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ZIP Code · TN

ZIP 38127

Part of Memphis, TN
Pop. 39,541·Shelby County·135th most expensive ZIP in Tennessee
Median rent (all units)
$1,085/mo
Year-over-Year
+2.8%
Month-over-Month
+0.2%
vs US Median
-$880
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 38127 · $1,085
More affordable than 96% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$990
1 BR
$1,080
2 BR
$1,190
3 BR
$1,570
4 BR+
$1,830
Research median
$1,190/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
$13,020/yr
At $1,085/mo median
Location
StateTN
CountyShelby County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (2.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+2.8% YoY, +0.2% MoM), not inventory.
Demographics

Who lives here

ZIP 38127 (Memphis, TN) is majority renter-occupied, has a large share of families with children, has a median income below the national average, 11% of residents hold a bachelor's degree or higher.

Population
39,541
Median income
$36,901
Median age
30.9
Renters
57.8%
Age distribution
33.6%
21.9%
22.5%
Under 1833.6%
18–3421.9%
35–5422.5%
55–6410.1%
65+11.9%
Gender
43.3%
56.7%
Male43.3%
Female56.7%
Race & ethnicity
87.3%
White8.7%
Black87.3%
Hispanic2.9%
Other0.8%
Education (25+)
15.9%
42%
31.1%
No HS diploma15.9%
HS diploma42%
Some college31.1%
Bachelor's+11%
Housing tenure
42.2%
57.8%
Owner42.2%
Renter57.8%

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

2021 vs 2026

How ZIP 38127 in Memphis, TN has changed in 5 years

Rent
$793 → $1,085
up 36.8%
Income
$32,933 → $36,901
up 12.0%
Population
40,820 → 39,541
down 3.1%
Renter share
51.9% → 57.8%
+5.9 pts
Bachelor's+
9.8% → 11%
+1.2 pts

Five years ago, renters in ZIP 38127 in Memphis, TN paid around $793 a month. That figure now sits near $1,085, up 36.8% from the 2021 baseline. Household income in the area moved from $32,933 to $36,901 across the same window, up 12.0% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 38127 in Memphis, TN losing about 1,279 residents over the five-year window, down 3.1% on net. The renter share has risen from 51.9% to 57.8%, with owner-occupied housing accounting for the remainder. Reading these numbers side by side helps frame whether current listings in ZIP 38127 in Memphis, TN look reasonable against where the market sat half a decade ago.

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Local insights

Tips for renters in ZIP 38127

About renting in ZIP 38127

Last updated: July 20, 2026

ZIP code 38127 covers Memphis, TN. The median rent here is $1,085/mo as of July 2026. A 1-bedroom rents for a median of $1,080/mo. A 2-bedroom rents for a median of $1,190/mo.

At 35% of local median household income ($36,901/yr), ZIP 38127 ranks as moderate compared to the national benchmark of 30%. Rents have increased 2.8% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38127?

As of July 20, 2026, the median monthly rent in ZIP 38127 (Memphis, TN) is $1,085. This is based on aggregated data from public sources and community submissions.

How does ZIP 38127 rent compare to the US average?

ZIP 38127's median rent of $1,085/mo is $880 (45%) below the US national median of $1,965/mo.

How does ZIP 38127 compare to other ZIPs in Tennessee?

ZIP 38127 is among the more affordable ZIP codes in Tennessee, ranking #135 out of 145 ZIPs at $1,085/mo.

How much income do you need to rent in ZIP 38127?

To keep rent at or below 30% of gross income, you would need to earn at least $43,000/year (~$21/hour full-time) to afford the median rent of $1,085/mo in ZIP 38127. The local median household income is $36,901/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 38127?

Rent in ZIP 38127 has increased 2.8% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 38127 an affordable place to rent?

ZIP 38127 is considered moderate for renters. At $1,085/mo, rent takes approximately 35% of the local median household income ($36,901/yr). The standard benchmark is 30%. ZIP 38127 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 38127 residents rent vs. own?

According to Census data, approximately 57.8% of ZIP 38127 households are renters, while 42.2% are owner-occupied. With a majority renter population, ZIP 38127 has a strong rental market.

How does ZIP 38127 compare to the rest of Memphis?

ZIP 38127 is more affordable than Memphis overall. At $1,085/mo, it's $195 below the Memphis citywide median of $1,280/mo.

When was rent data for ZIP 38127 last updated?

Rent data for ZIP 38127 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
35%
MODERATE

At $1,085/mo, rent takes ~35% of ZIP 38127's median household income ($36,901/yr). The standard benchmark is 30%.

ZIP 38127 35%Benchmark 30%
State income taxNone
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Schools nearby

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