Memphis, TN-MS-AR · Tennessee
Fayette County
ZIP 38066
42,653 residents298 permits TTM$84,764 median HHI9 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$316,000
ACS 5-Year
Cap rate proxy
4.8%
FMR × 0.65 ÷ Home Value
Rent-to-income
12.5%
HUD FMR ÷ ACS HHI
Net migration
+2.67%
IRS SOI
Permits (TTM)
298
Census BPS
Climate risk
76.0
FEMA NRI (0–100)
ZIP 38066
Median home value
$517,168
Gross yield
2.5%
Cap rate
2.0%
Rent gap
16.7%
Affordability
P/I: 6.1R/I: —
Section 8 detail
SAFMR: $1,060Rent: $883Gap: 20.0%
ZIP code breakdown9 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 38049 | $225,324 | $1,070 | 5.7% | 4.7% | 17.5% |
| 38036 | $316,000county est. | $1,780 | 6.8% | 3.4% | 50.4% |
| 38057 | $287,064 | $1,060 | 4.4% | 3.7% | 16.7% |
| 38068 | $296,359 | $1,060 | 4.3% | 3.6% | 16.7% |
| 38046 | $316,000county est. | $1,060 | 4.0% | 3.4% | 16.7% |
Ranked by composite score
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Demographics
Owner-occupied
80.7%
Census ACS
Vacancy rate
7.5%
Census ACS
Bachelor's degree +
26.9%
Census ACS
Rent burdened
37.1%
Census ACS (>30% income)
Median age
47.2
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026