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These days, finding an affordable place to live in the 38240 area can be challenging. Home prices in 38240 are now at a median cost of $100,544, lower than the Tennessee average of $315,131.
The average cost of rent is $855/mo in 38240, primarily driven by the current value of real estate in the 38240 area. In 38240, 32.68% of households rent, and 61.58% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 38240 is $3,726 per month. Households that rent pay about 22.94% of their income on rent here. 38240’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northeastern 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
- 38259, TN: higher priced homes
- 38232, TN: higher priced homes
- 38260, TN: higher priced homes
- 38254, TN: equally priced homes
- 38059, TN: higher priced homes
- 38007, TN: higher priced homes
- 38080, TN: less expensive homes
- 38253, TN: higher priced homes
- 38077, TN: higher priced homes
- 38233, TN: higher priced homes
Zip Codes with Similar Populations
- 04469, ME: higher priced homes
- 18614, PA: higher priced homes
- 14781, NY: higher priced homes
- 14806, NY: equally priced homes
- 59868, MT: higher priced homes
- 71371, LA: higher priced homes
- 57732, SD: higher priced homes
- 56264, MN: higher priced homes
- 54205, WI: higher priced homes
- 49287, MI: higher priced homes
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