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  5. /Oakhaven, Memphis, TN - 38118

Oakhaven, Memphis, TN—38118

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$124,000
0.4% YoY Growth
Household Income
$42,500
26.7% YoY Growth
Days on Market
71
42.0% Longer YoY
Home Price Forecast
-0.5%
Median Rent
$1,250
1.6% YoY Growth
1-Bed Rent
$749
1.5% YoY Growth
2-Bed Rent
$850
3.5% YoY Growth
3-Bed Rent
$1,260
0.0% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Oakhaven, Memphis, TN

As of May '26, the median home price in Oakhaven, Memphis, TN is $124,000, with a year-over-year change of -0.4%. This indicates that home prices in Oakhaven, Memphis, TN are flat. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$124,000-0.4%
Single Family $126,0000.0%
Condos $46,000-17.9%

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
    		$79,0001.3%
    3 Bed
    		$123,0000.0%
    4 Bed
    		$146,000-2.7%
    5 Bed $165,314-3.8%
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    % of Housing Stock

    Studio
    2.5%
    1 Bedroom
    9.6%
    2 Bedrooms
    28.5%
    3 Bedrooms
    51.4%
    4 Bedrooms
    7.0%
    5+ Bedrooms
    0.9%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    2.6%
    1 Bedroom
    14.0%
    2 Bedrooms
    31.3%
    3 Bedrooms
    47.6%
    4 Bedrooms
    3.7%
    5+ Bedrooms
    0.8%

    Property Listings — Oakhaven, Memphis, TN

    As of May '26, Realtor.com reports that the median days on market for a home in Oakhaven, Memphis, TN is 71. This is a increase of 42.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$135,000-2.0%
    Listing Count
    		9353.0%
    Listings as % of Homes0.3%53.0%
    Days on Market
    		7142.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		39,2001.3%
    % Under 18
    		33.7%5.6%
    % Seniors
    		8.5%16.4%
    % WFH
    		4.7%176.5%
    % w/ College Degree
    		11.8%3.5%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio3.1
    Median Home Price$124,000
    Median Household Income$42,500

    Oakhaven, Memphis, TN — ZIP Code Boundary Map

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    Frequently Asked Questions