Interested in purchasing investment houses in the 38118 zip code in Memphis, TN?
The zip code 38118 is in Shelby county with a latitude of -89.931530000000 and longitude of 35.035840000000, is in the state of Tennessee. The average asking price of houses and condos is $64,415.00 and the average sale price was $40,945.00. this regions is classified as the Memphis metro area and is in the 901 area code. The location in degrees is 35° 2' 9.024" N, 89° 55' 53.508" W. The county F.I.P.S. is 47157. The total land area is 31.2 square miles and the water area is 0.1 square miles. The elevation in this area is 262 - 338 feet. The zip code is on central standard time and observes daylight savings time.
The zip 38118 is in county number 157 and is L. Sector 02, L. Segment 01, H. Sector 01, and H. Segment 01. The population was 39,595 in 2019 and 41,465 in 2010. Of this, the break down in 2019 was 39,459 urban and 135 rural. This further breaks down to 18,796 males (47.5%) and 20,798 females (52.5%). The median age of residents is 29.8 years. The population of the greater Memphis, TN-MS-AR area is 1,325,833. The population density (people per square mile) is 1,269. This zip code has a combined total of 17,208 houses and condos. There are 7,135 rented appartments. 54% of residents rent versus the 54% 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 $25,515 and the average salary is $24,984. The median household income of individuals is $42,705.00 and the average is $30,460.00. This zip code has a mean commute time to work of 21.5 minutes. The unemployment rate is 9.2%. Income earners by percent breakdown as 59.20% (Under $50,000), 34.30% ($50,000-$100,000), and 6.50% earn over $100,000. 30.6% of residents live below poverty line versus the 13.9% in the state that are below this line. The cost of living index is 84.8. The educational breakdown is 78.4% have a high school education or higher, 11.9% have a bachelor's degree or higher, and 3.2% have some kind of profesional degree.
This area has 13,809 households and the average size is 3.0 people. Individuals who are single and have never been married are 52.4%, 29.9% are now married, 3.6% are separated, 4.3% are widowed, and 9.8% are divorced. The average yearly contribution amount given by people to charity was $5,059 versus the state average of $6,709. The percent of residents who gave to charity was 12.5%.
The estimated median value of houses and condos is $80,941. The median monthly owner costs of mortgage holders was $1,013, where as the costs for those who don't have a mortgage are $389. The median number of rooms in houses and condos are 5.9 versus apartments which had a median number of 4.8.
The real estate tax percent rate is 1.6% which equated to an average real estate tax amount payment of $1,294. 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 1.6% which amounted to an average tax amount of $1,324. Conversely, the median housing property tax percent for residents who don't have mortgages was 1.6% which amounted to an average tax amount of $1,225. Reported taxable interest for persons was $997, dividends $2,580, capital gains +$750, and itemized deductions $16,072. The average earned income tax credit is $3,008. The percent of individuals that use a tax preparer is 56.2%. The total average income taxes paid by individuals was $3,060. Businesses reported an average profit of $4,314.
Yum's Subs
3141 S Perkins Rd, Memphis, TN 38118
D & L's Catfish Shack
3706 S Mendenhall Rd, Memphis, TN 38115 (3.6 miles away)
Rafferty's
4542 Poplar Ave, Memphis, TN 38117 (4.4 miles away)
River Oaks Restaurant
5871 Poplar Ave, Memphis, TN 38119 (4.8 miles away)
Sweet Thangs Custom Creations
5499 Oak Bark Dr, Memphis, TN 38116 (5.1 miles away)
Lone Star Steakhouse
6365 Airways Blvd, Southaven, MS 38671 (6.6 miles away)
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