PlainZIP

Memphis, TN · standard

ZIP Code 38120

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

14,237
570/sq mi
$123,538
Median income
$460,700
Median home value
70.4%
Bachelor's or higher

The verdict

Memphis pairs a top-decile household income with upper-quartile home values, in a low-density, homeowner-dominated area.

Top 9%
household income, US ZIPs
Top 15%
home value, US ZIPs
570
people per sq mi
72%
owner-occupied homes

Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 38120 against every reporting US ZIP.

ZIP code 38120 is a mid-sized community (a standard USPS delivery area) in Memphis, Shelby County, Tennessee, home to 14,237 residents across 25.0 square miles, a density of 570 people per square mile, in the Chicago time zone.

ZIP 38120 skews affluent, with a median household income of $123,538 (86% above the Tennessee average), while per-capita income is $108,686. 7.9% of residents live below the poverty line, and the unemployment rate reads 2.1%. The typical home here is valued at $460,700 (86% above the state average); renters pay a median of $1,705 monthly, and 71.5% of units are owner-occupied.

This is a highly-educated ZIP: 70.4% of adults hold a bachelor's degree or higher, the median age is 44.4, and the average commute is 17 minutes. To put 38120 in local context, 10 ZIP codes within roughly 10 miles appear further down this page alongside 6 additional ZIPs in Shelby County, for a geography-aware comparison.

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 38120

Top 5 sectors by establishment count in Memphis, TN

Which industries have the most business establishments in ZIP 38120.

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 38120, 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

14,237

Population

25.0

Area (sq mi)

570

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 38120?

44.4

Median Age

48.4%

Male

51.6%

Female

6.2%

Foreign-Born

White 85.0%
African American 5.4%
Asian 5.1%
American Indian or Alaska Native 0.1%
Native Hawaiian or Pacific Islander 0.0%
Two or More Ethnicities 3.7%
Hispanic or Latino 4.0%

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?

$123,538

Median Household Income

+86% vs state

$108,686

Per Capita Income

7.9%

Poverty Rate

2.1%

Unemployment Rate

17.4 min

Mean Commute Time

How ZIP 38120 ranks nationally

Memphis, TN household income vs. every US ZIP code

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

$123,538 Top 9% higher than 91% 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%). Below this entry. $60,000–$80,000: 9,980 US ZIPs (33%). Below this entry. $80,000–$100,000: 5,778 US ZIPs (19%). Below this entry. $100,000–$120,000: 2,855 US ZIPs (9%). Below this entry. $120,000–$140,000: 1,362 US ZIPs (4%). This entry sits in this band. $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 78.5%
Bachelor's Degree or Higher 70.4%

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

What does housing look like?

6,507

Total Housing Units

6,092

Occupied Units

415

Vacant Units

2.17

Avg Household Size

Occupancy Type

Owner 71.5%
Renter 28.5%

$460,700

Median Home Value

+86% vs state

$1,705

Median Rent

1976

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

-0.8%

YoY Change (2024)

197

HPI Index (2000 = 100)

+97%

Total Change Since 2000

Home values in ZIP 38120 have decreased 0.8% over the past year (2024). Since 2000, this ZIP has seen +97% cumulative appreciation.

Year Annual Change HPI Index
2020 +3.4% 156
2021 +9.5% 171
2022 +12.9% 193
2023 +3.4% 199
2024 -0.8% 197

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 604 business establishments in ZIP 38120, employing approximately 16,399 people with a combined annual payroll of $1,778,184,000.

604

Businesses

16,399

Employees

$1.8B

Annual Payroll

16

Industry Sectors

Industry Establishments % of Total
Health care and social assistance 145 24.0%
Professional, scientific, and technical services 104 17.2%
Finance and insurance 80 13.3%
Real estate and rental and leasing 52 8.6%
Management of companies and enterprises 36 6.0%
Administrative and support and waste management and remediation services 36 6.0%
Other services (except public administration) 25 4.1%
Transportation and warehousing 24 4.0%
Accommodation and food services 24 4.0%
Wholesale trade 18 3.0%
Construction 16 2.6%
Retail trade 12 2.0%
Arts, entertainment, and recreation 12 2.0%
Educational services 9 1.5%
Information 7 1.2%
Manufacturing 4 0.7%

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 38120 vs 38119 →

ZIP 38120 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 38120 ranks #0 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 38120 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 38120 ranks #2 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 3.0 mi
38134 Memphis, TN 41,948 3.7 mi
38117 Memphis, TN 26,125 3.1 mi
38115 Memphis, TN 39,129 4.8 mi
38152 Memphis, TN 834 4.6 mi
38138 Germantown, TN 24,045 4.0 mi
38018 Cordova, TN 35,059 5.0 mi
38122 Memphis, TN 25,270 4.6 mi
38111 Memphis, TN 41,742 5.3 mi
38141 Memphis, TN 22,462 7.4 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 38120 in? ▼
ZIP code 38120 (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 38120? ▼
ZIP code 38120 in Memphis, TN has a population of 14,237 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 38120? ▼
The median household income in ZIP 38120 is $123,538, which is 62% above the national average of $76,288.
What is the average home value in ZIP 38120? ▼
The median home value in ZIP 38120 is $460,700, which is 66% above the national average of $278,155.
What is the demographic makeup of ZIP 38120? ▼
The largest racial group in ZIP 38120 is White at 85.0%. Hispanic or Latino residents make up 4.0% of the population.
How many businesses are in ZIP code 38120? ▼
ZIP code 38120 has 604 business establishments employing approximately 16,399 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 38120? ▼
The top industries by establishment count in ZIP 38120 are: Health care and social assistance (145), Professional, scientific, and technical services (104), Finance and insurance (80). There are 16 industry sectors represented in total.
How have home values changed in ZIP code 38120? ▼
According to the FHFA House Price Index, home values in ZIP 38120 decreased by 0.8% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 97%. 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 38120? ▼
In ZIP code 38120, 78.5% of residents aged 25+ have a high school diploma or higher, and 70.4% 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 38120? ▼
The mean commute time for workers in ZIP code 38120 is 17.4 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 38120? ▼
In ZIP code 38120, approximately 71.5% of occupied housing units are owner-occupied and 28.5% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 38120? ▼
The poverty rate in ZIP code 38120 is 7.9% 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.