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ZIP Code · TN

ZIP 38141

Part of Memphis, TN
Pop. 23,952·Shelby County·76th most expensive ZIP in Tennessee
Median rent (all units)
$1,607/mo
Year-over-Year
+3.1%
Month-over-Month
+2.7%
vs US Median
-$358
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 38141 · $1,607
More affordable than 66% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,280
1 BR
$1,400
2 BR
$1,540
3 BR
$2,030
4 BR+
$2,370
Research median
$1,540/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
$19,284/yr
At $1,607/mo median
Location
StateTN
CountyShelby County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 3.1% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+3.1% YoY, +2.7% MoM), not inventory.
Demographics

Who lives here

ZIP 38141 (Memphis, TN) is majority owner-occupied, has a large share of families with children, has a median income below the national average, 16.6% of residents hold a bachelor's degree or higher.

Population
23,952
Median income
$60,817
Median age
31
Renters
43.7%
Age distribution
32.5%
23.1%
25%
Under 1832.5%
18–3423.1%
35–5425%
55–6411.1%
65+8.3%
Gender
42.6%
57.4%
Male42.6%
Female57.4%
Race & ethnicity
85.4%
White5.8%
Black85.4%
Hispanic9.1%
Education (25+)
37.3%
36.4%
16.6%
No HS diploma9.8%
HS diploma37.3%
Some college36.4%
Bachelor's+16.6%
Housing tenure
56.3%
43.7%
Owner56.3%
Renter43.7%

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

2021 vs 2026

How ZIP 38141 in Memphis, TN has changed in 5 years

Income
$57,393 → $60,817
up 6.0%
Population
23,299 → 23,952
up 2.8%
Renter share
34.8% → 43.7%
+8.9 pts
Bachelor's+
16.7% → 16.6%
-0.1 pts
Median age
32.1 → 31
-1.1 yrs

Household income in the area moved from $57,393 to $60,817 across the same window, up 6.0% versus 2021. Headcount in the area went from 23,299 to 23,952 between 2021 and 2024, a 2.8% change. About 43.7% of households rent today, against 34.8% in 2021.

Community

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Local insights

Tips for renters in ZIP 38141

About renting in ZIP 38141

Last updated: July 20, 2026

ZIP code 38141 covers Memphis, TN. The median rent here is $1,607/mo as of July 2026. A 1-bedroom rents for a median of $1,400/mo. A 2-bedroom rents for a median of $1,540/mo.

At 32% of local median household income ($60,817/yr), ZIP 38141 ranks as moderate compared to the national benchmark of 30%. Rents have increased 3.1% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38141?

As of July 20, 2026, the median monthly rent in ZIP 38141 (Memphis, TN) is $1,607. This is based on aggregated data from public sources and community submissions.

How does ZIP 38141 rent compare to the US average?

ZIP 38141's median rent of $1,607/mo is $358 (18%) below the US national median of $1,965/mo.

How does ZIP 38141 compare to other ZIPs in Tennessee?

ZIP 38141 falls in the middle range for Tennessee, ranking #76 out of 145 ZIPs at $1,607/mo.

How much income do you need to rent in ZIP 38141?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (~$31/hour full-time) to afford the median rent of $1,607/mo in ZIP 38141. The local median household income is $60,817/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 38141?

Rent in ZIP 38141 has increased 3.1% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 38141 an affordable place to rent?

ZIP 38141 is considered moderate for renters. At $1,607/mo, rent takes approximately 32% of the local median household income ($60,817/yr). The standard benchmark is 30%. ZIP 38141 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 38141 residents rent vs. own?

According to Census data, approximately 43.7% of ZIP 38141 households are renters, while 56.3% are owner-occupied. ZIP 38141 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 38141 compare to the rest of Memphis?

ZIP 38141 is pricier than Memphis as a whole. At $1,607/mo, it's $327 above the Memphis citywide median of $1,280/mo.

When was rent data for ZIP 38141 last updated?

Rent data for ZIP 38141 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
32%
MODERATE

At $1,607/mo, rent takes ~32% of ZIP 38141's median household income ($60,817/yr). The standard benchmark is 30%.

ZIP 38141 32%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 38141 (Memphis, TN)

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