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Investor guide

Memphis ZIP guide

Our notes on 29 Memphis-area zip codes, so you can look at the market with more confidence.^* Data pulled November 12, 2026. Every deal is still underwritten on its own numbers — conditions change block by block.

Birmingham ZIP guide is coming. This guide covers Memphis for now.

Grades

How we grade

We grade each zip so you can compare markets with more confidence. Each zip gets a 0–100 composite score built only from five property and market factors. Each factor is scaled from the worst to the best zip in this guide, then weighted:

Safety, 33%: reported crimes per 1,000 residents (CrimeGrade.org, Nov 2026)
Rent yield, 22%: gross yield = 12 × Zillow typical rent ÷ Zillow typical home value (Census median rent where Zillow has none)
Appreciation, 17%: 5-year change in the Zillow Home Value Index (Sep 2021 → Sep 2026)
Vacancy, 17%: Census ACS 2020–2024 housing vacancy rate (lower is better)
Owner-occupancy, 11%: ACS share of occupied homes that are owner-occupied (shown in the data table)

Score = 33% safety + 22% rent yield + 17% appreciation + 17% vacancy + 11% owner-occupancy. Schools are not part of the score.

Grades follow these score bands, with one judgment call. 38122 (Berclair) scores 52, which rounds onto the B line (51.9 before rounding). We grade it C based on our judgment of the market. The score shown is the formula result; it is marked with an asterisk (*) where it appears.

Grade	Score	Meaning for a rental investor
A	65+	Strongest fundamentals: low crime, low vacancy, steady appreciation. Typical values are at the high end of the Memphis market, so cash flow is thin.
B	52–64	Solid, stable rental areas with moderate risk and light rehab. Typical values are generally higher than in the focus (buy-box) zips.
C	42–51	Workable cash-flow areas with mixed risk. Underwrite carefully and work street by street.
D	32–41	High risk: high vacancy and crime, falling or flat values, and heavier rehab.
F	under 32	Weakest fundamentals for fix-and-rent (very high crime or vacancy, falling values, or a market that is mostly apartments or condos).

Grade count (29 zips): A = 3 · B = 9 · C = 5 · D = 8 · F = 4

Voucher use and school proficiency appear in the data table for context only. Neither is used in the score or the grade, and no grade describes who lives in a zip.

Maps

Memphis zip map

All 29 zips in this guide, colored by investment grade. Buy-box zips have a bold outline and bold labels. The numbered hatched bands are our buy-and-hold sweet spot, described in the next section. Boundaries are U.S. Census Bureau TIGER/Line 2020 ZCTAs.

Map of 29 Memphis-area zip codes colored by Highland Realty Services investment grade, with buy-box zips in a bold outline and numbered hatched bands marking the buy-and-hold sweet spot.

Figure 1. All 29 zips by investment grade. Buy-box zips are drawn with a bold outline. Numbered hatched bands are our buy-and-hold sweet spot. Gray outlines are nearby zips not in this guide.

Sweet spot

Our buy-and-hold sweet spot

This is Highland Realty Services’ sweet spot for the buy-and-hold investor. The numbered, hatched bands on the map are approximate — they mark broad areas, not precise property or street lines.

Closer map of four numbered, hatched bands marking Highland Realty Services’ buy-and-hold sweet spot across southern Raleigh, eastern Frayser, Berclair, the University District and East Memphis border, northern Parkway Village, western Hickory Hill, and eastern Westwood.

Figure 2. Closer view of the four buy-and-hold sweet-spot areas. The bands are broad areas, not precise property lines.

Southern Raleigh into eastern Frayser

A band along the southern part of 38128 (Raleigh) that extends west into the eastern edge of 38127 (Frayser).
Berclair through East Memphis into northern Parkway Village

A north–south strip from the south edge of 38128, through 38122 (Berclair), along the shared border of 38111 (University District) and 38117 (East Memphis: White Station, Sea Isle), and into the northern part of 38118 (Parkway Village).
Western Hickory Hill

A smaller area on the western edge of 38115 (Hickory Hill north), next to 38118.
Eastern Westwood

An area in the eastern part of 38109 (Westwood), near its border with 38116 (Whitehaven).

Zips in or along these areas: 38109, 38111, 38115, 38117, 38118, 38122, 38127, and 38128. Several of these are in the buy box; 38117 is not. As with every grade in this guide, conditions change block by block — underwrite the specific street.

Buy box

Buy-box zips at a glance

These nine zips are in the Highland Realty Services buy box — our current focus for acquisitions: 38108, 38109, 38111, 38112, 38115, 38118, 38122, 38127, and 38128. Typical value, rent, and the 5-year trend are Zillow (September 2026), shown as the data average. Based on actual Highland rent data, Highland Realty generally rents about $150 to $250 more than the average; a Highland Realty rent estimate sits next to each public-data figure. Figures are approximate.

38108 C

Nutbush

Typical value: $67K
Typical rent: Data average $1,085 Highland Realty rent estimate $1,235 to $1,335
5-yr trend: +10%

38109 C

Westwood

Typical value: $88K
Typical rent: Data average $1,151 Highland Realty rent estimate $1,301 to $1,401
5-yr trend: +4%

38111 C

University District / U of M

Typical value: $131K
Typical rent: Data average $1,280 Highland Realty rent estimate $1,430 to $1,530
5-yr trend: +2%

38112 D

Vollintine-Evergreen

Typical value: $120K
Typical rent: Data average $1,233 Highland Realty rent estimate $1,383 to $1,483
5-yr trend: −4%

38115 D

Hickory Hill (north)

Typical value: $161K
Typical rent: Data average $1,029 Highland Realty rent estimate $1,179 to $1,279
5-yr trend: +11%

38118 D

Parkway Village

Typical value: $120K
Typical rent: Data average $1,178 Highland Realty rent estimate $1,328 to $1,428
5-yr trend: +9%

38122 C

Berclair

Typical value: $121K
Typical rent: Data average $1,119 Highland Realty rent estimate $1,269 to $1,369
5-yr trend: +13%

38127 D

Frayser

Typical value: $87K
Typical rent: Data average $1,085 Highland Realty rent estimate $1,235 to $1,335
5-yr trend: +1%

38128 C

Raleigh

Typical value: $143K
Typical rent: Data average $1,198 Highland Realty rent estimate $1,348 to $1,448
5-yr trend: +15%

A property in any other Memphis zip sits outside that focus, whatever its grade.

B and C areas

B and C zips on separate panels, at the same scale. Other zips from the guide are grayed for context. B areas are solid, stable rental areas, generally at higher typical values than the buy-box zips. C areas are workable cash-flow areas — underwrite street by street.

Two-panel map of Memphis B-grade (9) and C-grade (5) zip codes at the same scale, with other guide zips in gray.

Figure 3. B areas (top) and C areas (bottom), at the same scale. Buy-box zips have a bold outline on both panels. Numbered hatched bands on the C panel are our buy-and-hold sweet spot.

B and C breakdown

One entry per zip. Figures come from the data table and our zip-by-zip notes; they are not new figures. Rent shows the data average and the Highland Realty rent estimate (data average plus $150 to $250, based on actual Highland rent data).

Grade B: 9 zips

38016 · Cordova (north): Germantown Pkwy / Wolfchase · Grade B

Typical value: $290K
Rent (data average): $1,495
Highland Realty rent estimate: $1,645 to $1,745
Vacancy: 8%
Crime: B− (57 per 1,000 residents)
Schools: D (33% proficient)
Median year built: 1998
5-yr value trend: +9.8% (last year −1.9%)
Rehab: Light

Bottom line: Newer stock; apartment-heavy pockets push vacancy up.

38018 · Cordova (south), Shelby Farms east · Grade B

Typical value: $287K
Rent (data average): $1,658
Highland Realty rent estimate: $1,808 to $1,908
Vacancy: 5%
Crime: B− (51 per 1,000 residents)
Schools: D+ (34% proficient)
Median year built: 1997
5-yr value trend: +9.5% (last year −2.2%)
Rehab: Light

Bottom line: Newer homes with low vacancy and steady 5-year gains.

38117 · East Memphis: White Station, Sea Isle, Red Acres, Colonial Acres, Poplar–Perkins · Grade B

Typical value: $264K
Rent (data average): $1,466
Highland Realty rent estimate: $1,616 to $1,716
Vacancy: 5%
Crime: C+ (86 per 1,000 residents)
Schools: D− (28% proficient)
Median year built: 1958
5-yr value trend: +4.1% (last year −0.8%)
Rehab: Light–moderate

Bottom line: Established 1950s single-family neighborhoods, 76% owner-occupied. Crime is lower than most Memphis zips, but appreciation is slow: stable rental demand, thin cash flow.

38119 · Kirby, Balmoral, Ridgeway, Poplar–Kirby, River Oaks (part) · Grade B

Typical value: $288K
Rent (data average): $1,472
Highland Realty rent estimate: $1,622 to $1,722
Vacancy: 6%
Crime: C (77 per 1,000 residents)
Schools: D (29% proficient)
Median year built: 1979
5-yr value trend: +8.3% (last year −1.3%)
Rehab: Light–moderate

Bottom line: 1970s homes plus condos and apartments (54% single-family). Crime is better than most of the city: stable and low-maintenance, but yields are thin.

38120 · River Oaks, Walnut Grove, Shady Grove, East Memphis Poplar corridor · Grade B

Typical value: $422K
Rent (data average): $1,563
Highland Realty rent estimate: $1,713 to $1,813
Vacancy: 6%
Crime: B+ (72 per 1,000 residents)
Schools: B+ (45% proficient)
Median year built: 1976
5-yr value trend: +7.7% (last year −1.2%)
Rehab: Light–moderate

Bottom line: Upper-end East Memphis, 72% owner-occupied, with one of the lower reported crime rates in the guide (72 per 1,000). Gross yield is only ~4%: a quality, appreciation zip, not a cash-flow zip.

38125 · Hickory Hill (south), Southwind, Riverdale, Windyke · Grade B

Typical value: $276K
Rent (data average): $1,516
Highland Realty rent estimate: $1,666 to $1,766
Vacancy: 5%
Crime: C− (65 per 1,000 residents)
Schools: C− (39% proficient)
Median year built: 1996
5-yr value trend: +13.7% (last year −1.2%)
Rehab: Light

Bottom line: Newer suburban stock; crime and schools both grade C−, better than most Memphis zips. Most homes are priced above the buy box.

38133 · Bartlett (south), Wolfchase area (Memphis/Bartlett addresses) · Grade B

Typical value: $271K
Rent (data average): $1,648
Highland Realty rent estimate: $1,798 to $1,898
Vacancy: 4%
Crime: B+ (66 per 1,000 residents)
Schools: B+ (45% proficient)
Median year built: 1993
5-yr value trend: +15.2% (last year −0.5%)
Rehab: Light

Bottom line: 1990s suburban single-family with reliable rental demand; B+ crime and schools. Priced above the buy box.

38134 · Raleigh (east), Bartlett (south), Elmore Park, Shelby Oaks · Grade B

Typical value: $223K
Rent (data average): $1,206
Highland Realty rent estimate: $1,356 to $1,456
Vacancy: 5%
Crime: C− (88 per 1,000 residents)
Schools: C (36% proficient)
Median year built: 1979
5-yr value trend: +17.6% (last year +1.0%)
Rehab: Light–moderate

Bottom line: The best non-redevelopment 5-year trend in the guide, and values are still up year over year.

38141 · Hickory Hill (south), Ridgeway–Hacks Cross, Shelby Drive area · Grade B

Typical value: $188K
Rent (data average): $1,570
Highland Realty rent estimate: $1,720 to $1,820
Vacancy: 3%
Crime: F (82 per 1,000 residents)
Schools: F (20% proficient)
Median year built: 1985
5-yr value trend: +13.5% (last year −0.4%)
Rehab: Light–moderate

Bottom line: 85% single-family. Crime grades F nationally, but the rate is well below most Memphis zips.

Grade C: 5 zips

38108 · Nutbush, Hollywood, Chickasaw Heights, north Highland Heights · Grade C ✅ Buy box

Typical value: $67K
Rent (data average): $1,085
Highland Realty rent estimate: $1,235 to $1,335
Vacancy: 16%
Crime: F (186 per 1,000 residents)
Schools: F (23% proficient)
Median year built: 1956
5-yr value trend: +9.7% (last year −4.3%)
Rehab: Heavy

Bottom line: 1950s single-family (78%) at a low price: strong paper yield, but high vacancy and high crime. Heavy-rehab inventory is common.

38109 · Westwood, Whitehaven (west), Boxtown / Westhaven, Indian Hills · Grade C ✅ Buy box

Typical value: $88K
Rent (data average): $1,151
Highland Realty rent estimate: $1,301 to $1,401
Vacancy: 12%
Crime: F (153 per 1,000 residents)
Schools: F (20% proficient)
Median year built: 1964
5-yr value trend: +4.0% (last year −7.3%)
Rehab: Moderate

Bottom line: Large, 87% single-family market, majority owner-occupied (56%): a core cash-flow zip.

38111 · University District / U of M, Normal Station, Sherwood Forest, Chickasaw Gardens area, south Highland Heights · Grade C ✅ Buy box

Typical value: $131K
Rent (data average): $1,280
Highland Realty rent estimate: $1,430 to $1,530
Vacancy: 11%
Crime: F (128 per 1,000 residents)
Schools: D− (27% proficient)
Median year built: 1956
5-yr value trend: +2.4% (last year −1.7%)
Rehab: Moderate

Bottom line: Big, mixed zip (~42K residents) of 1950s homes around the University of Memphis. Values are flat; crime varies sharply by block (sub-areas grade B− to F).

38122 · Berclair, Highland Heights (east), Grahamwood, Summer Ave corridor · Grade C ✅ Buy box

Typical value: $121K
Rent (data average): $1,119
Highland Realty rent estimate: $1,269 to $1,369
Vacancy: 7%
Crime: F (147 per 1,000 residents)
Schools: D (32% proficient)
Median year built: 1956
5-yr value trend: +12.9% (last year −3.7%)
Rehab: Moderate

Bottom line: 1950s single-family (77%). Vacancy is low for this price band.

38128 · Raleigh, Raleigh Springs / Austin Peay corridor, Coleman Rd area · Grade C ✅ Buy box

Typical value: $143K
Rent (data average): $1,198
Highland Realty rent estimate: $1,348 to $1,448
Vacancy: 12%
Crime: F (138 per 1,000 residents)
Schools: F (22% proficient)
Median year built: 1975
5-yr value trend: +14.7% (last year −2.5%)
Rehab: Moderate

Bottom line: 1970s homes (63% single-family). The best 5-year value trend among the buy-box zips.

Zip by zip

Our notes, zip by zip

Filter by grade or buy box, or search by zip or neighborhood. 38016 and 38018 (Cordova) are not 381xx zips, but they lie largely inside the city of Memphis and are included for completeness.

38103

Score 24 $319K Data average $1,538; Highland Realty rent estimate $1,688 to $1,788/mo 5-yr −1.7%

Downtown, South Main, Harbor Town / Mud Island, South Bluffs

Our notes

Condo- and apartment-heavy core (only ~19% single-family); typical value ~$319K vs. ~$1,540 rent (Highland Realty rent estimate $1,688 to $1,788), so rentals rarely cash-flow, and values are down ~5% YoY and ~2% over 5 years. Crime per resident is inflated by visitor and commercial activity; this is not a single-family rental market.

38104

Score 26 $249K Data average $1,265; Highland Realty rent estimate $1,415 to $1,515/mo 5-yr −7.4%

Midtown: Cooper-Young, Central Gardens, Overton Square area, Annesdale, Medical District edge

Our notes

Oldest stock in the guide (median built 1949), with historic homes and small multifamily; typical value ~$249K vs. ~$1,265 rent (Highland Realty rent estimate $1,415 to $1,515). Values are down ~5% YoY and ~7% over 5 years; rental demand is strong, but the numbers fit flips and retail resale better than buy-and-hold.

38105

Score 28 $107K Data average $1,101; Highland Realty rent estimate $1,251 to $1,351/mo 5-yr +27.1%

Medical District, Uptown, the Pinch, north Downtown edge

Our notes

Small zip (~5.5K residents), mostly apartments and infill, ~14% owner-occupied and ~24% vacant. Values are up ~27% over 5 years from a low base, but a very high reported crime rate makes it a specialist market.

38106

Score 36 $55K Data average $908; Highland Realty rent estimate $1,058 to $1,158/mo 5-yr +10.3%

South Memphis, Soulsville, Riverside, Longview Heights, Glenview (part)

Our notes

1950s small single-family homes at the lowest values in the guide (~$55K typical, ~$900 rent (Highland Realty rent estimate $1,058 to $1,158)). Paper yields are high, but vacancy is ~23%, values fell ~6% last year, and heavy rehab is common.

38107

Score 35 $104K Data average $1,227; Highland Realty rent estimate $1,377 to $1,477/mo 5-yr +7.4%

North Memphis: Klondike, Smokey City, New Chicago, Hyde Park, west Vollintine-Evergreen

Our notes

Pre-1960 housing (median 1954); typical value ~$104K, ~17% vacancy. Values are up ~7% over 5 years but down ~4% last year. Expect heavy rehab and turnover risk.

38108

C Buy box

Score 50 $67K Data average $1,085; Highland Realty rent estimate $1,235 to $1,335/mo 5-yr +9.7%

Nutbush, Hollywood, Chickasaw Heights, north Highland Heights

Our notes

1950s single-family (78% SF) at ~$67K typical value with ~$1,085 Zillow rent (Highland Realty rent estimate $1,235 to $1,335): strong paper yield, but ~16% vacancy and high crime. Values are down ~4% YoY and up ~10% over 5 years; heavy-rehab inventory is common.

38109

C Buy box

Score 51 $88K Data average $1,151; Highland Realty rent estimate $1,301 to $1,401/mo 5-yr +4.0%

Westwood, Whitehaven (west), Boxtown / Westhaven, Indian Hills

Our notes

Large, 87% single-family market of 1960s-era homes (~$88K typical, ~$1,150 rent (Highland Realty rent estimate $1,301 to $1,401)), majority owner-occupied (56%): a core cash-flow zip. Values are down ~7% YoY (+4% over 5 years); moderate rehab is typical.

38111

C Buy box

Score 47 $131K Data average $1,280; Highland Realty rent estimate $1,430 to $1,530/mo 5-yr +2.4%

University District / U of M, Normal Station, Sherwood Forest, Chickasaw Gardens area, south Highland Heights

Our notes

Big, mixed zip (~42K residents) of 1950s homes around the University of Memphis; typical value ~$131K, rent ~$1,280 (Highland Realty rent estimate $1,430 to $1,530), ~11% vacancy. Values are flat over 5 years (+2%); crime varies sharply by block (sub-areas grade B- to F); moderate rehab on mid-century stock.

38112

D Buy box

Score 39 $120K Data average $1,233; Highland Realty rent estimate $1,383 to $1,483/mo 5-yr −4.3%

Vollintine-Evergreen, Evergreen, Binghampton, Hein Park / Overton Park area, Crosstown (east)

Our notes

Old stock (median built 1950), ranging from historic Evergreen homes to distressed Binghampton houses, so medians disagree (Zillow ~$120K vs. Census ~$252K). Zillow shows values down ~8% YoY and ~4% over 5 years. Work it street by street and budget for older systems.

38114

Score 25 $71K Data average $929; Highland Realty rent estimate $1,079 to $1,179/mo 5-yr −5.0%

Orange Mound, Castalia Heights, Glenview, Cherokee

Our notes

1950s small homes at ~$71K typical value; ~23% vacancy and among the highest crime rates. Values are down ~7% YoY and ~5% over 5 years; heavy rehab and high holding risk.

38115

D Buy box

Score 34 $161K Data average $1,029; Highland Realty rent estimate $1,179 to $1,279/mo 5-yr +11.4%

Hickory Hill (north), Fox Meadows, Ridgeway / Mt. Moriah corridor

Our notes

Apartment-heavy (32% single-family, 23% owner-occupied) 1980s-era stock; typical value ~$161K, rent ~$1,030 (Highland Realty rent estimate $1,179 to $1,279). Values are up ~11% over 5 years, but ~15% vacancy and high crime; the single-family streets are the opportunity.

38116

Score 32 $151K Data average $928; Highland Realty rent estimate $1,078 to $1,178/mo 5-yr +9.2%

Whitehaven (east), Graceland area, airport south

Our notes

1960s housing, ~$151K typical value, ~$930 rent (Highland Realty rent estimate $1,078 to $1,178) (apartment-weighted), ~16% vacancy. Values are up ~9% over 5 years; single-family pockets are steadier than the apartment corridors.

38117

Score 55 $264K Data average $1,466; Highland Realty rent estimate $1,616 to $1,716/mo 5-yr +4.1%

East Memphis: White Station, Sea Isle, Red Acres, Colonial Acres, Poplar–Perkins

Our notes

Established 1950s single-family neighborhoods, 76% owner-occupied, ~$264K typical, ~$1,470 rent (Highland Realty rent estimate $1,616 to $1,716), ~5% vacancy. Crime is lower than in most Memphis zips (C+) but appreciation is slow (+4% over 5 years): stable rental demand, thin cash flow, light-to-moderate updates.

38118

D Buy box

Score 35 $120K Data average $1,178; Highland Realty rent estimate $1,328 to $1,428/mo 5-yr +8.6%

Parkway Village, Oakhaven, Knight Arnold / Getwell, Airways south

Our notes

1970s-era homes, ~$120K typical, ~$1,180 rent (Highland Realty rent estimate $1,328 to $1,428): a good rent-to-price ratio. But vacancy is ~19% (apartment-heavy pockets) and robbery and assault rates are high. Values are up ~9% over 5 years; moderate rehab is typical.

38119

Score 54 $288K Data average $1,472; Highland Realty rent estimate $1,622 to $1,722/mo 5-yr +8.3%

Kirby, Balmoral, Ridgeway, Poplar–Kirby, River Oaks (part)

Our notes

1970s homes plus condos and apartments (54% SF); ~$288K typical, ~$1,470 rent (Highland Realty rent estimate $1,622 to $1,722), ~6% vacancy. Crime grades C (better than most of the city) and values are up ~8% over 5 years: stable and low-maintenance, but yields are thin.

38120

Score 53 $422K Data average $1,563; Highland Realty rent estimate $1,713 to $1,813/mo 5-yr +7.7%

River Oaks, Walnut Grove, Shady Grove, East Memphis Poplar corridor

Our notes

Upper-end East Memphis (~$422K typical), 72% owner-occupied, with one of the lower reported crime rates in the guide (72 per 1,000; B+). Gross yield is only ~4%: a quality, appreciation zip, not a cash-flow zip.

38122

C Buy box

Score 52 · graded C* $121K Data average $1,119; Highland Realty rent estimate $1,269 to $1,369/mo 5-yr +12.9%

Berclair, Highland Heights (east), Grahamwood, Summer Ave corridor

Our notes

1950s single-family (77% SF), ~$121K typical, ~$1,120 rent (Highland Realty rent estimate $1,269 to $1,369), ~7% vacancy (low for this price band). Values are up ~13% over 5 years though down ~4% last year; moderate rehab on mid-century homes.

38125

Score 58 $276K Data average $1,516; Highland Realty rent estimate $1,666 to $1,766/mo 5-yr +13.7%

Hickory Hill (south), Southwind, Riverdale, Windyke

Our notes

Newer suburban stock (median built 1996), ~$276K typical, ~$1,520 rent (Highland Realty rent estimate $1,666 to $1,766), ~5% vacancy; crime and schools both grade C- (better than most Memphis zips). Values are up ~14% over 5 years; light rehab; most homes are priced above the buy box.

38126

Score 37 $72K Data average $787 (Census); Highland Realty rent estimate $937 to $1,037/mo 5-yr +33.8%

South City (former Foote Homes site), Vance Ave, LeMoyne-Owen area, south Downtown edge

Our notes

Small zip (~6K residents), mostly apartments and public-housing redevelopment, 12% owner-occupied, ~$72K typical value. It has the highest reported crime rate in the guide; values are up ~34% over 5 years from redevelopment, but there are few single-family rentals.

38127

D Buy box

Score 39 $87K Data average $1,085; Highland Realty rent estimate $1,235 to $1,335/mo 5-yr +1.4%

Frayser, Rugby Hills, Shelby Forest area (part)

Our notes

Large 1960s single-family zip (77% SF), ~$87K typical with ~$1,085 rent (Highland Realty rent estimate $1,235 to $1,335) (strong paper yield), but ~18% vacancy and values down ~6% YoY (+1% over 5 years). Moderate-to-heavy rehab is common; underwrite street by street.

38128

C Buy box

Score 47 $143K Data average $1,198; Highland Realty rent estimate $1,348 to $1,448/mo 5-yr +14.7%

Raleigh, Raleigh Springs / Austin Peay corridor, Coleman Rd area

Our notes

1970s homes (63% SF), ~$143K typical, ~$1,200 rent (Highland Realty rent estimate $1,348 to $1,448). Values are up ~15% over 5 years (down ~2.5% YoY), the best 5-year trend among the buy-box zips; ~12% vacancy, moderate rehab.

38133

Score 62 $271K Data average $1,648; Highland Realty rent estimate $1,798 to $1,898/mo 5-yr +15.2%

Bartlett (south), Wolfchase area (Memphis/Bartlett addresses)

Our notes

1990s suburban single-family, ~$271K typical, ~$1,650 rent (Highland Realty rent estimate $1,798 to $1,898), ~4% vacancy, B+ crime and schools. Values are up ~15% over 5 years; light rehab and reliable rental demand; priced above the buy box.

38134

Score 56 $223K Data average $1,206; Highland Realty rent estimate $1,356 to $1,456/mo 5-yr +17.6%

Raleigh (east), Bartlett (south), Elmore Park, Shelby Oaks

Our notes

1979-median homes, ~$223K typical, ~$1,200 rent (Highland Realty rent estimate $1,356 to $1,456), ~5% vacancy, C- crime. Values are up ~18% over 5 years (the best non-redevelopment trend in the guide) and +1% YoY; light-to-moderate rehab.

38135

Score 71 $295K Data average $1,799; Highland Realty rent estimate $1,949 to $2,049/mo 5-yr +15.5%

Bartlett (north), Ellendale, Raleigh–LaGrange

Our notes

1990s single-family (92% SF), ~$295K typical, ~$1,800 rent (Highland Realty rent estimate $1,949 to $2,049), ~2% vacancy, A- crime, B schools, values up ~16% over 5 years. Top-tier stability with light rehab, but well above buy-box prices.

38138

Score 66 $429K Data average $2,259; Highland Realty rent estimate $2,409 to $2,509/mo 5-yr +11.8%

Germantown (west / central): separate city with its own police and codes

Our notes

Premium suburb: ~$429K typical, ~$2,260 rent (Highland Realty rent estimate $2,409 to $2,509), ~4% vacancy, A crime and A schools, values up ~12% over 5 years. Appreciation and rental demand are strong; cash flow is thin.

38139

Score 71 $585K Data average $2,697 (Census); Highland Realty rent estimate $2,847 to $2,947/mo 5-yr +14.2%

Germantown (east), Forest Hill / Shelby Farms south edge

Our notes

Highest values in the guide (~$585K), 97% owner-occupied, A crime, A+ schools, very few rentals (rent figure is Census, approximate: data average $2,697 (Census), Highland Realty rent estimate $2,847 to $2,947). An appreciation-only market.

38141

Score 63 $188K Data average $1,570; Highland Realty rent estimate $1,720 to $1,820/mo 5-yr +13.5%

Hickory Hill (south), Ridgeway–Hacks Cross, Shelby Drive area

Our notes

1985-median homes, 85% single-family, ~$188K typical, ~$1,570 rent (Highland Realty rent estimate $1,720 to $1,820), ~3% vacancy, values up ~14% over 5 years. Crime grades F nationally but the rate (82 per 1,000) is well below most Memphis zips; light-to-moderate rehab.

38016

Score 55 $290K Data average $1,495; Highland Realty rent estimate $1,645 to $1,745/mo 5-yr +9.8%

Cordova (north): Germantown Pkwy / Wolfchase

Our notes

Newer stock (1998 median), ~$290K typical, ~$1,500 rent (Highland Realty rent estimate $1,645 to $1,745), B- crime; ~8% vacancy (apartment-heavy pockets). Values are up ~10% over 5 years; light rehab.

38018

Score 60 $287K Data average $1,658; Highland Realty rent estimate $1,808 to $1,908/mo 5-yr +9.5%

Cordova (south), Shelby Farms east

Our notes

1997-median homes, ~$287K typical, ~$1,660 rent (Highland Realty rent estimate $1,808 to $1,908), ~5% vacancy, B- crime. Values are up ~10% over 5 years; light rehab.

No zips match that filter. Clear search or choose All grades.

Data

Data table

Click a column header to sort. Typical value, rent, and trends are Zillow (September 2026), shown as the data average. Based on actual Highland rent data, Highland Realty generally rents about $150 to $250 more than the average; a Highland Realty rent estimate (data average +$150 to +$250) sits next to each public-data rent. Census figures are ACS 2020–2024 5-year estimates. All figures are approximate. Open a zip to jump to our notes.

Swipe the table to see all columns.

Zip	Score	Grade	Area	Buy box	Typical value	Typical rent	5-yr trend	Our notes
38103	24	F	Downtown, South Main, Harbor Town / Mud Island, South Bluffs	—	$319K	Data average $1,538 Highland Realty rent estimate $1,688 to $1,788	−1.7%	Condo- and apartment-heavy core (only ~19% single-family); typical value ~$319K vs. ~$1,540 rent (Highland Realty rent estimate $1,688 to $1,788), so rentals rarely cash-flow, and values are down ~5% YoY and ~2% over 5 years. Crime per resident is inflated by visitor and commercial activity; this is not a single-family rental market.
38104	26	F	Midtown: Cooper-Young, Central Gardens, Overton Square area, Annesdale, Medical District edge	—	$249K	Data average $1,265 Highland Realty rent estimate $1,415 to $1,515	−7.4%	Oldest stock in the guide (median built 1949), with historic homes and small multifamily; typical value ~$249K vs. ~$1,265 rent (Highland Realty rent estimate $1,415 to $1,515). Values are down ~5% YoY and ~7% over 5 years; rental demand is strong, but the numbers fit flips and retail resale better than buy-and-hold.
38105	28	F	Medical District, Uptown, the Pinch, north Downtown edge	—	$107K	Data average $1,101 Highland Realty rent estimate $1,251 to $1,351	+27.1%	Small zip (~5.5K residents), mostly apartments and infill, ~14% owner-occupied and ~24% vacant. Values are up ~27% over 5 years from a low base, but a very high reported crime rate makes it a specialist market.
38106	36	D	South Memphis, Soulsville, Riverside, Longview Heights, Glenview (part)	—	$55K	Data average $908 Highland Realty rent estimate $1,058 to $1,158	+10.3%	1950s small single-family homes at the lowest values in the guide (~$55K typical, ~$900 rent (Highland Realty rent estimate $1,058 to $1,158)). Paper yields are high, but vacancy is ~23%, values fell ~6% last year, and heavy rehab is common.
38107	35	D	North Memphis: Klondike, Smokey City, New Chicago, Hyde Park, west Vollintine-Evergreen	—	$104K	Data average $1,227 Highland Realty rent estimate $1,377 to $1,477	+7.4%	Pre-1960 housing (median 1954); typical value ~$104K, ~17% vacancy. Values are up ~7% over 5 years but down ~4% last year. Expect heavy rehab and turnover risk.
38108	50	C	Nutbush, Hollywood, Chickasaw Heights, north Highland Heights	Yes	$67K	Data average $1,085 Highland Realty rent estimate $1,235 to $1,335	+9.7%	1950s single-family (78% SF) at ~$67K typical value with ~$1,085 Zillow rent (Highland Realty rent estimate $1,235 to $1,335): strong paper yield, but ~16% vacancy and high crime. Values are down ~4% YoY and up ~10% over 5 years; heavy-rehab inventory is common.
38109	51	C	Westwood, Whitehaven (west), Boxtown / Westhaven, Indian Hills	Yes	$88K	Data average $1,151 Highland Realty rent estimate $1,301 to $1,401	+4.0%	Large, 87% single-family market of 1960s-era homes (~$88K typical, ~$1,150 rent (Highland Realty rent estimate $1,301 to $1,401)), majority owner-occupied (56%): a core cash-flow zip. Values are down ~7% YoY (+4% over 5 years); moderate rehab is typical.
38111	47	C	University District / U of M, Normal Station, Sherwood Forest, Chickasaw Gardens area, south Highland Heights	Yes	$131K	Data average $1,280 Highland Realty rent estimate $1,430 to $1,530	+2.4%	Big, mixed zip (~42K residents) of 1950s homes around the University of Memphis; typical value ~$131K, rent ~$1,280 (Highland Realty rent estimate $1,430 to $1,530), ~11% vacancy. Values are flat over 5 years (+2%); crime varies sharply by block (sub-areas grade B- to F); moderate rehab on mid-century stock.
38112	39	D	Vollintine-Evergreen, Evergreen, Binghampton, Hein Park / Overton Park area, Crosstown (east)	Yes	$120K	Data average $1,233 Highland Realty rent estimate $1,383 to $1,483	−4.3%	Old stock (median built 1950), ranging from historic Evergreen homes to distressed Binghampton houses, so medians disagree (Zillow ~$120K vs. Census ~$252K). Zillow shows values down ~8% YoY and ~4% over 5 years. Work it street by street and budget for older systems.
38114	25	F	Orange Mound, Castalia Heights, Glenview, Cherokee	—	$71K	Data average $929 Highland Realty rent estimate $1,079 to $1,179	−5.0%	1950s small homes at ~$71K typical value; ~23% vacancy and among the highest crime rates. Values are down ~7% YoY and ~5% over 5 years; heavy rehab and high holding risk.
38115	34	D	Hickory Hill (north), Fox Meadows, Ridgeway / Mt. Moriah corridor	Yes	$161K	Data average $1,029 Highland Realty rent estimate $1,179 to $1,279	+11.4%	Apartment-heavy (32% single-family, 23% owner-occupied) 1980s-era stock; typical value ~$161K, rent ~$1,030 (Highland Realty rent estimate $1,179 to $1,279). Values are up ~11% over 5 years, but ~15% vacancy and high crime; the single-family streets are the opportunity.
38116	32	D	Whitehaven (east), Graceland area, airport south	—	$151K	Data average $928 Highland Realty rent estimate $1,078 to $1,178	+9.2%	1960s housing, ~$151K typical value, ~$930 rent (Highland Realty rent estimate $1,078 to $1,178) (apartment-weighted), ~16% vacancy. Values are up ~9% over 5 years; single-family pockets are steadier than the apartment corridors.
38117	55	B	East Memphis: White Station, Sea Isle, Red Acres, Colonial Acres, Poplar–Perkins	—	$264K	Data average $1,466 Highland Realty rent estimate $1,616 to $1,716	+4.1%	Established 1950s single-family neighborhoods, 76% owner-occupied, ~$264K typical, ~$1,470 rent (Highland Realty rent estimate $1,616 to $1,716), ~5% vacancy. Crime is lower than in most Memphis zips (C+) but appreciation is slow (+4% over 5 years): stable rental demand, thin cash flow, light-to-moderate updates.
38118	35	D	Parkway Village, Oakhaven, Knight Arnold / Getwell, Airways south	Yes	$120K	Data average $1,178 Highland Realty rent estimate $1,328 to $1,428	+8.6%	1970s-era homes, ~$120K typical, ~$1,180 rent (Highland Realty rent estimate $1,328 to $1,428): a good rent-to-price ratio. But vacancy is ~19% (apartment-heavy pockets) and robbery and assault rates are high. Values are up ~9% over 5 years; moderate rehab is typical.
38119	54	B	Kirby, Balmoral, Ridgeway, Poplar–Kirby, River Oaks (part)	—	$288K	Data average $1,472 Highland Realty rent estimate $1,622 to $1,722	+8.3%	1970s homes plus condos and apartments (54% SF); ~$288K typical, ~$1,470 rent (Highland Realty rent estimate $1,622 to $1,722), ~6% vacancy. Crime grades C (better than most of the city) and values are up ~8% over 5 years: stable and low-maintenance, but yields are thin.
38120	53	B	River Oaks, Walnut Grove, Shady Grove, East Memphis Poplar corridor	—	$422K	Data average $1,563 Highland Realty rent estimate $1,713 to $1,813	+7.7%	Upper-end East Memphis (~$422K typical), 72% owner-occupied, with one of the lower reported crime rates in the guide (72 per 1,000; B+). Gross yield is only ~4%: a quality, appreciation zip, not a cash-flow zip.
38122	52*	C	Berclair, Highland Heights (east), Grahamwood, Summer Ave corridor	Yes	$121K	Data average $1,119 Highland Realty rent estimate $1,269 to $1,369	+12.9%	1950s single-family (77% SF), ~$121K typical, ~$1,120 rent (Highland Realty rent estimate $1,269 to $1,369), ~7% vacancy (low for this price band). Values are up ~13% over 5 years though down ~4% last year; moderate rehab on mid-century homes.
38125	58	B	Hickory Hill (south), Southwind, Riverdale, Windyke	—	$276K	Data average $1,516 Highland Realty rent estimate $1,666 to $1,766	+13.7%	Newer suburban stock (median built 1996), ~$276K typical, ~$1,520 rent (Highland Realty rent estimate $1,666 to $1,766), ~5% vacancy; crime and schools both grade C- (better than most Memphis zips). Values are up ~14% over 5 years; light rehab; most homes are priced above the buy box.
38126	37	D	South City (former Foote Homes site), Vance Ave, LeMoyne-Owen area, south Downtown edge	—	$72K	Data average $787 (Census) Highland Realty rent estimate $937 to $1,037	+33.8%	Small zip (~6K residents), mostly apartments and public-housing redevelopment, 12% owner-occupied, ~$72K typical value. It has the highest reported crime rate in the guide; values are up ~34% over 5 years from redevelopment, but there are few single-family rentals.
38127	39	D	Frayser, Rugby Hills, Shelby Forest area (part)	Yes	$87K	Data average $1,085 Highland Realty rent estimate $1,235 to $1,335	+1.4%	Large 1960s single-family zip (77% SF), ~$87K typical with ~$1,085 rent (Highland Realty rent estimate $1,235 to $1,335) (strong paper yield), but ~18% vacancy and values down ~6% YoY (+1% over 5 years). Moderate-to-heavy rehab is common; underwrite street by street.
38128	47	C	Raleigh, Raleigh Springs / Austin Peay corridor, Coleman Rd area	Yes	$143K	Data average $1,198 Highland Realty rent estimate $1,348 to $1,448	+14.7%	1970s homes (63% SF), ~$143K typical, ~$1,200 rent (Highland Realty rent estimate $1,348 to $1,448). Values are up ~15% over 5 years (down ~2.5% YoY), the best 5-year trend among the buy-box zips; ~12% vacancy, moderate rehab.
38133	62	B	Bartlett (south), Wolfchase area (Memphis/Bartlett addresses)	—	$271K	Data average $1,648 Highland Realty rent estimate $1,798 to $1,898	+15.2%	1990s suburban single-family, ~$271K typical, ~$1,650 rent (Highland Realty rent estimate $1,798 to $1,898), ~4% vacancy, B+ crime and schools. Values are up ~15% over 5 years; light rehab and reliable rental demand; priced above the buy box.
38134	56	B	Raleigh (east), Bartlett (south), Elmore Park, Shelby Oaks	—	$223K	Data average $1,206 Highland Realty rent estimate $1,356 to $1,456	+17.6%	1979-median homes, ~$223K typical, ~$1,200 rent (Highland Realty rent estimate $1,356 to $1,456), ~5% vacancy, C- crime. Values are up ~18% over 5 years (the best non-redevelopment trend in the guide) and +1% YoY; light-to-moderate rehab.
38135	71	A	Bartlett (north), Ellendale, Raleigh–LaGrange	—	$295K	Data average $1,799 Highland Realty rent estimate $1,949 to $2,049	+15.5%	1990s single-family (92% SF), ~$295K typical, ~$1,800 rent (Highland Realty rent estimate $1,949 to $2,049), ~2% vacancy, A- crime, B schools, values up ~16% over 5 years. Top-tier stability with light rehab, but well above buy-box prices.
38138	66	A	Germantown (west / central): separate city with its own police and codes	—	$429K	Data average $2,259 Highland Realty rent estimate $2,409 to $2,509	+11.8%	Premium suburb: ~$429K typical, ~$2,260 rent (Highland Realty rent estimate $2,409 to $2,509), ~4% vacancy, A crime and A schools, values up ~12% over 5 years. Appreciation and rental demand are strong; cash flow is thin.
38139	71	A	Germantown (east), Forest Hill / Shelby Farms south edge	—	$585K	Data average $2,697 (Census) Highland Realty rent estimate $2,847 to $2,947	+14.2%	Highest values in the guide (~$585K), 97% owner-occupied, A crime, A+ schools, very few rentals (rent figure is Census, approximate: data average $2,697 (Census), Highland Realty rent estimate $2,847 to $2,947). An appreciation-only market.
38141	63	B	Hickory Hill (south), Ridgeway–Hacks Cross, Shelby Drive area	—	$188K	Data average $1,570 Highland Realty rent estimate $1,720 to $1,820	+13.5%	1985-median homes, 85% single-family, ~$188K typical, ~$1,570 rent (Highland Realty rent estimate $1,720 to $1,820), ~3% vacancy, values up ~14% over 5 years. Crime grades F nationally but the rate (82 per 1,000) is well below most Memphis zips; light-to-moderate rehab.
38016	55	B	Cordova (north): Germantown Pkwy / Wolfchase	—	$290K	Data average $1,495 Highland Realty rent estimate $1,645 to $1,745	+9.8%	Newer stock (1998 median), ~$290K typical, ~$1,500 rent (Highland Realty rent estimate $1,645 to $1,745), B- crime; ~8% vacancy (apartment-heavy pockets). Values are up ~10% over 5 years; light rehab.
38018	60	B	Cordova (south), Shelby Farms east	—	$287K	Data average $1,658 Highland Realty rent estimate $1,808 to $1,908	+9.5%	1997-median homes, ~$287K typical, ~$1,660 rent (Highland Realty rent estimate $1,808 to $1,908), ~5% vacancy, B- crime. Values are up ~10% over 5 years; light rehab.

Housing stock, vouchers, crime, and schools

Vacancy and owner-occupancy are Census ACS 2020–2024. Vouchers are approximate (HUD, allocated by land-area overlap) and are shown for rental-demand context only; they are not in the score. Crime is reported crimes per 1,000 residents (CrimeGrade, November 2026). School figures are SchoolGrade via CrimeGrade and are not in the score.

Swipe the table to see all columns.

Zip	Grade	Vacancy	Owner-occ.	Single-family	Median yr built	Rehab (inferred)	Vouchers / 100 rentals	Crimes / 1,000	Schools
38103	F	10%	32%	19%	1999	Light	6.5	216 / F	F / 23%
38104	F	11%	38%	37%	1949	Moderate	2.1	185 / F	D / 30%
38105	F	24%	14%	20%	1970	Moderate	24.1	251 / F	F / 21%
38106	D	23%	39%	79%	1954	Heavy	9.7	248 / F	F / 14%
38107	D	17%	38%	63%	1954	Heavy	9.0	216 / F	F / 23%
38108	C	16%	46%	78%	1956	Heavy	6.3	186 / F	F / 23%
38109	C	12%	56%	87%	1964	Moderate	12.3	153 / F	F / 20%
38111	C	11%	44%	65%	1956	Moderate	4.2	128 / F	D− / 27%
38112	D	13%	52%	63%	1950	Moderate	3.6	172 / F	D− / 26%
38114	F	23%	46%	65%	1955	Heavy	8.9	248 / F	F / 23%
38115	D	15%	23%	32%	1981	Light	3.4	167 / F	F / 25%
38116	D	16%	43%	46%	1966	Moderate	5.8	184 / F	F / 24%
38117	B	5%	76%	82%	1958	Light–moderate	1.6	86 / C+	D− / 28%
38118	D	19%	40%	57%	1973	Moderate	5.9	187 / F	F / 20%
38119	B	6%	60%	54%	1979	Light–moderate	0.7	77 / C	D / 29%
38120	B	6%	72%	75%	1976	Light–moderate	0.0	72 / B+	B+ / 45%
38122	C	7%	53%	77%	1956	Moderate	1.6	147 / F	D / 32%
38125	B	5%	54%	66%	1996	Light	2.2	65 / C−	C− / 39%
38126	D	14%	12%	29%	1979	Moderate	22.1	265 / F	F / 20%
38127	D	18%	42%	77%	1966	Moderate–heavy	10.4	177 / F	F / 23%
38128	C	12%	42%	63%	1975	Moderate	6.4	138 / F	F / 22%
38133	B	4%	68%	81%	1993	Light	1.6	66 / B+	B+ / 45%
38134	B	5%	47%	58%	1979	Light–moderate	1.6	88 / C−	C / 36%
38135	A	2%	81%	92%	1993	Light	2.3	25 / A−	B / 44%
38138	A	4%	80%	76%	1979	Light–moderate	0.3	32 / A	A / 52%
38139	A	2%	97%	97%	1989	Light	0.0	15 / A	A+ / 63%
38141	B	3%	56%	85%	1985	Light–moderate	6.1	82 / F	F / 20%
38016	B	8%	55%	58%	1998	Light	0.3	57 / B−	D / 33%
38018	B	5%	62%	79%	1997	Light	0.3	51 / B−	D+ / 34%

FAQ

Common questions

How do you underwrite deals?

We use available data on properties that have been bought and sold nearby, plus our best judgment from historical experience. Treat our numbers as a starting point, and get verifications from a trusted contractor like our partner, Red Rock Construction. Home Run is all-in under 65% of ARV; Sweet Spot is 65% to under 80%.

Are deals in other areas possible?

Absolutely. We’re happy to look at any deal, on a deal-by-deal basis. Send us what you have.

Where does this data come from?

From investors we work with, plus public sources like the U.S. Census, Zillow, and crime and school rating sites. The full list is at the bottom of this page.

How often is the guide updated?

The guide is updated periodically as the data changes. Figures are estimates as of the date at the top of this page, and they can change.

Can you manage the property after I buy?

Yes. Highland Realty Services also manages properties for investors after you buy. See our property management page, or talk to us.

How do I get hot deals?

Join the list on our Talk to us page, or manage your choices on Contact preferences. We send a Hot Deal email when a new deal drops.

Limits

Notes and limits

Not covered. 38131 and 38132 (airport and industrial, essentially no residents in Census data), 38152 (University of Memphis campus), and PO-box or single-business zips. 38138 and 38139 are Germantown addresses and 38133–38135 are often Bartlett addresses; they are included because they are 381xx Shelby County zips.
Rent yields are gross and overstated in low-price zips. Zillow’s rent index blends apartments and houses, and the yield ignores taxes, insurance, vacancy, repairs, and management. Use it to compare zips, not to underwrite a deal.
Census vs. Zillow values can differ a lot (for example 38112: ~$252K Census vs. ~$120K Zillow; 38111: ~$190K vs. ~$131K). Census is owner-reported over 2020–2024; Zillow is a current model.
Voucher counts come from HUD tract-level data, allocated to zips by land-area overlap, so they are approximate. 38120 and 38139 show no reported vouchers (suppressed or none).
The rehab level is inferred from median year built and price. It is not an inspection finding.
Crime. CrimeGrade estimates reported crime per resident. Downtown and commercial zips (38103, 38105, 38126) are inflated by non-resident activity. Memphis-wide reported violent crime is up ~31% since 2019, and property crime fell ~20% in 2024 (CrimeGrade, from FBI data).
Neighborhood names are common local names and are approximate. Zip lines do not follow neighborhood lines exactly.

Sources

Main data sources

U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (tables B25077, B25064, B25002, B25003, B25035, B25024, B01003), via Census Reporter API: https://censusreporter.org
Zillow Research: Zillow Home Value Index (ZHVI, mid-tier, all homes) and Zillow Observed Rent Index (ZORI) by zip, data through September 30, 2026: https://www.zillow.com/research/data/
CrimeGrade.org zip pages, updated November 2026 (crime rates per 1,000 residents and grades; school proficiency from SchoolGrade): https://crimegrade.org
HUD Housing Choice Vouchers by Tract (HUD eGIS open data) and the Census 2020 ZCTA-to-tract relationship file, used for the voucher allocation.
Zip boundaries on the maps: U.S. Census Bureau TIGER/Line 2020 ZCTAs (cartographic 500k).

Memphis ZIP guide

How we grade

Memphis zip map

Our buy-and-hold sweet spot

Southern Raleigh into eastern Frayser

Berclair through East Memphis into northern Parkway Village

Western Hickory Hill

Eastern Westwood

Buy-box zips at a glance

B and C areas

B and C breakdown

Grade B: 9 zips

38016 · Cordova (north): Germantown Pkwy / Wolfchase · Grade B

38018 · Cordova (south), Shelby Farms east · Grade B

38117 · East Memphis: White Station, Sea Isle, Red Acres, Colonial Acres, Poplar–Perkins · Grade B

38119 · Kirby, Balmoral, Ridgeway, Poplar–Kirby, River Oaks (part) · Grade B

38120 · River Oaks, Walnut Grove, Shady Grove, East Memphis Poplar corridor · Grade B

38125 · Hickory Hill (south), Southwind, Riverdale, Windyke · Grade B

38133 · Bartlett (south), Wolfchase area (Memphis/Bartlett addresses) · Grade B

38134 · Raleigh (east), Bartlett (south), Elmore Park, Shelby Oaks · Grade B

38141 · Hickory Hill (south), Ridgeway–Hacks Cross, Shelby Drive area · Grade B

Grade C: 5 zips

38108 · Nutbush, Hollywood, Chickasaw Heights, north Highland Heights · Grade C ✅ Buy box

38109 · Westwood, Whitehaven (west), Boxtown / Westhaven, Indian Hills · Grade C ✅ Buy box

38111 · University District / U of M, Normal Station, Sherwood Forest, Chickasaw Gardens area, south Highland Heights · Grade C ✅ Buy box

38122 · Berclair, Highland Heights (east), Grahamwood, Summer Ave corridor · Grade C ✅ Buy box

38128 · Raleigh, Raleigh Springs / Austin Peay corridor, Coleman Rd area · Grade C ✅ Buy box

Our notes, zip by zip

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Data table

Housing stock, vouchers, crime, and schools

Common questions

Notes and limits

Main data sources