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  5. /Cordova, Memphis, TN - 38018

Cordova, Memphis, TN—38018

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$291,000
2.7% YoY Growth
Household Income
$89,600
27.7% YoY Growth
Days on Market
52
12.0% Longer YoY
Home Price Forecast
-0.1%
Median Rent
$1,820
1.0% YoY Growth
1-Bed Rent
$1,150
20.1% YoY Growth
2-Bed Rent
$1,450
10.7% YoY Growth
3-Bed Rent
$1,800
1.1% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Cordova, Memphis, TN

As of May '26, the median home price in Cordova, Memphis, TN is $291,000, with a year-over-year change of -2.7%. 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 TypeMedian Home ValueYoY % Change
All Homes
$291,000-2.7%
Single Family $293,000-2.7%
Condos $248,000-2.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$189,000-2.6%
    3 Bed
    		$255,000-1.9%
    4 Bed
    		$342,000-2.6%
    5 Bed $438,031-2.7%
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    % of Housing Stock

    Studio
    0.1%
    1 Bedroom
    5.6%
    2 Bedrooms
    14.0%
    3 Bedrooms
    52.7%
    4 Bedrooms
    19.4%
    5+ Bedrooms
    8.1%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    0.4%
    1 Bedroom
    13.6%
    2 Bedrooms
    29.4%
    3 Bedrooms
    50.5%
    4 Bedrooms
    5.7%
    5+ Bedrooms
    0.4%

    Property Listings — Cordova, Memphis, TN

    As of May '26, Realtor.com reports that the median days on market for a home in Cordova, Memphis, TN is 52. This is a increase of 12.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$349,000-9.0%
    Listing Count
    		20524.0%
    Listings as % of Homes0.8%24.0%
    Days on Market
    		5212.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		38,4003.1%
    % Under 18
    		24.4%-5.4%
    % Seniors
    		13.1%10.1%
    % WFH
    		11.6%222.2%
    % w/ College Degree
    		46.2%5.7%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio3.4
    Median Home Price$291,000
    Median Household Income$89,600

    Cordova, Memphis, TN — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    38016

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    Frequently Asked Questions