Downtown South, Memphis, TN—38126
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downtown South, Memphis, TN
As of Oct '25, the median home price in Downtown South, Memphis, TN is $76,000, with a year-over-year change of 6.0%. This indicates that home prices in Downtown South, Memphis, TN are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $76,000 | 6.0% |
| Single Family | $68,000 | 7.9% |
| Condos | $154,000 | 0.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $75,000 | 7.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Downtown South, Memphis, TN
As of July '25, Rentcast reports the average rent in Downtown South, Memphis, TN is $878, with a year-over-year rent change of -23.7%. Per bedroom, the median rent as of July '25 in Downtown South, Memphis, TN is 1-bedrooms: $725, 2-bedrooms: $786, 3-bedrooms: $1,700. The most common rental property sizes in Downtown South, Memphis, TN are 2-bedroom and 1-bedroom, accounting for 45.5% and 33.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $749 | $878 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $725 | $725 |
| 2 Bed Rent | $749 | $786 |
| 3 Bed Rent | $1,700 | $1,700 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Downtown South, Memphis, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Downtown South, Memphis, TN is 59. This is a decrease of -23.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $185,000 | -3.0% |
Listing Count | 16 | 58.0% |
| Listings as % of Homes | 0.4% | 58.0% |
Days on Market | 59 | -23.0% |
Demographics — Downtown South, Memphis, TN
As of the latest ACS Survey released in 2023, Downtown South, Memphis, TN has a population of 5,720, which has decreased by -10.7% over the past 5 years. Downtown South, Memphis, TN is a popular place for families, as children make up 29.4% of the population. The area has a poorly educated workforce, with 13.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,720 | -10.7% |
% Under 18 | 29.4% | -19.5% |
% Seniors | 13.1% | 29.7% |
% WFH | 6.6% | 633.3% |
% w/ College Degree | 13.8% | 360.0% |
As of the latest ACS Survey released in 2023, Downtown South, Memphis, TN is a predominantly black area, with 88.9% of the population identifying as black. The black population has shrunk by 7.7% in the last 5 years. The second most common race or ethnicity in Downtown South, Memphis, TN is white, making up 6.3% of the population. Foreign-born residents account for 2.3% of the population in Downtown South, Memphis, TN, and this percentage has increased by 1050.0% 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 | 6.3% | 133.3% |
% Black | 88.9% | -7.7% |
% Hispanic | 1.6% | 100.0% |
% Asian | 0.1% | -66.7% |
% Foreign Born | 2.3% | 1,050.0% |
Mortgage and Risk — Downtown South, Memphis, TN
According to HUD data as of 2023, there were 7 mortgage originations in Downtown South, Memphis, TN, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 57.0% above 90% LTV (very high). This implies large mortgage risk in Downtown South, Memphis, TN. Investor activity is low, as 14.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 7 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 14.0% |
% Second Loans | 14.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Downtown South, Memphis, TN
Downtown South, Memphis, TN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,285 |
Total Units Section 8 | 1,059 |
% Rentals under Section 8 | 44.0% |
% Occupied Section 8 | 82.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $315 | $725 | $1,040 |
| 2 Bedroom | $421 | $749 | $1,170 |
| 3 Bedroom | -$160 | $1,700 | $1,540 |
| 4 Bedroom | N/A | N/A | $1,800 |
Affordability — Downtown South, Memphis, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $76,000 |
| Median Household Income | $30,800 |