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ZIP Code · TN

ZIP 38119

Part of Memphis, TN
Pop. 23,464·Shelby County·71st most expensive ZIP in Tennessee
Median rent (all units)
$1,651/mo
Year-over-Year
+6.4%
Month-over-Month
+3.3%
vs US Median
-$314
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 38119 · $1,651
More affordable than 62% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,210
1 BR
$1,310
2 BR
$1,450
3 BR
$1,920
4 BR+
$2,230
Research median
$1,450/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
$19,812/yr
At $1,651/mo median
Location
StateTN
CountyShelby County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 6.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+6.4% YoY, +3.3% MoM), not inventory.
Demographics

Who lives here

ZIP 38119 (Memphis, TN) is majority owner-occupied, has a large retiree population, 51.5% of residents hold a bachelor's degree or higher.

Population
23,464
Median income
$89,289
Median age
41.9
Renters
39.9%
Age distribution
20.3%
20.8%
26.3%
12.4%
20.2%
Under 1820.3%
18–3420.8%
35–5426.3%
55–6412.4%
65+20.2%
Gender
47.8%
52.2%
Male47.8%
Female52.2%
Race & ethnicity
48.1%
39.9%
White48.1%
Black39.9%
Hispanic5.6%
Asian3.3%
Other3.2%
Education (25+)
15.3%
28.8%
51.5%
No HS diploma4.4%
HS diploma15.3%
Some college28.8%
Bachelor's+51.5%
Housing tenure
60.1%
39.9%
Owner60.1%
Renter39.9%

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

2021 vs 2026

How ZIP 38119 in Memphis, TN has changed in 5 years

Income
$83,083 → $89,289
up 7.5%
Population
24,027 → 23,464
down 2.3%
Renter share
42.1% → 39.9%
-2.2 pts
Bachelor's+
49% → 51.5%
+2.5 pts
Median age
40.1 → 41.9
+1.8 yrs

Median household income grew from $83,083 to $89,289 between 2021 and 2024, a 7.5% shift. Headcount in the area went from 24,027 to 23,464 between 2021 and 2024, a 2.3% change. About 39.9% of households rent today, against 42.1% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 49% to 51.5%.

Community

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Local insights

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About renting in ZIP 38119

Last updated: July 20, 2026

ZIP code 38119 covers Memphis, TN. The median rent here is $1,651/mo as of July 2026. A 1-bedroom rents for a median of $1,310/mo. A 2-bedroom rents for a median of $1,450/mo.

At 22% of local median household income ($89,289/yr), ZIP 38119 ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.4% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38119?

As of July 20, 2026, the median monthly rent in ZIP 38119 (Memphis, TN) is $1,651. This is based on aggregated data from public sources and community submissions.

How does ZIP 38119 rent compare to the US average?

ZIP 38119's median rent of $1,651/mo is $314 (16%) below the US national median of $1,965/mo.

How does ZIP 38119 compare to other ZIPs in Tennessee?

ZIP 38119 falls in the middle range for Tennessee, ranking #71 out of 145 ZIPs at $1,651/mo.

How much income do you need to rent in ZIP 38119?

To keep rent at or below 30% of gross income, you would need to earn at least $66,000/year (~$32/hour full-time) to afford the median rent of $1,651/mo in ZIP 38119. The local median household income is $89,289/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 38119?

Rent in ZIP 38119 has increased 6.4% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 38119 an affordable place to rent?

ZIP 38119 is considered very affordable for renters. At $1,651/mo, rent takes approximately 22% of the local median household income ($89,289/yr). The standard benchmark is 30%. ZIP 38119 falls comfortably within that range.

What percentage of ZIP 38119 residents rent vs. own?

According to Census data, approximately 39.9% of ZIP 38119 households are renters, while 60.1% are owner-occupied. ZIP 38119 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 38119 compare to the rest of Memphis?

ZIP 38119 is pricier than Memphis as a whole. At $1,651/mo, it's $371 above the Memphis citywide median of $1,280/mo.

When was rent data for ZIP 38119 last updated?

Rent data for ZIP 38119 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
22%
VERY AFFORDABLE

At $1,651/mo, rent takes ~22% of ZIP 38119's median household income ($89,289/yr). The standard benchmark is 30%.

ZIP 38119 22%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 38119 (Memphis, TN)

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