Rental numbers for the Memphis, TN metro
The typical home here runs -$612 a month at 7.78% with 25% down, breaking even at about 2.3%. 8 of 40 ZIP codes with full Zillow data in this metro are cash-flow positive; the median gross yield is 7.4%.
- Gross yield
- 6.9%
- typical home, Zillow
- Median ZIP yield
- 7.4%
- 40 ZIPs with full data
- Cash flow
- -$612/mo
- at 7.78%, 25% down
- Typical price
- $245,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $1,400/mo
- Zillow ZORI, Aug 2026
ZIP codes in the metro
71 with published figures
| 72331Earle | $69,000 | $1,060* | 18.3% | 11.3% | +$281 | n/a |
| 38108Memphis | $72,000 | $1,103 | 18.3% | 11.3% | +$292 | +8.7% |
| 38106Memphis | $58,000 | $870 | 17.9% | 9.9% | +$166 | +3.1% |
| 38126Memphis | $76,000 | $1,060* | 16.7% | 9.7% | +$205 | n/a |
| 38109Memphis | $92,000 | $1,162 | 15.1% | 8.8% | +$179 | +2.5% |
| 38127Memphis | $91,000 | $1,101 | 14.6% | 8.4% | +$148 | +4.0% |
| 38114Memphis | $75,000 | $894 | 14.4% | 7.8% | +$82 | +1.1% |
| 38105Memphis | $112,000 | $1,164 | 12.4% | 7.1% | +$61 | n/a |
| 38107Memphis | $112,000 | $1,151 | 12.3% | 7.1% | +$63 | +2.1% |
| 38112Memphis | $127,000 | $1,241 | 11.8% | 6.8% | +$37 | +0.9% |
| 38111Memphis | $135,000 | $1,284 | 11.4% | 6.3% | -$13 | +1.9% |
| 38118Memphis | $125,000 | $1,148 | 11.0% | 5.9% | -$60 | +0.8% |
| 38122Memphis | $126,000 | $1,089 | 10.4% | 5.4% | -$114 | -0.8% |
| 38141Memphis | $191,000 | $1,604 | 10.1% | 5.7% | -$125 | +3.2% |
| 38128Memphis | $148,000 | $1,186 | 9.6% | 5.1% | -$173 | +1.3% |
| 72301West Memphis | $133,000 | $1,060* | 9.5% | 5.1% | -$157 | n/a |
| 38676Tunica | $146,000 | $1,120* | 9.2% | 4.8% | -$201 | n/a |
| 38637Horn Lake | $202,000 | $1,501 | 8.9% | 4.9% | -$272 | -1.6% |
| 38672Southaven | $332,000 | $2,298 | 8.3% | 5.0% | -$418 | n/a |
| 38039Grand Junction | $157,000 | $1,060* | 8.1% | 4.3% | -$279 | n/a |
| 38626Dundee | $172,000 | $1,120* | 7.8% | 3.9% | -$369 | n/a |
| 38053Millington | $244,000 | $1,572 | 7.7% | 4.2% | -$452 | +0.9% |
| 38671Southaven | $234,000 | $1,499 | 7.7% | 4.0% | -$483 | +1.4% |
| 38632Hernando | $345,000 | $2,202 | 7.7% | 4.5% | -$578 | +2.0% |
| 38680Walls | $259,000 | $1,654 | 7.6% | 4.2% | -$486 | n/a |
| 38135Bartlett | $298,000 | $1,879 | 7.5% | 4.0% | -$605 | -0.2% |
| 38664Robinsonville | $202,000 | $1,250* | 7.4% | 3.9% | -$440 | n/a |
| 38659Potts Camp | $167,000 | $1,030* | 7.4% | 3.0% | -$477 | n/a |
| 38115Memphis | $167,000 | $1,012 | 7.3% | 3.1% | -$468 | +0.4% |
| 38685Waterford | $193,000 | $1,170* | 7.3% | 3.4% | -$495 | n/a |
| 38668Senatobia | $249,000 | $1,500 | 7.2% | 3.6% | -$597 | n/a |
| 38635Holly Springs | $176,000 | $1,050* | 7.1% | 3.0% | -$515 | n/a |
| 72348Hughes | $179,000 | $1,060* | 7.1% | 3.3% | -$474 | n/a |
| 38116Memphis | $157,000 | $924 | 7.1% | 2.8% | -$481 | +0.9% |
| 38060Oakland | $352,000 | $2,070 | 7.1% | 4.3% | -$649 | +1.2% |
| 38133Bartlett | $273,000 | $1,578 | 6.9% | 3.3% | -$720 | -1.2% |
| 38018Cordova | $289,000 | $1,656 | 6.9% | 3.4% | -$732 | +0.4% |
| 38042Hickory Valley | $206,000 | $1,180* | 6.9% | 3.6% | -$500 | n/a |
| 38654Olive Branch | $332,000 | $1,853 | 6.7% | 3.5% | -$817 | +0.9% |
| 38117Memphis | $268,000 | $1,483 | 6.6% | 2.8% | -$826 | +2.4% |
| 38125Memphis | $278,000 | $1,511 | 6.5% | 3.2% | -$763 | +2.1% |
| 38134Bartlett | $227,000 | $1,222 | 6.5% | 2.7% | -$704 | -0.2% |
| 38138Germantown | $435,000 | $2,319 | 6.4% | 3.1% | -$1,222 | +4.3% |
| 38642Lamar | $193,000 | $1,020* | 6.3% | 2.8% | -$593 | n/a |
| 38119Memphis | $292,000 | $1,519 | 6.2% | 2.5% | -$960 | -2.0% |
| 38016Cordova | $293,000 | $1,506 | 6.2% | 2.7% | -$913 | -1.3% |
| 38104Memphis | $254,000 | $1,285 | 6.1% | 2.4% | -$865 | +2.3% |
| 38019Covington | $210,000 | $1,060* | 6.0% | 2.8% | -$637 | n/a |
| 38661Red Banks | $236,000 | $1,180* | 6.0% | 2.7% | -$744 | n/a |
| 38002Lakeland | $407,000 | $1,948 | 5.7% | 2.7% | -$1,284 | +0.4% |
| 38023Drummonds | $272,000 | $1,300* | 5.7% | 2.8% | -$830 | n/a |
| 38611Byhalia | $278,000 | $1,330* | 5.7% | 2.5% | -$911 | n/a |
| 38103Memphis | $322,000 | $1,533 | 5.7% | 2.3% | -$1,128 | +0.2% |
| 38665Sarah | $244,000 | $1,160* | 5.7% | 2.4% | -$829 | n/a |
| 72364Marion | $239,000 | $1,108 | 5.6% | 2.1% | -$860 | n/a |
| 38049Braden | $235,000 | $1,070* | 5.5% | 2.5% | -$785 | n/a |
| 38618Coldwater | $249,000 | $1,130* | 5.4% | 2.1% | -$897 | n/a |
| 38015Gilt Edge | $236,000 | $1,060* | 5.4% | 2.4% | -$797 | n/a |
| 38058Munford | $286,000 | $1,220* | 5.1% | 2.3% | -$998 | n/a |
| 38011Brighton | $271,000 | $1,130* | 5.0% | 2.2% | -$963 | n/a |
| 38651Nesbit | $357,000 | $1,410* | 4.7% | 1.9% | -$1,352 | n/a |
| 38017Collierville | $508,000 | $1,979 | 4.7% | 1.8% | -$1,995 | +1.3% |
| 38004Atoka | $351,000 | $1,350 | 4.6% | 1.9% | -$1,319 | n/a |
| 38057Moscow | $293,000 | $1,060* | 4.3% | 1.7% | -$1,160 | n/a |
| 38120Memphis | $423,000 | $1,518 | 4.3% | 1.0% | -$1,935 | +0.1% |
| 38641Walls | $327,000 | $1,150* | 4.2% | 1.5% | -$1,363 | n/a |
| 38068Somerville | $301,000 | $1,060* | 4.2% | 1.7% | -$1,190 | n/a |
| 38139Germantown | $590,000 | $1,910* | 3.9% | 1.1% | -$2,653 | n/a |
| 38076Williston | $367,000 | $1,080* | 3.5% | 1.2% | -$1,604 | n/a |
| 38028Eads | $606,000 | $1,430* | 2.8% | 0.7% | -$2,923 | n/a |
| 38066Rossville | $526,000 | $1,060* | 2.4% | 0.4% | -$2,651 | n/a |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +0.1%
- Rent, 12 months
- +1.1%
- Rent minus price growth
- +1.0 pts
- Property tax
- 0.73%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $210,072 | $1,188 |
| Aug 2022 | $245,669 | $1,285 |
| Aug 2023 | $244,235 | $1,319 |
| Aug 2024 | $246,319 | $1,362 |
| Aug 2025 | $244,441 | $1,385 |
| Aug 2026 | $244,737 | $1,400 |
Counties
- Shelby County, TN7.4% median yield
- Tipton County, TN4.6% median yield
- Hardeman County, TNn/a median yield
- Fayette County, TN7.1% median yield
- Marshall County, MSn/a median yield
- Tate County, MS7.2% median yield
- Tunica County, MSn/a median yield
- DeSoto County, MS7.7% median yield
- Benton County, MSn/a median yield
- Crittenden County, AR5.6% median yield
Tools
Questions
- Is the Memphis, TN metro good for rental property?
- The typical home here runs -$612 a month at 7.78% with 25% down, breaking even at about 2.3%. 8 of 40 ZIP codes with full Zillow data in this metro are cash-flow positive; the median gross yield is 7.4%. Figures assume a typical home, 7.78% with 25% down and the default costs on the methodology page.
- Which ZIP codes in the Memphis, TN metro have the highest rental yield?
- 38108 (Memphis) at 18.3%, 38106 (Memphis) at 17.9%, 38109 (Memphis) at 15.1%, on Zillow value and rent. The full table above sorts by any column.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.