Interested in purchasing investment houses in the 38107 zip code in Memphis, TN?
The zip code 38107 is in Shelby county with a latitude of -90.023710000000 and longitude of 35.170160000000, is in the state of Tennessee. The average asking price of houses and condos is $84,008.00 and the average sale price was $67,276.00. this regions is classified as the Memphis metro area and is in the 901 area code. The location in degrees is 35° 10' 12.576" N, 90° 1' 25.356" W. The county F.I.P.S. is 47157. The total land area is 5.4 square miles and the water area is 0.1 square miles. The elevation in this area is 236 - 262 feet. The zip code is on central standard time and observes daylight savings time.
The zip 38107 is in county number 157 and is L. Sector 00, L. Segment 67, H. Sector 44, and H. Segment 44. The population was 15,956 in 2019 and 17,698 in 2010. This further breaks down to 7,133 males (44.7%) and 8,823 females (55.3%). The median age of residents is 39.6 years. The population of the greater Memphis, TN-MS-AR area is 1,325,833. The population density (people per square mile) is 2,955. This zip code has a combined total of 8,481 houses and condos. There are 3,701 rented appartments. 55% of residents rent versus the 55% of residents in the state who rent.
The financial status of those living in this area is considered lower middle class. The average individual gross adjusted income is $27,344 and the average salary is $25,800. The median household income of individuals is $26,390.00 and the average is $33,710.00. This zip code has a mean commute time to work of 21.7 minutes. The unemployment rate is 11.7%. Income earners by percent breakdown as 74.60% (Under $50,000), 18.50% ($50,000-$100,000), and 7.00% earn over $100,000. 29.1% of residents live below poverty line versus the 13.9% in the state that are below this line. The cost of living index is 85.4. The educational breakdown is 80.1% have a high school education or higher, 22.4% have a bachelor's degree or higher, and 8.3% have some kind of profesional degree.
This area has 6,922 households and the average size is 2.3 people. Individuals who are single and have never been married are 50.6%, 24.7% are now married, 4.6% are separated, 8.3% are widowed, and 11.9% are divorced. The average yearly contribution amount given by people to charity was $4,761 versus the state average of $6,709. The percent of residents who gave to charity was 12.9%.
The estimated median value of houses and condos is $97,195. The median monthly owner costs of mortgage holders was $1,108, where as the costs for those who don't have a mortgage are $389. The median number of rooms in houses and condos are 6.2 versus apartments which had a median number of 4.7.
The real estate tax percent rate is 1.4% which equated to an average real estate tax amount payment of $1,401. In comparision, the average real estate tax percent rate in the state is 0.6% which equated to an average real estate tax amount payment in the state of $1,220. The median housing property tax percent for residents with mortgages was 1.5% which amounted to an average tax amount of $1,853. Conversely, the median housing property tax percent for residents who don't have mortgages was 1.4% which amounted to an average tax amount of $950. Reported taxable interest for persons was $498, dividends $3,058, capital gains +$579, and itemized deductions $16,088. The average earned income tax credit is $3,020. The percent of individuals that use a tax preparer is 49.4%. The total average income taxes paid by individuals was $3,864. Businesses reported an average profit of $5,352.
Dino's Grill
645 N Mclean Blvd, Memphis, TN 38107
South of Beale
361 S Main St, Memphis, TN 38103 (3.1 miles away)
Tsunami
928 S Cooper St, Memphis, TN 38104 (3.5 miles away)
Lenny's Sub Shop #11
4970 Raleigh Lagrange Rd, Memphis, TN 38128 (5.2 miles away)
Mortimers
590 N Perkins Rd, Memphis, TN 38122 (5.6 miles away)
Rafferty's
4542 Poplar Ave, Memphis, TN 38117 (8.2 miles away)
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