38111, Memphis, TN

The 38111 zip code of Memphis, TN is home to a large number of homeowners and home buyers. The median home value in this zip code is $137,500, which is significantly higher than the national median home value of $123,700. Additionally, the percentage of homeowners in this zip code who own their homes free and clear is significantly higher than the national percentage of homeowners who own their homes free and clear. This indicates that there are a large number of homeowners in this zip code who are able to borrow against their homes to cover some or all of the costs associated with owning a home.

Home equity is an important factor for many people when deciding whether or not to purchase a home. Homeownership provides individuals with access to a stable source of income and allows them to take advantage of tax breaks that are available only to homeowners. Additionally, owning your own home gives you control over your property and allows you to make changes or improvements that you may not be able to make if you rent an apartment or live in another type of housing arrangement.

The 38111 zip code has a high rate of homeowner ownership because it has a large number of families who can afford to buy homes without having too much difficulty meeting mortgage payments. In addition, many people in this area have taken out mortgages on their homes since they were able to get good rates available at the time they purchased their homes. This indicates that there is strong demand for housing in this area and that people are willing and able to pay more for properties located here compared with other areas in Memphis.