PlainZIP

Memphis, TN · standard

ZIP Code 38115

Shelby County, Tennessee - Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.

39,129
1,761/sq mi
$45,636
Median income
$145,400
Median home value
16.5%
Bachelor's or higher

The verdict

Memphis pairs one of the lowest household incomes in the country with among the most affordable home values nationally, in a low-density, renter-heavy area.

10th pct
household income, US ZIPs
24th pct
home value, US ZIPs
1,761
people per sq mi
23%
owner-occupied homes

Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 38115 against every reporting US ZIP.

ZIP code 38115 is a densely settled ZIP (a standard USPS delivery area) in Memphis, Shelby County, Tennessee, with 39,129 residents across 22.2 square miles, a density of 1,761 people per square mile, in the Chicago time zone.

ZIP 38115 reports a modest median household income of $45,636 (31% below the Tennessee average), while per-capita income is $25,274. Poverty here runs at 18.8%, with unemployment measured at 8.4%. The typical home here is valued at $145,400 (41% below the state average); renters pay a median of $1,185 monthly, and 23.4% of units are owner-occupied.

Educational attainment sits below the national norm: 16.5% of adults hold a bachelor's degree or higher, the median age is 29.9, and the average commute is 20 minutes. We also surface 10 nearby ZIP codes within roughly 10 miles and 6 additional ZIPs sharing Shelby County, so you can benchmark 38115 against its immediate geography rather than a national average alone.

Every figure on this page is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates (including median rent) and the FHFA House Price Index, no estimates, no proprietary scoring. Verify with Census →

Top industries in ZIP 38115

Top 5 sectors by establishment count in Memphis, TN

Which industries have the most business establishments in ZIP 38115.

establishments

What this shows Establishment counts come from the Census ZIP Code Business Patterns program, which counts physical business locations rather than employees or revenue.

Source U.S. Census Bureau · ZIP Code Business Patterns (ZBP) As of 2023

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + FHFA HPI ACS demographics and median rent, ZBP business establishments, FHFA HPI for ZIP 38115, Memphis, TN · 2023 Census ACS 5-Year Estimates use a rolling 60-month sample for stable small-geography estimates; ZBP updated annually; FHFA HPI updated quarterly/annually.

Quick Facts

39,129

Population

22.2

Area (sq mi)

1,761

People / sq mi

Chicago

Time Zone

standard

ZIP Type

Neighborhood Scorecard
Get an A-F grade across income, safety, housing, rent, education, commute, and childcare for this ZIP code.
View Scorecard →

Who lives in ZIP 38115?

29.9

Median Age

46.5%

Male

53.5%

Female

8.1%

Foreign-Born

White 6.9%
African American 81.9%
Asian 0.2%
American Indian or Alaska Native 0.4%
Native Hawaiian or Pacific Islander 0.2%
Two or More Ethnicities 4.0%
Hispanic or Latino 11.3%

Hispanic or Latino is an ethnicity category from the Census Bureau and may overlap with other categories above.

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

How much do residents earn?

$45,636

Median Household Income

-31% vs state

$25,274

Per Capita Income

18.8%

Poverty Rate

8.4%

Unemployment Rate

19.5 min

Mean Commute Time

How ZIP 38115 ranks nationally

Memphis, TN household income vs. every US ZIP code

Median household income, the full national distribution, with this ZIP marked

$45,636 10th percentile higher than 10% of 30,318 US ZIPs

$0–$20,000: 118 US ZIPs (0%). Below this entry. $20,000–$40,000: 1,573 US ZIPs (5%). Below this entry. $40,000–$60,000: 7,092 US ZIPs (23%). This entry sits in this band. $60,000–$80,000: 9,980 US ZIPs (33%). Above this entry. $80,000–$100,000: 5,778 US ZIPs (19%). Above this entry. $100,000–$120,000: 2,855 US ZIPs (9%). Above this entry. $120,000–$140,000: 1,362 US ZIPs (4%). Above this entry. $140,000–$160,000: 686 US ZIPs (2%). Above this entry. $160,000–$180,000: 364 US ZIPs (1%). Above this entry. $180,000–$200,000: 186 US ZIPs (1%). Above this entry. $200,000–$220,000: 324 US ZIPs (1%). Above this entry. This ZIP $0 $200K+ every reporting US ZIP, bucketed by value

Each bar is a $20K-wide band; taller bars hold more US ZIPs. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.

Source U.S. Census Bureau, ACS 5-Year Estimates · 2019–2023

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

What is the education profile here?

High School Graduate or Higher 54.4%
Bachelor's Degree or Higher 16.5%

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

What does housing look like?

19,031

Total Housing Units

16,117

Occupied Units

2,914

Vacant Units

2.38

Avg Household Size

Occupancy Type

Owner 23.4%
Renter 76.6%

$145,400

Median Home Value

-41% vs state

$1,185

Median Rent

1981

Median Year Built

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

How have home values changed over time?

FHFA House Price Index, annual appreciation data based on repeat sales and appraisals

+0.6%

YoY Change (2024)

204

HPI Index (2000 = 100)

+104%

Total Change Since 2000

Home values in ZIP 38115 have increased 0.6% over the past year (2024). Since 2000, this ZIP has seen +104% cumulative appreciation.

Year Annual Change HPI Index
2020 +6.6% 134
2021 +13.1% 152
2022 +24.1% 188
2023 +7.7% 203
2024 +0.6% 204

Source: Federal Housing Finance Agency (FHFA) House Price Index, All-Transactions, Five-Digit ZIP Codes (Developmental Index). Index base = 100 in year 2000. Data through 2024. ZIP codes with few transactions may show missing values.

What businesses operate in this ZIP?

Census Bureau data shows 730 business establishments in ZIP 38115, employing approximately 14,618 people with a combined annual payroll of $653,821,000.

730

Businesses

14,618

Employees

$653.8M

Annual Payroll

16

Industry Sectors

Industry Establishments % of Total
Retail trade 198 27.1%
Accommodation and food services 82 11.2%
Health care and social assistance 74 10.1%
Administrative and support and waste management and remediation services 56 7.7%
Other services (except public administration) 56 7.7%
Finance and insurance 51 7.0%
Real estate and rental and leasing 48 6.6%
Professional, scientific, and technical services 45 6.2%
Wholesale trade 34 4.7%
Transportation and warehousing 31 4.3%
Construction 20 2.7%
Information 9 1.2%
Management of companies and enterprises 8 1.1%
Educational services 8 1.1%
Manufacturing 7 1.0%
Arts, entertainment, and recreation 3 0.4%

Source: U.S. Census Bureau, ZIP Code Business Patterns (ZBP), 2023. Employment figures may include noise for disclosure avoidance.

Nearby ZIP Codes

Want a side-by-side? Compare 38115 vs 38119 →

ZIP 38115 vs its nearest neighbors, by population

Resident population of this ZIP and the closest reporting ZIP codes within ~10 miles.

residents

What this shows Among its immediate neighbors, ZIP 38115 ranks #4 by population - useful context the national average alone can't give.

Source U.S. Census Bureau · ACS 5-Year Estimates As of 2019–2023

ZIP 38115 vs its nearest neighbors, by median income

Median household income of this ZIP and the closest reporting ZIP codes within ~10 miles.

median income

What this shows By household income, ZIP 38115 ranks #9 of 9 neighboring ZIPs, local affluence varies block to block, not just metro to metro.

Source U.S. Census Bureau · ACS 5-Year Estimates As of 2019–2023
ZIP Code City Population Distance
38119 Memphis, TN 22,330 2.0 mi
38141 Memphis, TN 22,462 2.7 mi
38120 Memphis, TN 14,237 4.8 mi
38118 Memphis, TN 41,465 4.1 mi
38138 Germantown, TN 24,045 4.2 mi
38117 Memphis, TN 26,125 4.8 mi
38125 Memphis, TN 36,150 4.7 mi
38134 Memphis, TN 41,948 8.4 mi
38111 Memphis, TN 41,742 5.9 mi
38152 Memphis, TN 834 6.1 mi

More ZIP Codes in Shelby County

38017 standard
Collierville, TN
Pop: 48,642
38109 standard
Memphis, TN
Pop: 46,594
38127 standard
Memphis, TN
Pop: 45,248
38128 standard
Memphis, TN
Pop: 44,863
38016 standard
Cordova, TN
Pop: 43,079
38134 standard
Memphis, TN
Pop: 41,948

Related Areas

Shelby County Memphis, TN Tennessee

Frequently Asked Questions

What county is ZIP code 38115 in? ▼
ZIP code 38115 (Memphis) is located in Shelby County, Tennessee. Shelby County contains multiple ZIP codes, see the full list at /counties/shelby-tn.
What is the population of ZIP code 38115? ▼
ZIP code 38115 in Memphis, TN has a population of 39,129 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 38115? ▼
The median household income in ZIP 38115 is $45,636, which is 40% below the national average of $76,288.
What is the average home value in ZIP 38115? ▼
The median home value in ZIP 38115 is $145,400, which is 48% below the national average of $278,155.
What is the demographic makeup of ZIP 38115? ▼
The largest racial group in ZIP 38115 is African American at 81.9%. Hispanic or Latino residents make up 11.3% of the population.
How many businesses are in ZIP code 38115? ▼
ZIP code 38115 has 730 business establishments employing approximately 14,618 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 38115? ▼
The top industries by establishment count in ZIP 38115 are: Retail trade (198), Accommodation and food services (82), Health care and social assistance (74). There are 16 industry sectors represented in total.
How have home values changed in ZIP code 38115? ▼
According to the FHFA House Price Index, home values in ZIP 38115 increased by 0.6% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 104%. This is a developmental index based on repeat sales and appraisal data from Fannie Mae and Freddie Mac.
What is the education level in ZIP code 38115? ▼
In ZIP code 38115, 54.4% of residents aged 25+ have a high school diploma or higher, and 16.5% hold a bachelor's degree or higher. These figures come from the Census Bureau ACS 5-Year Estimates (2023).
What is the average commute time in ZIP 38115? ▼
The mean commute time for workers in ZIP code 38115 is 19.5 minutes according to Census ACS data. The national average is roughly 26 minutes, so commuters here spend less time traveling to work than typical.
What percentage of residents own vs. rent in ZIP 38115? ▼
In ZIP code 38115, approximately 23.4% of occupied housing units are owner-occupied and 76.6% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 38115? ▼
The poverty rate in ZIP code 38115 is 18.8% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.

Read our methodology to see how this data is sourced, computed, and verified.