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ZIP Code · TN

ZIP 38112

Part of Memphis, TN
Pop. 16,809·Shelby County·122nd most expensive ZIP in Tennessee
Median rent (all units)
$1,302/mo
Year-over-Year
+7.8%
Month-over-Month
-5.4%
vs US Median
-$663
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 38112 · $1,302
More affordable than 87% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$890
1 BR
$970
2 BR
$1,080
3 BR
$1,430
4 BR+
$1,670
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
$15,624/yr
At $1,302/mo median
Location
StateTN
CountyShelby County
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (up only 7.8% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+7.8% YoY, -5.4% MoM), not inventory.
Demographics

Who lives here

ZIP 38112 (Memphis, TN) is roughly split between renters and owners, has a median income below the national average, 39.2% of residents hold a bachelor's degree or higher.

Population
16,809
Median income
$55,207
Median age
32.4
Renters
48.2%
Age distribution
23.9%
29.7%
20.7%
12.2%
13.6%
Under 1823.9%
18–3429.7%
35–5420.7%
55–6412.2%
65+13.6%
Gender
51.9%
48.1%
Male51.9%
Female48.1%
Race & ethnicity
35.5%
44.4%
14.9%
White35.5%
Black44.4%
Hispanic14.9%
Asian1.2%
Other3.9%
Education (25+)
15.1%
22.8%
22.9%
39.2%
No HS diploma15.1%
HS diploma22.8%
Some college22.9%
Bachelor's+39.2%
Housing tenure
51.8%
48.2%
Owner51.8%
Renter48.2%

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

2021 vs 2026

How ZIP 38112 in Memphis, TN has changed in 5 years

Income
$43,013 → $55,207
up 28.3%
Population
16,437 → 16,809
up 2.3%
Renter share
50% → 48.2%
-1.8 pts
Bachelor's+
37.4% → 39.2%
+1.8 pts
Median age
34.5 → 32.4
-2.1 yrs

Median household income rose from $43,013 to $55,207 between 2021 and 2024, a 28.3% shift. The population has grown by 2.3% since 2021, moving from about 16,437 residents to roughly 16,809. Renters now make up 48.2% of households, compared with 50% five years ago.

Community

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Local insights

Tips for renters in ZIP 38112

About renting in ZIP 38112

Last updated: July 20, 2026

ZIP code 38112 covers Memphis, TN. The median rent here is $1,302/mo as of July 2026. A 1-bedroom rents for a median of $970/mo. A 2-bedroom rents for a median of $1,080/mo.

At 28% of local median household income ($55,207/yr), ZIP 38112 ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.8% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38112?

As of July 20, 2026, the median monthly rent in ZIP 38112 (Memphis, TN) is $1,302. This is based on aggregated data from public sources and community submissions.

How does ZIP 38112 rent compare to the US average?

ZIP 38112's median rent of $1,302/mo is $663 (34%) below the US national median of $1,965/mo.

How does ZIP 38112 compare to other ZIPs in Tennessee?

ZIP 38112 is among the more affordable ZIP codes in Tennessee, ranking #122 out of 145 ZIPs at $1,302/mo.

How much income do you need to rent in ZIP 38112?

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 $1,302/mo in ZIP 38112. The local median household income is $55,207/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 38112?

Rent in ZIP 38112 has increased 7.8% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 38112 an affordable place to rent?

ZIP 38112 is considered affordable for renters. At $1,302/mo, rent takes approximately 28% of the local median household income ($55,207/yr). The standard benchmark is 30%. ZIP 38112 falls comfortably within that range.

What percentage of ZIP 38112 residents rent vs. own?

According to Census data, approximately 48.2% of ZIP 38112 households are renters, while 51.8% are owner-occupied. ZIP 38112 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 38112 compare to the rest of Memphis?

ZIP 38112 is pricier than Memphis as a whole. At $1,302/mo, it's $22 above the Memphis citywide median of $1,280/mo.

When was rent data for ZIP 38112 last updated?

Rent data for ZIP 38112 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
28%
AFFORDABLE

At $1,302/mo, rent takes ~28% of ZIP 38112's median household income ($55,207/yr). The standard benchmark is 30%.

ZIP 38112 28%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 38112 (Memphis, TN)

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