RentDataNowRentDataNow
ZIP Code · TN

ZIP 38104

Part of Memphis, TN
Pop. 22,634·Shelby County·123rd most expensive ZIP in Tennessee
Median rent (all units)
$1,296/mo
Year-over-Year
+8.0%
Month-over-Month
+1.8%
vs US Median
-$666
Rising (Monthly)
Be the first to discuss 38104 rents ↓
Most AffordableMost Expensive
ZIP 38104 · $1,296
More affordable than 87% of US ZIP codes · National median $1,962/mo
Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio
$1,220
1 BR
$1,330
2 BR
$1,470
3 BR
$1,940
4 BR+
$2,260
Research median
$1,470/mo

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

Rent trends

12-month history

Loading…

Last updated: August 17, 2026

Annual cost
$15,552/yr
At $1,296/mo median
Location
StateTN
CountyShelby County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 8.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+8.0% YoY, +1.8% MoM), not inventory.
Demographics

Who lives here

ZIP 38104 (Memphis, TN) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 51.3% of residents hold a bachelor's degree or higher.

Population
22,634
Median income
$58,117
Median age
37
Renters
62%
Age distribution
12.9%
33.9%
26.9%
15.4%
Under 1812.9%
18–3433.9%
35–5426.9%
55–6411%
65+15.4%
Gender
50.1%
49.9%
Male50.1%
Female49.9%
Race & ethnicity
59.9%
28.8%
White59.9%
Black28.8%
Hispanic5.5%
Asian2.9%
Other2.8%
Education (25+)
15.6%
27.1%
51.3%
No HS diploma6.1%
HS diploma15.6%
Some college27.1%
Bachelor's+51.3%
Housing tenure
38%
62%
Owner38%
Renter62%

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

2021 vs 2026

How ZIP 38104 in Memphis, TN has changed in 5 years

Rent
$963 → $1,296
up 34.6%
Income
$48,487 → $58,117
up 19.9%
Population
22,900 → 22,634
down 1.2%
Renter share
63.4% → 62%
-1.4 pts
Bachelor's+
50% → 51.3%
+1.3 pts

The median rent in ZIP 38104 in Memphis, TN stood at $963 in 2021 and currently runs about $1,296, reflecting a 34.6% increase over the period. Household income in the area moved from $48,487 to $58,117 across the same window, up 19.9% versus 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 1.2% since 2021, moving from about 22,900 residents to roughly 22,634. Reading these numbers side by side helps frame whether current listings in ZIP 38104 in Memphis, TN look reasonable against where the market sat half a decade ago.

Community

Discussions about ZIP 38104

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 38104

About renting in ZIP 38104

Last updated: August 17, 2026

ZIP code 38104 covers Memphis, TN. The median rent here is $1,296/mo as of August 2026. A 1-bedroom rents for a median of $1,330/mo. A 2-bedroom rents for a median of $1,470/mo.

At 27% of local median household income ($58,117/yr), ZIP 38104 ranks as affordable compared to the national benchmark of 30%. Rents have increased 8.0% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38104?

As of August 17, 2026, the median monthly rent in ZIP 38104 (Memphis, TN) is $1,296. This is based on aggregated data from public sources and community submissions.

How does ZIP 38104 rent compare to the US average?

ZIP 38104's median rent of $1,296/mo is $666 (34%) below the US national median of $1,962/mo.

How does ZIP 38104 compare to other ZIPs in Tennessee?

ZIP 38104 is among the more affordable ZIP codes in Tennessee, ranking #123 out of 143 ZIPs at $1,296/mo.

How much income do you need to rent in ZIP 38104?

To keep rent at or below 30% of gross income, you would need to earn at least $52,000/year (~$25/hour full-time) to afford the median rent of $1,296/mo in ZIP 38104. The local median household income is $58,117/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 38104?

Rent in ZIP 38104 has increased 8.0% over the past year as of August 17, 2026, putting upward pressure on renter budgets.

Is ZIP 38104 an affordable place to rent?

ZIP 38104 is considered affordable for renters. At $1,296/mo, rent takes approximately 27% of the local median household income ($58,117/yr). The standard benchmark is 30%. ZIP 38104 falls comfortably within that range.

What percentage of ZIP 38104 residents rent vs. own?

According to Census data, approximately 62% of ZIP 38104 households are renters, while 38% are owner-occupied. With a majority renter population, ZIP 38104 has a strong rental market.

How does ZIP 38104 compare to the rest of Memphis?

ZIP 38104 is pricier than Memphis as a whole. At $1,296/mo, it's $34 above the Memphis citywide median of $1,262/mo.

When was rent data for ZIP 38104 last updated?

Rent data for ZIP 38104 reflects August 17, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
27%
AFFORDABLE

At $1,296/mo, rent takes ~27% of ZIP 38104's median household income ($58,117/yr). The standard benchmark is 30%.

ZIP 38104 27%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 38104 (Memphis, TN)

Recent submissions

Be the first to submit your rent for this ZIP.

Recent discussions

No discussions yet.

Add RentDataNow as a preferred source on Google