Memphis, TN · standard
ZIP Code 38128
Shelby County, Tennessee - Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.
- 44,863
- 733/sq mi High-density area
- $47,645
- Median income Below-median income area
- $138,000
- Median home value Below-median home value
- 14.0%
- 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, mixed-tenure area.
- 12th pct
- household income, US ZIPs
- 22nd pct
- home value, US ZIPs
- 733
- people per sq mi
- 42%
- owner-occupied homes
Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 38128 against every reporting US ZIP.
FHFA HPI release change
What changed in the latest House Price Index year
- FHFA House Price Index values in ZIP 38128 (Memphis, TN) rose +9.2% from 2023 to 2024. The all-transactions index moved from 189.0 in 2023 to 206.3 in 2024 (2000 = 100).
ZIP code 38128 is a densely settled ZIP (a standard USPS delivery area) in Memphis, Shelby County, Tennessee, with 44,863 residents across 61.2 square miles, a density of 733 people per square mile, in the Chicago time zone.
ZIP 38128 reports a modest median household income of $47,645 (28% below the average Tennessee ZIP), while per-capita income is $25,644. The poverty rate is 20.0%, so the area-level income figures should not be treated as typical household experience. Home values sit below the statewide ZIP benchmark: the median is $138,000 (44% below the average Tennessee ZIP), and median rent is $1,196; owner occupancy is 42.1%.
Formal educational attainment runs low here: just 14.0% of adults hold a bachelor's degree or higher, the median age is 31.5, and the average commute is 23 minutes. The page also surfaces 10 ZIP codes within roughly 10 miles and 6 more in Shelby County, so 38128 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 38128
Top 5 sectors by establishment count in Memphis, TN
Which industries have the most business establishments in ZIP 38128.
- Retail trade
Retail trade
121 establishments
- Health care and social assistance
Health care and social assistance
61 establishments
- Other services (except public administration)
Other services (except public administration)
57 establishments
- Accommodation and food services
Accommodation and food services
52 establishments
- Real estate and rental and leasing 30
Real estate and rental and leasing
30 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 38128, 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
44,863
Population
61.2
Area (sq mi)
733
People / sq mi
Chicago
Time Zone
standard
ZIP Type
Who lives in ZIP 38128?
31.5
Median Age
46.3%
Male
53.7%
Female
5.2%
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?
$47,645
Median Household Income
-28% vs state ZIP avg
$25,644
Per Capita Income
20.0%
Poverty Rate
6.9%
Unemployment Rate
23.2 min
Mean Commute Time
How ZIP 38128 ranks nationally
Memphis, TN household income vs. every US ZIP code
Median household income, the full national distribution, with this ZIP marked
$47,645 12th percentile higher than 12% 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
18,059housing units
18,059
Total Housing Units
15,864
Occupied Units
2,195
Vacant Units
2.64
Avg Household Size
Occupancy Type
$138,000
Median Home Value
-44% vs state ZIP avg
$1,196
Median Rent
1975
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
+9.2%
YoY Change (2024)
206
HPI Index (2000 = 100)
+106%
Total Change Since 2000
Home values in ZIP 38128 have increased 9.2% over the past year (2024). Since 2000, this ZIP has seen +106% cumulative appreciation.
| Year | Annual Change | HPI Index |
|---|---|---|
| 2020 | +12.1% | 132 |
| 2021 | +9.5% | 144 |
| 2022 | +22.5% | 176 |
| 2023 | +7.1% | 189 |
| 2024 | +9.2% | 206 |
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 439 business establishments in ZIP 38128, employing approximately 10,083 people with a combined annual payroll of $467,774,000.
439
Businesses
10,083
Employees
$467.8M
Annual Payroll
13
Industry Sectors
| Industry | Establishments | % of Total |
|---|---|---|
| Retail trade | 121 | 27.6% |
| Health care and social assistance | 61 | 13.9% |
| Other services (except public administration) | 57 | 13.0% |
| Accommodation and food services | 52 | 11.8% |
| Real estate and rental and leasing | 30 | 6.8% |
| Finance and insurance | 28 | 6.4% |
| Transportation and warehousing | 20 | 4.6% |
| Construction | 17 | 3.9% |
| Professional, scientific, and technical services | 17 | 3.9% |
| Administrative and support and waste management and remediation services | 16 | 3.6% |
| Wholesale trade | 7 | 1.6% |
| Educational services | 6 | 1.4% |
| Information | 3 | 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 38128 vs 38122 →
ZIP 38128 vs its nearest neighbors, by population
Resident population of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 38127
Memphis (38127)
45,248 residents
- 38128
Memphis (38128)
44,863 residents
- 38134
Memphis (38134)
41,948 residents
- 38111
Memphis (38111)
41,742 residents
- 38135
Memphis (38135)
30,657 residents
- 38117
Memphis (38117)
26,125 residents
- 38122
Memphis (38122)
25,270 residents
- 38108
Memphis (38108)
18,729 residents
- 38112 17,472
Memphis (38112)
17,472 residents
What this shows Among its immediate neighbors, ZIP 38128 ranks #2 by population - useful context the national average alone can't give.
ZIP 38128 vs its nearest neighbors, by median income
Median household income of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 38135
Memphis (38135)
$97,282 median income
- 38117
Memphis (38117)
$85,633 median income
- 38134
Memphis (38134)
$60,622 median income
- 38112
Memphis (38112)
$55,207 median income
- 38111
Memphis (38111)
$52,589 median income
- 38122
Memphis (38122)
$48,710 median income
- 38128
Memphis (38128)
$47,645 median income
- 38127 $36,901
Memphis (38127)
$36,901 median income
- 38108 $36,257
Memphis (38108)
$36,257 median income
What this shows By household income, ZIP 38128 ranks #7 of 9 neighboring ZIPs, local affluence varies block to block, not just metro to metro.
| ZIP Code | City | Population | Distance |
|---|---|---|---|
| 38122 | Memphis, TN | 25,270 | 4.6 mi |
| 38135 | Memphis, TN | 30,657 | 4.4 mi |
| 38108 | Memphis, TN | 18,729 | 4.2 mi |
| 38127 | Memphis, TN | 45,248 | 5.2 mi |
| 38152 | Memphis, TN | 834 | 7.2 mi |
| 38134 | Memphis, TN | 41,948 | 5.1 mi |
| 38029 | Ellendale, TN | 80 | 6.0 mi |
| 38112 | Memphis, TN | 17,472 | 6.1 mi |
| 38117 | Memphis, TN | 26,125 | 7.8 mi |
| 38111 | Memphis, TN | 41,742 | 8.1 mi |
Nationwide ZIPs with similar ACS profiles
Two Census-derived peer sets for ZIP 38128, 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 (44,863 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 38128 in?
ZIP code 38128 (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 38128?
ZIP code 38128 in Memphis, TN has a population of 44,863 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 38128?
The median household income in ZIP 38128 is $47,645, which is 38% below the national average of $76,288.
What is the average home value in ZIP 38128?
The median home value in ZIP 38128 is $138,000, which is 50% below the national average of $278,155.
What is the demographic makeup of ZIP 38128?
The largest racial group in ZIP 38128 is African American at 78.2%. Hispanic or Latino residents make up 9.3% of the population.
How many businesses are in ZIP code 38128?
ZIP code 38128 has 439 business establishments employing approximately 10,083 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 38128?
The top industries by establishment count in ZIP 38128 are: Retail trade (121), Health care and social assistance (61), Other services (except public administration) (57). There are 13 industry sectors represented in total.
How have home values changed in ZIP code 38128?
According to the FHFA House Price Index, home values in ZIP 38128 increased by 9.2% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 106%. 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 38128?
In ZIP code 38128, 51.4% of residents aged 25+ have a high school diploma or higher, and 14.0% 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 38128?
The mean commute time for workers in ZIP code 38128 is 23.2 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 38128?
In ZIP code 38128, approximately 42.1% of occupied housing units are owner-occupied and 57.9% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 38128?
The poverty rate in ZIP code 38128 is 20.0% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.
Related
Take this with you
What to do with ZIP 38128's numbers, next.
- See how ZIP 38128 compares to a neighboring ZIP code on the same Census fields Compare this ZIP
- Check where Memphis, TN ranks among every U.S. ZIP code on income, education, or homeownership View national rankings
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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.