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These days, finding an affordable place to live in the 38040 area can be challenging. Home prices in 38040 are now at a median cost of $93,379, lower than the Tennessee average of $218,916.
The average cost of rent is $690/mo in 38040, primarily driven by the current value of real estate in the 38040 area. While nearly 50.91% of residents own their homes outright in 38040, 41.20% rent.
Housing affordability isn’t just about home prices, though. The average household income in 38040 is $3,689 per month. Households that rent pay about 18.71% of their income on rent here. 38040's most expensive areas are in the southwestern regions, while the cheapest areas are in the northeastern parts of the zip.
Nearby Zip Codes
- 38037, TN: equally priced homes
- 38034, TN: higher priced homes
- 38070, TN: higher priced homes
- 38063, TN: higher priced homes
- 38050, TN: less expensive homes
- 38021, TN: higher priced homes
- 38001, TN: higher priced homes
- 72310, AR: higher priced homes
- 38006, TN: higher priced homes
- 38337, TN: higher priced homes
Zip Codes with Similar Populations
- 22947, VA: higher priced homes
- 73030, OK: higher priced homes
- 72933, AR: higher priced homes
- 72732, AR: higher priced homes
- 72634, AR: higher priced homes
- 29540, SC: less expensive homes
- 25601, WV: equally priced homes
- 25545, WV: higher priced homes
- 25159, WV: higher priced homes
- 24577, VA: higher priced homes
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