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ZIP Code · TN

ZIP 38109

Part of Memphis, TN
Pop. 42,452·Shelby County·132nd most expensive ZIP in Tennessee
Median rent (all units)
$1,172/mo
Year-over-Year
+6.2%
Month-over-Month
+2.4%
vs US Median
-$793
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 38109 · $1,172
More affordable than 93% 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
$14,064/yr
At $1,172/mo median
Location
StateTN
CountyShelby County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 6.2% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+6.2% YoY, +2.4% MoM), not inventory.
Demographics

Who lives here

ZIP 38109 (Memphis, TN) is majority owner-occupied, has a median income below the national average, 14.2% of residents hold a bachelor's degree or higher.

Population
42,452
Median income
$37,496
Median age
38.9
Renters
44.3%
Age distribution
24.7%
20%
24.8%
18.9%
Under 1824.7%
18–3420%
35–5424.8%
55–6411.5%
65+18.9%
Gender
45.3%
54.7%
Male45.3%
Female54.7%
Race & ethnicity
94.9%
White1.8%
Black94.9%
Hispanic0.8%
Other2.5%
Education (25+)
12.5%
45.7%
27.6%
14.2%
No HS diploma12.5%
HS diploma45.7%
Some college27.6%
Bachelor's+14.2%
Housing tenure
55.7%
44.3%
Owner55.7%
Renter44.3%

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

2021 vs 2026

How ZIP 38109 in Memphis, TN has changed in 5 years

Income
$32,404 → $37,496
up 15.7%
Population
44,899 → 42,452
down 5.5%
Renter share
44.7% → 44.3%
-0.4 pts
Bachelor's+
13.1% → 14.2%
+1.1 pts

Median household income rose from $32,404 to $37,496 between 2021 and 2024, a 15.7% shift. The population has contracted by 5.5% since 2021, moving from about 44,899 residents to roughly 42,452.

Community

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Local insights

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About renting in ZIP 38109

Last updated: July 20, 2026

ZIP code 38109 covers Memphis, TN. The median rent here is $1,172/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 38% of local median household income ($37,496/yr), ZIP 38109 ranks as moderate compared to the national benchmark of 30%. Rents have increased 6.2% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38109?

As of July 20, 2026, the median monthly rent in ZIP 38109 (Memphis, TN) is $1,172. This is based on aggregated data from public sources and community submissions.

How does ZIP 38109 rent compare to the US average?

ZIP 38109's median rent of $1,172/mo is $793 (40%) below the US national median of $1,965/mo.

How does ZIP 38109 compare to other ZIPs in Tennessee?

ZIP 38109 is among the more affordable ZIP codes in Tennessee, ranking #132 out of 145 ZIPs at $1,172/mo.

How much income do you need to rent in ZIP 38109?

To keep rent at or below 30% of gross income, you would need to earn at least $47,000/year (~$23/hour full-time) to afford the median rent of $1,172/mo in ZIP 38109. The local median household income is $37,496/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 38109?

Rent in ZIP 38109 has increased 6.2% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 38109 an affordable place to rent?

ZIP 38109 is considered moderate for renters. At $1,172/mo, rent takes approximately 38% of the local median household income ($37,496/yr). The standard benchmark is 30%. ZIP 38109 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 38109 residents rent vs. own?

According to Census data, approximately 44.3% of ZIP 38109 households are renters, while 55.7% are owner-occupied. ZIP 38109 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 38109 compare to the rest of Memphis?

ZIP 38109 is more affordable than Memphis overall. At $1,172/mo, it's $108 below the Memphis citywide median of $1,280/mo.

When was rent data for ZIP 38109 last updated?

Rent data for ZIP 38109 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
38%
MODERATE

At $1,172/mo, rent takes ~38% of ZIP 38109's median household income ($37,496/yr). The standard benchmark is 30%.

ZIP 38109 38%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 38109 (Memphis, TN)

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