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These days, finding an affordable place to live in the 38118 area can be challenging. Home prices in 38118 are now at a median cost of $106,206, lower than the Tennessee average of $315,131.
The average cost of rent is $1,281/mo in 38118, primarily driven by the current value of real estate in the 38118 area. In 38118, 60.12% of households rent, and 47.58% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 38118 is $3,907 per month. Households that rent pay about 32.79% of their income on rent here. 38118’s most expensive areas are in the southern regions, while the cheapest areas are in the northwestern 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
- 38115, TN: higher priced homes
- 38111, TN: higher priced homes
- 38132, TN: equally priced homes
- 38131, TN: equally priced homes
- 38117, TN: higher priced homes
- 38114, TN: equally priced homes
- 38141, TN: higher priced homes
- 38152, TN: higher priced homes
- 38119, TN: higher priced homes
- 38116, TN: higher priced homes
Zip Codes with Similar Populations
- 48198, MI: higher priced homes
- 11358, NY: higher priced homes
- 78028, TX: higher priced homes
- 77377, TX: higher priced homes
- 48146, MI: higher priced homes
- 30815, GA: higher priced homes
- 30328, GA: higher priced homes
- 76706, TX: higher priced homes
- 20743, MD: higher priced homes
- 20747, MD: higher priced homes
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