$1,283
2 BR
$1,416
3 BR
$1,868
4 BR+
$2,180
Research median
$1,416/mo

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

Rent trends

12-month history

Loading…

Last updated: June 22, 2026

Annual cost
$18,660/yr
At $1,555/mo median
Location
StateTN
CountyShelby County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 10.6% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+10.6% YoY, -0.5% MoM), not inventory.
Demographics

Who lives here

ZIP 38103 (Memphis, TN) is majority renter-occupied, skews toward younger working-age adults, 61.6% of residents hold a bachelor's degree or higher.

Population
14,534
Median income
$76,278
Median age
35.5
Renters
68.3%
Age distribution
43.2%
30.6%
Under 185.8%
18–3443.2%
35–5430.6%
55–6410.8%
65+9.7%
Gender
59.9%
40.1%
Male59.9%
Female40.1%
Race & ethnicity
60.9%
25.8%
White60.9%
Black25.8%
Hispanic4.1%
Asian7.4%
Other1.8%
Education (25+)
14.1%
18.7%
61.6%
No HS diploma5.6%
HS diploma14.1%
Some college18.7%
Bachelor's+61.6%
Housing tenure
31.7%
68.3%
Owner31.7%
Renter68.3%

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

2021 vs 2026

How ZIP 38103 in Memphis, TN has changed in 5 years

Rent
$1,345 → $1,555
up 15.6%
Income
$79,307 → $76,278
down 3.8%
Population
14,243 → 14,534
up 2.0%
Renter share
67% → 68.3%
+1.3 pts
Bachelor's+
65.2% → 61.6%
-3.6 pts
Median age
33.9 → 35.5
+1.6 yrs

Since 2021, the typical rent in ZIP 38103 in Memphis, TN has increased from $1,345 to $1,555, a 15.6% change over five years. Median household income slipped from $79,307 to $76,278 between 2021 and 2024, a 3.8% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 2.0% since 2021, moving from about 14,243 residents to roughly 14,534. College-educated residents now make up 61.6% of adults here, versus 65.2% in 2021. Taken together, the five-year picture in ZIP 38103 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.

Community

Discussions about ZIP 38103

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 38103

About renting in ZIP 38103

Last updated: June 22, 2026

ZIP code 38103 covers Memphis, TN. The median rent here is $1,555/mo as of June 2026. A 1-bedroom rents for a median of $1,283/mo. A 2-bedroom rents for a median of $1,416/mo.

At 24% of local median household income ($76,278/yr), ZIP 38103 ranks as affordable compared to the national benchmark of 30%. Rents have increased 10.6% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38103?

As of June 22, 2026, the median monthly rent in ZIP 38103 (Memphis, TN) is $1,555. This is based on aggregated data from public sources and community submissions.

How does ZIP 38103 rent compare to the US average?

ZIP 38103's median rent of $1,555/mo is $396 (20%) below the US national median of $1,951/mo.

How does ZIP 38103 compare to other ZIPs in Tennessee?

ZIP 38103 falls in the middle range for Tennessee, ranking #94 out of 144 ZIPs at $1,555/mo.

How much income do you need to rent in ZIP 38103?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (~$30/hour full-time) to afford the median rent of $1,555/mo in ZIP 38103. The local median household income is $76,278/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 38103?

Rent in ZIP 38103 has increased 10.6% over the past year as of June 22, 2026, putting upward pressure on renter budgets.

Is ZIP 38103 an affordable place to rent?

ZIP 38103 is considered very affordable for renters. At $1,555/mo, rent takes approximately 24% of the local median household income ($76,278/yr). The standard benchmark is 30%. ZIP 38103 falls comfortably within that range.

What percentage of ZIP 38103 residents rent vs. own?

According to Census data, approximately 68.3% of ZIP 38103 households are renters, while 31.7% are owner-occupied. With a majority renter population, ZIP 38103 has a strong rental market.

How does ZIP 38103 compare to the rest of Memphis?

ZIP 38103 is pricier than Memphis as a whole. At $1,555/mo, it's $274 above the Memphis citywide median of $1,281/mo.

When was rent data for ZIP 38103 last updated?

Rent data for ZIP 38103 reflects June 22, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
24%
VERY AFFORDABLE

At $1,555/mo, rent takes ~24% of ZIP 38103's median household income ($76,278/yr). The standard benchmark is 30%.

ZIP 38103 24%Benchmark 30%
State income taxNone
Compare

How does this area stack up?

Pick another city or ZIP to compare.

Schools nearby

Public schools near ZIP 38103 (Memphis, TN)

Recent submissions

Be the first to submit your rent for this ZIP.

Recent discussions

No discussions yet.