Normal Station, Memphis, TN—38111
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Normal Station, Memphis, TN
As of Oct '25, the median home price in Normal Station, Memphis, TN is $130,000, with a year-over-year change of -3.0%. This indicates that home prices in Normal Station, Memphis, TN are decreasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $130,000 | -3.0% |
| Single Family | $129,000 | -2.3% |
| Condos | $170,000 | -4.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $83,000 | -7.8% |
2 Bed | $99,000 | -3.9% |
3 Bed | $137,000 | -2.1% |
4 Bed | $276,000 | -1.4% |
| 5 Bed | $732,000 | -2.8% |
% of Housing Stock
Rental Trends — Normal Station, Memphis, TN
As of July '25, Rentcast reports the average rent in Normal Station, Memphis, TN is $1,310, with a year-over-year rent change of -0.8%. Per bedroom, the median rent as of July '25 in Normal Station, Memphis, TN is studios: $788, 1-bedrooms: $806, 2-bedrooms: $1,040, 3-bedrooms: $1,480, 4-bedrooms: $1,940. The most common rental property sizes in Normal Station, Memphis, TN are 2-bedroom and 3-bedroom, accounting for 50.5% and 23.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,310 |
| Studio Rent | $775 | $788 |
| 1 Bed Rent | $800 | $806 |
| 2 Bed Rent | $1,020 | $1,040 |
| 3 Bed Rent | $1,420 | $1,480 |
| 4 Bed Rent | $1,600 | $1,940 |
% of Rental Stock
Property Listings — Normal Station, Memphis, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Normal Station, Memphis, TN is 62. This is a increase of 8.0% 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 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $222,000 | -1.0% |
Listing Count | 247 | 3.0% |
| Listings as % of Homes | 0.6% | 3.0% |
Days on Market | 62 | 8.0% |
Demographics — Normal Station, Memphis, TN
As of the latest ACS Survey released in 2023, Normal Station, Memphis, TN has a population of 43,300, which has remained stable by -0.6% over the past 5 years. Normal Station, Memphis, TN is a moderately popular place for families, as children make up 22.0% of the population. The area has a moderately educated workforce, with 37.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,300 | -0.6% |
% Under 18 | 22.0% | -2.7% |
% Seniors | 14.0% | 4.5% |
% WFH | 8.2% | 173.3% |
% w/ College Degree | 37.8% | 17.4% |
As of the latest ACS Survey released in 2023, Normal Station, Memphis, TN is a predominantly black area, with 48.6% of the population identifying as black. The black population has shrunk by 0.2% in the last 5 years. The second most common race or ethnicity in Normal Station, Memphis, TN is white, making up 33.3% of the population. Foreign-born residents account for 9.1% of the population in Normal Station, Memphis, TN, and this percentage has increased by 44.4% 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 | 33.3% | -17.4% |
% Black | 48.6% | -0.2% |
% Hispanic | 12.7% | 67.1% |
% Asian | 2.6% | 85.7% |
% Foreign Born | 9.1% | 44.4% |
Mortgage and Risk — Normal Station, Memphis, TN
According to HUD data as of 2023, there were 505 mortgage originations in Normal Station, Memphis, TN, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Normal Station, Memphis, TN. Investor activity is low, as 11.0% 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 | 505 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 11.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Normal Station, Memphis, TN
As of 2024, the percent of homes in Normal Station, Memphis, TN under the Section 8 program is 9.5%. 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 Normal Station, 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 | 917 |
Total Units Section 8 | 917 |
% Rentals under Section 8 | 9.5% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $340 | $800 | $1,140 |
| 2 Bedroom | $260 | $1,020 | $1,280 |
| 3 Bedroom | $260 | $1,420 | $1,680 |
| 4 Bedroom | $370 | $1,600 | $1,970 |
Affordability — Normal Station, Memphis, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $130,000 |
| Median Household Income | $52,800 |