Oakhaven, Memphis, TN—38118
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Oakhaven, Memphis, TN
As of Oct '25, the median home price in Oakhaven, Memphis, TN is $123,000, with a year-over-year change of -0.1%. This indicates that home prices in Oakhaven, Memphis, TN are flat. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $123,000 | -0.1% |
| Single Family | $124,000 | 0.0% |
| Condos | $45,000 | -23.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $77,000 | 1.3% |
3 Bed | $122,000 | 0.0% |
4 Bed | $144,000 | -0.7% |
| 5 Bed | $160,000 | -4.2% |
% of Housing Stock
Rental Trends — Oakhaven, Memphis, TN
As of July '25, Rentcast reports the average rent in Oakhaven, Memphis, TN is $1,230, with a year-over-year rent change of -1.6%. Per bedroom, the median rent as of July '25 in Oakhaven, Memphis, TN is studios: $849, 1-bedrooms: $760, 2-bedrooms: $867, 3-bedrooms: $1,270, 4-bedrooms: $1,430. The most common rental property sizes in Oakhaven, Memphis, TN are 3-bedroom and 2-bedroom, accounting for 47.6% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,230 |
| Studio Rent | $849 | $849 |
| 1 Bed Rent | $749 | $760 |
| 2 Bed Rent | $850 | $867 |
| 3 Bed Rent | $1,260 | $1,270 |
| 4 Bed Rent | $1,400 | $1,430 |
% of Rental Stock
Property Listings — Oakhaven, Memphis, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Oakhaven, Memphis, TN is 60. This is a increase of 33.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $140,000 | -2.0% |
Listing Count | 110 | 34.0% |
| Listings as % of Homes | 0.3% | 34.0% |
Days on Market | 60 | 33.0% |
Demographics — Oakhaven, Memphis, TN
As of the latest ACS Survey released in 2023, Oakhaven, Memphis, TN has a population of 39,200, which has increased by 1.3% over the past 5 years. Oakhaven, Memphis, TN is a popular place for families, as children make up 33.7% of the population. The area has a poorly educated workforce, with 11.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 39,200 | 1.3% |
% Under 18 | 33.7% | 5.6% |
% Seniors | 8.5% | 16.4% |
% WFH | 4.7% | 176.5% |
% w/ College Degree | 11.8% | 3.5% |
As of the latest ACS Survey released in 2023, Oakhaven, Memphis, TN is a predominantly black area, with 73.4% of the population identifying as black. The black population has shrunk by 4.7% in the last 5 years. The second most common race or ethnicity in Oakhaven, Memphis, TN is hispanic, making up 19.6% of the population. Foreign-born residents account for 13.3% of the population in Oakhaven, Memphis, TN, and this percentage has increased by 47.8% 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 | 5.0% | -20.6% |
% Black | 73.4% | -4.7% |
% Hispanic | 19.6% | 37.1% |
% Asian | 0.6% | -64.7% |
% Foreign Born | 13.3% | 47.8% |
Mortgage and Risk — Oakhaven, Memphis, TN
According to HUD data as of 2023, there were 216 mortgage originations in Oakhaven, Memphis, TN, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Oakhaven, Memphis, TN. Investor activity is low, as 13.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 216 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 13.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Oakhaven, Memphis, TN
As of 2024, the percent of homes in Oakhaven, Memphis, TN under the Section 8 program is 8.3%. 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 Oakhaven, 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 | 694 |
Total Units Section 8 | 670 |
% Rentals under Section 8 | 8.3% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $361 | $749 | $1,110 |
| 2 Bedroom | $400 | $850 | $1,250 |
| 3 Bedroom | $380 | $1,260 | $1,640 |
| 4 Bedroom | $520 | $1,400 | $1,920 |
Affordability — Oakhaven, Memphis, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $123,000 |
| Median Household Income | $42,500 |