Cordova, Memphis, TN—38018
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cordova, Memphis, TN
As of Oct '25, the median home price in Cordova, Memphis, TN is $290,000, with a year-over-year change of -2.2%. This indicates that home prices in Cordova, Memphis, TN are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $290,000 | -2.2% |
| Single Family | $292,000 | -2.3% |
| Condos | $248,000 | -1.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $190,000 | -3.1% |
3 Bed | $254,000 | -2.3% |
4 Bed | $342,000 | -1.7% |
| 5 Bed | $434,000 | -2.3% |
% of Housing Stock
Rental Trends — Cordova, Memphis, TN
As of July '25, Rentcast reports the average rent in Cordova, Memphis, TN is $1,890, with a year-over-year rent change of -1.0%. Per bedroom, the median rent as of July '25 in Cordova, Memphis, TN is studios: $1,150, 1-bedrooms: $1,140, 2-bedrooms: $1,450, 3-bedrooms: $1,830, 4-bedrooms: $2,110. The most common rental property sizes in Cordova, Memphis, TN are 3-bedroom and 2-bedroom, accounting for 50.5% and 29.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,820 | $1,890 |
| Studio Rent | $1,150 | $1,150 |
| 1 Bed Rent | $1,150 | $1,140 |
| 2 Bed Rent | $1,450 | $1,450 |
| 3 Bed Rent | $1,800 | $1,830 |
| 4 Bed Rent | $2,100 | $2,110 |
% of Rental Stock
Property Listings — Cordova, Memphis, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Cordova, Memphis, TN is 61. This is a increase of 13.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $350,000 | -2.0% |
Listing Count | 173 | 8.0% |
| Listings as % of Homes | 0.8% | 8.0% |
Days on Market | 61 | 13.0% |
Demographics — Cordova, Memphis, TN
As of the latest ACS Survey released in 2023, Cordova, Memphis, TN has a population of 38,400, which has increased by 3.1% over the past 5 years. Cordova, Memphis, TN is a moderately popular place for families, as children make up 24.4% of the population. The area has a highly educated workforce, with 46.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 38,400 | 3.1% |
% Under 18 | 24.4% | -5.4% |
% Seniors | 13.1% | 10.1% |
% WFH | 11.6% | 222.2% |
% w/ College Degree | 46.2% | 5.7% |
As of the latest ACS Survey released in 2023, Cordova, Memphis, TN is a predominantly black area, with 47.3% of the population identifying as black. The black population has grown by 25.8% in the last 5 years. The second most common race or ethnicity in Cordova, Memphis, TN is white, making up 36.7% of the population. Foreign-born residents account for 9.0% of the population in Cordova, Memphis, TN, and this percentage has decreased by 7.2% 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 | 36.7% | -23.1% |
% Black | 47.3% | 25.8% |
% Hispanic | 8.2% | 39.0% |
% Asian | 4.5% | -15.1% |
% Foreign Born | 9.0% | -7.2% |
Mortgage and Risk — Cordova, Memphis, TN
According to HUD data as of 2023, there were 221 mortgage originations in Cordova, Memphis, TN, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Cordova, Memphis, TN. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 221 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Cordova, Memphis, TN
As of 2024, the percent of homes in Cordova, Memphis, TN under the Section 8 program is 0.6%. 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 Cordova, 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 | 36 |
Total Units Section 8 | 36 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $510 | $1,150 | $1,660 |
| 2 Bedroom | $410 | $1,450 | $1,860 |
| 3 Bedroom | $640 | $1,800 | $2,440 |
| 4 Bedroom | $760 | $2,100 | $2,860 |
Affordability — Cordova, Memphis, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $290,000 |
| Median Household Income | $89,600 |