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 High-density area
- $45,636
- Median income Below-median income area
- $145,400
- Median home value Below-median home value
- 16.5%
- Bachelor's or higher Below-average bachelor's attainment
National ZIP placement
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 average Tennessee ZIP), while per-capita income is $25,274. The poverty rate is 18.8%, with unemployment at 8.4%; those measures add context to the income figure. Home values sit below the statewide ZIP benchmark: the median is $145,400 (41% below the average Tennessee ZIP), and median rent is $1,185; owner occupancy is 23.4%.
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. The page also surfaces 10 ZIP codes within roughly 10 miles and 6 more in Shelby County, so 38115 can be compared with both its immediate and county-level context.
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.
- Retail trade
Retail trade
198 establishments
- Accommodation and food services
Accommodation and food services
82 establishments
- Health care and social assistance 74
Health care and social assistance
74 establishments
- Administrative and support and waste management and remediation services 56
Administrative and support and waste management and remediation services
56 establishments
- Other services (except public administration) 56
Other services (except public administration)
56 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, 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
Who lives in ZIP 38115?
29.9
Median Age
46.5%
Male
53.5%
Female
8.1%
Foreign-Born
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 ZIP avg
$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
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?
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What does housing look like?
Housing stock: occupied vs vacant
19,031housing units
19,031
Total Housing Units
16,117
Occupied Units
2,914
Vacant Units
2.38
Avg Household Size
Occupancy Type
$145,400
Median Home Value
-41% vs state ZIP avg
$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.
- 38134
Memphis (38134)
41,948 residents
- 38111
Memphis (38111)
41,742 residents
- 38118
Memphis (38118)
41,465 residents
- 38115
Memphis (38115)
39,129 residents
- 38125
Memphis (38125)
36,150 residents
- 38117
Memphis (38117)
26,125 residents
- 38138
Germantown (38138)
24,045 residents
- 38141
Memphis (38141)
22,462 residents
- 38119
Memphis (38119)
22,330 residents
What this shows Among its immediate neighbors, ZIP 38115 ranks #4 by population - useful context the national average alone can't give.
ZIP 38115 vs its nearest neighbors, by median income
Median household income of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 38138
Germantown (38138)
$136,297 median income
- 38120
Memphis (38120)
$123,538 median income
- 38119
Memphis (38119)
$89,289 median income
- 38125
Memphis (38125)
$86,162 median income
- 38117
Memphis (38117)
$85,633 median income
- 38141
Memphis (38141)
$60,817 median income
- 38134
Memphis (38134)
$60,622 median income
- 38111 $52,589
Memphis (38111)
$52,589 median income
- 38115 $45,636
Memphis (38115)
$45,636 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.
| 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 |
Nationwide ZIPs with similar ACS profiles
Two Census-derived peer sets for ZIP 38115, both outside TN so the neighborhoods are not geographic containment (Nearby and same-county blocks stay local).
Similar population
Nearest cross-state ZIPs by resident population (39,129 here; floor ≥1,000).
Similar median household income
Nearest cross-state ZIPs by ACS median household income.
More ZIP Codes in Shelby County
Related Areas
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.
Related
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What to do with ZIP 38115's numbers, next.
- See how ZIP 38115 compares to a neighboring ZIP code on the same Census fields Compare this ZIP
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ZIP Code Tabulation Areas (ZCTAs) are Census Bureau approximations of USPS ZIP codes; figures describe the ZCTA area, not any single address within it.