ZIP 38125
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in ZIP 38125 usually run 1% below trend in February and 0.9% above it in May, about $29 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 38125 is at its highest level since Zillow's records here began in May 2015.
Rent in ZIP 38125 changed +3.8% over the year to September 2026. Across the 127 Tennessee ZIP codes Zillow tracks, the typical change was +1.8%.
From 2019 to 2024, rent in ZIP 38125 rose 38.3% while median household income rose 31.1% ($65,735 to $86,162). Rent outpaced income.
Rent in ZIP 38125 is 38.7% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 6 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($86,162) is $2,154 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,050); a 4-bedroom is $2,380.
18th cheapest of 22 ZIP codes in Memphis.
ZIP 38115, 5 miles away, rents for 32% less ($1,029/mo), about $5,800 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 38125. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 38125 (Memphis, TN) is roughly split between renters and owners, 34% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 38125 in Memphis, TN has changed in 5 years
Five years ago, renters in ZIP 38125 in Memphis, TN paid around $1,242 a month. That figure now sits near $1,516, up 22.1% from the 2021 baseline. Census figures show median household income at $86,162 today, compared with $74,425 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. The renter share has risen from 41.8% to 46.5%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 38.4% to 34% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
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Tips for renters in ZIP 38125
Last updated: October 17, 2026
ZIP code 38125 covers Memphis, TN. The median rent here is $1,516/mo as of October 2026. A 1-bedroom rents for a median of $1,400/mo. A 2-bedroom rents for a median of $1,550/mo.
At 21% of local median household income ($86,162/yr), ZIP 38125 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.8% over the past year.
Frequently asked questions
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How does ZIP 38125 compare to other ZIPs in Tennessee?
How does ZIP 38125 compare to the rest of Memphis?
At $1,516/mo, rent takes ~21% of ZIP 38125's median household income ($86,162/yr). The standard benchmark is 30%.
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