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ZIP Code · TN

ZIP 38107

Part of Memphis, TN
Pop. 13,912·Shelby County·129th most expensive ZIP in Tennessee
Median rent (all units)
$1,246/mo
Year-over-Year
-7.2%
Month-over-Month
+6.6%
vs US Median
-$719
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 38107 · $1,246
More affordable than 90% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$900
1 BR
$980
2 BR
$1,080
3 BR
$1,430
4 BR+
$1,660
Research median
$1,080/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
$14,952/yr
At $1,246/mo median
Location
StateTN
CountyShelby County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (7.2% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (-7.2% YoY, +6.6% MoM), not inventory.
Demographics

Who lives here

ZIP 38107 (Memphis, TN) is majority renter-occupied, has a median income below the national average, 24.4% of residents hold a bachelor's degree or higher.

Population
13,912
Median income
$35,265
Median age
38
Renters
62.1%
Age distribution
21.2%
25.4%
25.2%
13.7%
14.5%
Under 1821.2%
18–3425.4%
35–5425.2%
55–6413.7%
65+14.5%
Gender
46.8%
53.2%
Male46.8%
Female53.2%
Race & ethnicity
19.1%
74.9%
White19.1%
Black74.9%
Hispanic3.3%
Other2.2%
Education (25+)
13.3%
26.7%
35.6%
24.4%
No HS diploma13.3%
HS diploma26.7%
Some college35.6%
Bachelor's+24.4%
Housing tenure
37.9%
62.1%
Owner37.9%
Renter62.1%

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

2021 vs 2026

How ZIP 38107 in Memphis, TN has changed in 5 years

Income
$33,941 → $35,265
up 3.9%
Population
15,071 → 13,912
down 7.7%
Renter share
59.5% → 62.1%
+2.6 pts
Bachelor's+
24.1% → 24.4%
+0.3 pts
Median age
36.6 → 38
+1.4 yrs

Local incomes tracked alongside that move, going from a median of $33,941 in 2021 to $35,265 more recently. The population has contracted by 7.7% since 2021, moving from about 15,071 residents to roughly 13,912. Renters now make up 62.1% of households, compared with 59.5% five years ago.

Community

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Local insights

Tips for renters in ZIP 38107

About renting in ZIP 38107

Last updated: July 20, 2026

ZIP code 38107 covers Memphis, TN. The median rent here is $1,246/mo as of July 2026. A 1-bedroom rents for a median of $980/mo. A 2-bedroom rents for a median of $1,080/mo.

At 42% of local median household income ($35,265/yr), ZIP 38107 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 7.2% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38107?

As of July 20, 2026, the median monthly rent in ZIP 38107 (Memphis, TN) is $1,246. This is based on aggregated data from public sources and community submissions.

How does ZIP 38107 rent compare to the US average?

ZIP 38107's median rent of $1,246/mo is $719 (37%) below the US national median of $1,965/mo.

How does ZIP 38107 compare to other ZIPs in Tennessee?

ZIP 38107 is among the more affordable ZIP codes in Tennessee, ranking #129 out of 145 ZIPs at $1,246/mo.

How much income do you need to rent in ZIP 38107?

To keep rent at or below 30% of gross income, you would need to earn at least $50,000/year (~$24/hour full-time) to afford the median rent of $1,246/mo in ZIP 38107. The local median household income is $35,265/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 38107?

Rent in ZIP 38107 has decreased 7.2% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 38107 an affordable place to rent?

ZIP 38107 is considered stretched for renters. At $1,246/mo, rent takes approximately 42% of the local median household income ($35,265/yr). The standard benchmark is 30%. ZIP 38107 significantly exceeds that threshold, making it challenging for many renters.

What percentage of ZIP 38107 residents rent vs. own?

According to Census data, approximately 62.1% of ZIP 38107 households are renters, while 37.9% are owner-occupied. With a majority renter population, ZIP 38107 has a strong rental market.

How does ZIP 38107 compare to the rest of Memphis?

ZIP 38107 is more affordable than Memphis overall. At $1,246/mo, it's $34 below the Memphis citywide median of $1,280/mo.

When was rent data for ZIP 38107 last updated?

Rent data for ZIP 38107 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
42%
STRETCHED

At $1,246/mo, rent takes ~42% of ZIP 38107's median household income ($35,265/yr). The standard benchmark is 30%.

ZIP 38107 42%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 38107 (Memphis, TN)

Recent submissions

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