Memphis - 38115

As of October of 2024, Homes in 38115 ZIP Code have depreciated by -1.34%, with the median home value standing at $168,496, according to Zillow.

There are currently 30 active short-term rentals in 38115 ZIP Code. The average daily rate for these rentals is $139. This translates to an annual revenue of $21,546 for short-term rentals as of October of 2024.

38115 ZIP Code is an investor-friendly location with short-term rental regulations favorable to those looking to invest in short-term rentals.

As of October of 2024, the average gross yield for short-term rentals in 38115 ZIP Code is 12.86%. However, potential investors should also consider the average property tax, which stands at 1.25% according to SmartAsset.

The median household income in 38115 is $58,231.

As of October of 2024, the occupancy rate for Airbnb rentals in 38115 is 52%, which is lower than the average occupancy rate for the United States.

As of October of 2024 The unemployment rate in 38115 ZIP Code is 4.9%, which is higher than the national average of 4.1%.

The most impactful amenities for short-term rentals in 38115 include a Outdoor shower, Mosquito net, and Sauna.

38115 ZIP Code is a popular destination for travelers, with Airbnb demand coming from cities like Memphis, TN (5.09% of all guests), Nashville, TN (3.14% of all guests), and Chicago, IL (2.33% of all guests).

The top short-term rental hosts in 38115 ZIP Code include Andrew, The Rambler and Lisa. These hosts have an average rating of 4.93, 4.69 and 4.97 respectively.

The most popular property types in 38115 ZIP Code are 2-bedroom units, with an average daily rate of $139 and an annual revenue of $28,211.

The average booking lead time for short-term rentals in 38115 ZIP Code is 56 days.