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Affordable
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These days, finding an affordable place to live in the 38116 area can be challenging. Home prices in 38116 are now at a median cost of $140,369, lower than the Tennessee average of $315,131.
The average cost of rent is $1,146/mo in 38116, primarily driven by the current value of real estate in the 38116 area. In 38116, 56.90% of households rent, and 49.83% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 38116 is $3,832 per month. Households that rent pay about 29.90% of their income on rent here. 38116’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northern parts of the zip.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Zip Codes
- 38131, TN: less expensive homes
- 38132, TN: less expensive homes
- 38109, TN: less expensive homes
- 38671, MS: higher priced homes
- 38114, TN: less expensive homes
- 38106, TN: less expensive homes
- 38118, TN: less expensive homes
- 38637, MS: higher priced homes
- 38111, TN: higher priced homes
- 38126, TN: less expensive homes
Zip Codes with Similar Populations
- 48060, MI: higher priced homes
- 95826, CA: higher priced homes
- 44118, OH: higher priced homes
- 44134, OH: higher priced homes
- 95695, CA: higher priced homes
- 95691, CA: higher priced homes
- 45385, OH: higher priced homes
- 95688, CA: higher priced homes
- 46123, IN: higher priced homes
- 95382, CA: higher priced homes
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