Home Affordability in 38101
Memphis, TN — Shelby County
The median home price in ZIP code 38101 (Memphis) is $165,000 with a median household income of $42,000. The price-to-income ratio is 3.9x.
Median Home Price
$165,000
Median Income
$42,000
Price-to-Income
3.9x
Est. Affordable Home
$163,000
Property Tax Rate
0.72%
Annual Property Tax
$1,188
Cost of Living
83
Metro Area
Memphis MSA
Down Payment Scenarios for ZIP 38101
| Down Payment | Amount | Loan Amount | PMI |
|---|---|---|---|
| 3% | $4,950 | $160,050 | Yes |
| 5% | $8,250 | $156,750 | Yes |
| 10% | $16,500 | $148,500 | Yes |
| 20% | $33,000 | $132,000 | No |
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