River Oaks, Memphis, TN—38120
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — River Oaks, Memphis, TN
As of Oct '25, the median home price in River Oaks, Memphis, TN is $417,000, with a year-over-year change of 0.3%. This indicates that home prices in River Oaks, Memphis, TN are flat. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $417,000 | 0.3% |
| Single Family | $431,000 | 0.5% |
| Condos | $303,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $89,000 | -11.9% |
2 Bed | $182,000 | -1.6% |
3 Bed | $309,000 | 0.3% |
4 Bed | $497,000 | 0.8% |
| 5 Bed | $745,000 | 0.1% |
% of Housing Stock
Rental Trends — River Oaks, Memphis, TN
As of July '25, Rentcast reports the average rent in River Oaks, Memphis, TN is $2,050, with a year-over-year rent change of 13.9%. Per bedroom, the median rent as of July '25 in River Oaks, Memphis, TN is studios: $1,290, 1-bedrooms: $1,070, 2-bedrooms: $1,160, 3-bedrooms: $1,790, 4-bedrooms: $3,140. The most common rental property sizes in River Oaks, Memphis, TN are 1-bedroom and 2-bedroom, accounting for 30.4% and 26.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,620 | $2,050 |
| Studio Rent | $1,290 | $1,290 |
| 1 Bed Rent | $1,020 | $1,070 |
| 2 Bed Rent | $1,180 | $1,160 |
| 3 Bed Rent | $1,700 | $1,790 |
| 4 Bed Rent | $2,280 | $3,140 |
% of Rental Stock
Property Listings — River Oaks, Memphis, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in River Oaks, Memphis, TN is 66. This is a decrease of -14.0% 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 41.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $501,000 | 2.0% |
Listing Count | 123 | 8.0% |
| Listings as % of Homes | 0.7% | 8.0% |
Days on Market | 66 | -14.0% |
Demographics — River Oaks, Memphis, TN
As of the latest ACS Survey released in 2023, River Oaks, Memphis, TN has a population of 13,200, which has decreased by -9.5% over the past 5 years. River Oaks, Memphis, TN is a moderately popular place for families, as children make up 17.2% of the population. The area has a highly educated workforce, with 70.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,200 | -9.5% |
% Under 18 | 17.2% | -9.5% |
% Seniors | 21.8% | -6.4% |
% WFH | 13.4% | 103.0% |
% w/ College Degree | 70.8% | 5.0% |
As of the latest ACS Survey released in 2023, River Oaks, Memphis, TN is a predominantly white area, with 81.0% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in River Oaks, Memphis, TN is black, making up 7.1% of the population. Foreign-born residents account for 6.0% of the population in River Oaks, Memphis, TN, and this percentage has decreased by 40.0% 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 | 81.0% | -2.6% |
% Black | 7.1% | 54.3% |
% Hispanic | 4.0% | 33.3% |
% Asian | 5.2% | -21.2% |
% Foreign Born | 6.0% | -40.0% |
Mortgage and Risk — River Oaks, Memphis, TN
According to HUD data as of 2023, there were 271 mortgage originations in River Oaks, Memphis, TN, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in River Oaks, Memphis, TN. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 271 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — River Oaks, Memphis, TN
As of 2024, the percent of homes in River Oaks, Memphis, TN under the Section 8 program is 0.1%. 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 River Oaks, 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 | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $480 | $1,020 | $1,500 |
| 2 Bedroom | $500 | $1,180 | $1,680 |
| 3 Bedroom | $510 | $1,700 | $2,210 |
| 4 Bedroom | $310 | $2,280 | $2,590 |
Affordability — River Oaks, Memphis, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $417,000 |
| Median Household Income | $119,000 |