ZIP 38018 - 860Z200US38018 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 38018, located in the vibrant Memphis metro area, understanding the local demographics and housing landscape is essential. This snapshot, based on 2023 data, provides a clear picture of the community’s population, income levels, housing costs, and diversity. Whether you're a homebuyer, real estate investor, small-business owner, or analyst, these insights can help you make informed decisions about living or working in this dynamic area.

Population & Households

ZIP 38018 is home to a substantial population of 38,357 residents, making it a bustling and active community. These individuals are distributed across 14,215 households, reflecting a mix of family sizes and living arrangements. With 15,110 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate availability for new residents or investors looking for opportunities. This balance suggests a stable residential environment with room for growth.

Income & Housing Costs

Financially, ZIP 38018 stands out with a median household income of $89,627, which is notably higher than many surrounding areas. This figure points to a relatively affluent community with strong purchasing power, an important factor for businesses and investors. On the housing front, the median home value is $255,300, offering a range of options for potential buyers looking for mid-range properties. For renters, the median rent is $1,594 per month, reflecting a competitive rental market that aligns with the area’s income levels. These metrics suggest that ZIP 38018 is a place where residents can afford quality housing, whether owning or renting.

Race & Ethnicity

The demographic makeup of ZIP 38018 is notably diverse, fostering a rich cultural environment. The population breakdown by race and ethnicity shows Black residents as the largest group at 47.32%, followed by White residents at 36.72%. Hispanic or Latino individuals account for 8.22% of the population, while Asian residents make up 4.52%. This diversity can be a significant draw for families and businesses seeking an inclusive community with varied perspectives and cultural offerings.

Key Facts

• Total population in ZIP 38018: 38,357 residents, indicating a sizable community.
• Total households: 14,215, with a mix of family and individual living arrangements.
• Total housing units: 15,110, suggesting potential availability for new residents or investors.
• Median household income: $89,627, reflecting strong local earning power.
• Median home value: $255,300, a competitive price point for mid-range buyers.
• Median rent: $1,594, aligning with the area’s income and housing market.
• Diverse population: 47.32% Black, 36.72% White, 8.22% Hispanic, and 4.52% Asian.

What This Means for You

For homebuyers, ZIP 38018 offers a promising mix of affordability and quality. With a median home value of $255,300 and a strong median income of $89,627, you’re likely to find properties that match your budget while living in a financially stable community. The slight surplus of housing units could mean less competition when searching for your ideal home.

For real estate investors and agents, the data points to opportunity. The gap between total housing units (15,110) and occupied households (14,215) suggests potential for rental properties or flips, especially with a median rent of $1,594 attracting reliable tenants. The area’s diversity and income levels also indicate a broad tenant or buyer pool.

For small-business owners, the population of 38,357 and high median income signal a robust customer base with disposable income. The cultural diversity in ZIP 38018 means you can tailor products or services to a wide range of preferences, enhancing your market reach.

For analysts, these metrics provide a solid foundation for deeper research into housing trends, economic stability, or community development in this area, helping to inform broader regional studies or investment strategies.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 38018? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date insights on population, income, housing costs, and more, tailored to your needs.
• Use the detailed reports to make data-driven decisions for your next home purchase, investment, or business venture.