Hyde Park, Memphis, TN—38108
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hyde Park, Memphis, TN
As of Oct '25, the median home price in Hyde Park, Memphis, TN is $71,000, with a year-over-year change of -5.1%. This indicates that home prices in Hyde Park, Memphis, TN are decreasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $71,000 | -5.1% |
| Single Family | $71,000 | -6.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $58,000 | -7.9% |
3 Bed | $83,000 | -4.6% |
4 Bed | $85,000 | -5.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hyde Park, Memphis, TN
As of July '25, Rentcast reports the average rent in Hyde Park, Memphis, TN is $1,000, with a year-over-year rent change of -1.0%. Per bedroom, the median rent as of July '25 in Hyde Park, Memphis, TN is 1-bedrooms: $642, 2-bedrooms: $858, 3-bedrooms: $1,220, 4-bedrooms: $1,390. The most common rental property sizes in Hyde Park, Memphis, TN are 3-bedroom and 2-bedroom, accounting for 36.1% and 32.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,000 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $575 | $642 |
| 2 Bed Rent | $850 | $858 |
| 3 Bed Rent | $1,200 | $1,220 |
| 4 Bed Rent | $1,420 | $1,390 |
% of Rental Stock
Property Listings — Hyde Park, Memphis, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Hyde Park, Memphis, TN is 70. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $92,800 | 3.0% |
Listing Count | 71 | 10.0% |
| Listings as % of Homes | 0.7% | 10.0% |
Days on Market | 70 | -7.0% |
Demographics — Hyde Park, Memphis, TN
As of the latest ACS Survey released in 2023, Hyde Park, Memphis, TN has a population of 18,500, which has increased by 3.4% over the past 5 years. Hyde Park, Memphis, TN is a popular place for families, as children make up 30.6% of the population. The area has a poorly educated workforce, with 10.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,500 | 3.4% |
% Under 18 | 30.6% | 3.0% |
% Seniors | 13.8% | 6.2% |
% WFH | 2.1% | 61.5% |
% w/ College Degree | 10.6% | 65.6% |
As of the latest ACS Survey released in 2023, Hyde Park, Memphis, TN is a predominantly black area, with 51.9% of the population identifying as black. The black population has shrunk by 18.7% in the last 5 years. The second most common race or ethnicity in Hyde Park, Memphis, TN is hispanic, making up 30.3% of the population. Foreign-born residents account for 15.1% of the population in Hyde Park, Memphis, TN, and this percentage has increased by 13.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 16.6% | 19.4% |
% Black | 51.9% | -18.7% |
% Hispanic | 30.3% | 37.1% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 15.1% | 13.5% |
Mortgage and Risk — Hyde Park, Memphis, TN
According to HUD data as of 2023, there were 60 mortgage originations in Hyde Park, Memphis, TN, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Hyde Park, Memphis, TN. Investor activity is high, as 28.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 60 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 28.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Hyde Park, Memphis, TN
As of 2024, the percent of homes in Hyde Park, Memphis, TN under the Section 8 program is 12.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Hyde Park, 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 | 466 |
Total Units Section 8 | 467 |
% Rentals under Section 8 | 12.9% |
% Occupied Section 8 | 85.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $465 | $575 | $1,040 |
| 2 Bedroom | $320 | $850 | $1,170 |
| 3 Bedroom | $340 | $1,200 | $1,540 |
| 4 Bedroom | $380 | $1,420 | $1,800 |
Affordability — Hyde Park, Memphis, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2 |
| Median Home Price | $71,000 |
| Median Household Income | $35,400 |