Gross rental yield of 7.2% — ranked #31 of 167 Tennessee ZIP codes. June 2026 data.
| Metric | 1-year change | 5-year change |
|---|---|---|
| Home value | -0.5% | +20.7% |
| Market rent | +5.4% | +24.3% |
Metro: Memphis, TN-MS-AR · County: Shelby County · Annual rent: $21,780
Similar home values, sorted by yield — the cheapest way to see if 38135 is actually the better buy.
| ZIP | City | ST | Home value | Rent/mo | Yield | P/R | Value 1y |
|---|---|---|---|---|---|---|---|
| 38068 | Somerville | TN | $307,621 | $2,051 | 8.00% | 12.5 | +3.9% |
| 37921 | Knoxville | TN | $296,193 | $1,768 | 7.16% | 14.0 | +1.4% |
| 38119 | Memphis | TN | $297,309 | $1,651 | 6.66% | 15.0 | -1.6% |
| 37323 | Cleveland | TN | $307,218 | $1,677 | 6.55% | 15.3 | +2.2% |
| 38016 | Cordova | TN | $297,074 | $1,576 | 6.36% | 15.7 | -1.9% |
| 37388 | Tullahoma | TN | $300,639 | $1,573 | 6.28% | 15.9 | +3.6% |
| 38501 | Cookeville | TN | $305,966 | $1,500 | 5.88% | 17.0 | +2.2% |
| 37040 | Clarksville | TN | $308,250 | $1,298 | 5.05% | 19.8 | +0.0% |
Top rental yields in all of Tennessee →
Screening more than one ZIP? Get every Tennessee ZIP and all 49 other states at once. CSV, opens in Excel / Sheets / pandas. 13 columns incl. metro, county, price-to-rent, 1y & 5y value and rent growth.
Instant download after checkout · what's inside