ZIP 38122 - 860Z200US38122 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 38122 for a home purchase, investment opportunity, or business venture, understanding the area’s demographic and housing landscape is essential. Located in the Memphis, Tennessee area, this ZIP code offers a diverse community with unique opportunities and challenges. This snapshot, based on 2023 data, breaks down key metrics like population, income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions.

Population & Households

ZIP 38122 is home to a population of 25,310 residents, making it a moderately sized community with a mix of urban and suburban characteristics. These residents are distributed across 9,305 households, reflecting a variety of family structures and living arrangements. With 10,201 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate potential availability for new buyers or renters looking to move into the area.

Income & Housing Costs

The median household income in ZIP 38122 stands at $45,456, which is below the national average but reflective of the cost of living in this part of Tennessee. For homebuyers and investors, the median house value of $108,200 presents an affordable entry point into the housing market, especially compared to larger metropolitan areas. Renters, on the other hand, face a median rent of $1,127 per month, which may feel steep relative to local income levels. This dynamic suggests that owning could be a more cost-effective long-term option for residents in this ZIP code.

Race & Ethnicity

ZIP 38122 boasts a diverse population, with a racial and ethnic composition that reflects a vibrant, multicultural community. Hispanics make up the largest group at 37.4%, followed by Whites at 34.26%, and Blacks at 20.02%. Asians account for a smaller share at 2.18%. This diversity can be a draw for businesses looking to cater to varied cultural needs or for families seeking an inclusive environment to call home.

Key Facts

• Total population: 25,310 residents, offering a sizable community for businesses and social engagement.
• Total households: 9,305, indicating a mix of family and individual living arrangements.
• Total housing units: 10,201, suggesting some availability for new occupants.
• Median household income: $45,456, reflecting a working-class economic base.
• Median house value: $108,200, an affordable option for buyers and investors.
• Median rent: $1,127, a notable expense for renters relative to local incomes.
• Racial diversity: Hispanic (37.4%), White (34.26%), Black (20.02%), Asian (2.18%), fostering a multicultural vibe.

What This Means for You

For homebuyers, ZIP 38122 offers an affordable housing market with a median home value of $108,200, making it a feasible option for first-time buyers or those looking to downsize. However, be mindful of the rental costs if you’re not ready to buy—median rent at $1,127 could strain budgets given the area’s median income. Investors and real estate agents might see opportunity in the surplus of housing units (10,201 total vs. 9,305 occupied), which could translate to rental or flip potential in a market with reasonable entry costs. Keep an eye on income levels, though, as they may limit how much tenants can pay. Small-business owners can leverage the area’s diversity and population size (25,310) to target a broad customer base, especially with culturally tailored products or services. Finally, analysts can use this data to track trends in affordability and demographic shifts, particularly the growing Hispanic population, which may influence future market demands.

Run This Study Yourself

• Curious about another ZIP code or want to dive deeper into 38122? Start by visiting ZipcodeGPT for a user-friendly way to access detailed demographic and housing insights.
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• Use the insights to make informed decisions, whether you’re buying a home, investing, or planning a business in the area.