North Memphis, Memphis, TN—38107
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — North Memphis, Memphis, TN
As of Oct '25, the median home price in North Memphis, Memphis, TN is $106,000, with a year-over-year change of -2.1%. This indicates that home prices in North Memphis, Memphis, TN are decreasing. According to Zillow, the 1-year price projection is -0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $106,000 | -2.1% |
| Single Family | $104,000 | -1.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $78,000 | -1.3% |
3 Bed | $118,000 | -2.5% |
4 Bed | $134,000 | -3.6% |
| 5 Bed | $165,000 | -4.6% |
% of Housing Stock
Rental Trends — North Memphis, Memphis, TN
As of July '25, Rentcast reports the average rent in North Memphis, Memphis, TN is $1,220, with a year-over-year rent change of 7.0%. Per bedroom, the median rent as of July '25 in North Memphis, Memphis, TN is studios: $2,000, 1-bedrooms: $781, 2-bedrooms: $1,090, 3-bedrooms: $1,400, 4-bedrooms: $1,670. The most common rental property sizes in North Memphis, Memphis, TN are 2-bedroom and 3-bedroom, accounting for 42.4% and 28.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,220 |
| Studio Rent | $2,000 | $2,000 |
| 1 Bed Rent | $700 | $781 |
| 2 Bed Rent | $940 | $1,090 |
| 3 Bed Rent | $1,400 | $1,400 |
| 4 Bed Rent | $1,750 | $1,670 |
% of Rental Stock
Property Listings — North Memphis, Memphis, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in North Memphis, Memphis, TN is 86. This is a increase of 57.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $181,000 | -14.0% |
Listing Count | 115 | 16.0% |
| Listings as % of Homes | 0.7% | 16.0% |
Days on Market | 86 | 57.0% |
Demographics — North Memphis, Memphis, TN
As of the latest ACS Survey released in 2023, North Memphis, Memphis, TN has a population of 14,300, which has decreased by -11.6% over the past 5 years. North Memphis, Memphis, TN is a moderately popular place for families, as children make up 21.7% of the population. The area has a poorly educated workforce, with 24.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,300 | -11.6% |
% Under 18 | 21.7% | -6.5% |
% Seniors | 14.4% | 8.3% |
% WFH | 8.4% | 200.0% |
% w/ College Degree | 24.0% | 13.2% |
As of the latest ACS Survey released in 2023, North Memphis, Memphis, TN is a predominantly black area, with 76.1% of the population identifying as black. The black population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in North Memphis, Memphis, TN is white, making up 18.3% of the population. Foreign-born residents account for 1.0% of the population in North Memphis, Memphis, TN, and this percentage has decreased by 54.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 18.3% | 2.8% |
% Black | 76.1% | -1.8% |
% Hispanic | 4.5% | 275.0% |
% Asian | 0.3% | -82.4% |
% Foreign Born | 1.0% | -54.5% |
Mortgage and Risk — North Memphis, Memphis, TN
According to HUD data as of 2023, there were 129 mortgage originations in North Memphis, Memphis, TN, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in North Memphis, Memphis, TN. Investor activity is low, as 12.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 129 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 12.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — North Memphis, Memphis, TN
As of 2024, the percent of homes in North Memphis, Memphis, TN under the Section 8 program is 15.6%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In North Memphis, Memphis, TN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 760 |
Total Units Section 8 | 651 |
% Rentals under Section 8 | 15.6% |
% Occupied Section 8 | 88.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $340 | $700 | $1,040 |
| 2 Bedroom | $230 | $940 | $1,170 |
| 3 Bedroom | $140 | $1,400 | $1,540 |
| 4 Bedroom | $50 | $1,750 | $1,800 |
Affordability — North Memphis, Memphis, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $106,000 |
| Median Household Income | $36,400 |