ZIP Code 38117

In ZIP code 38117, near Memphis, homes carry a median value of $311,800, and the county's 0.97% effective property tax rate yields an annual bill of roughly $3,000. With median household income at $85,633 and per-capita income at $65,576, that tax equals about 3.5% of household earnings — a share most owners can absorb without strain. The 9.75% combined sales tax adds to everyday costs, though Tennessee's lack of a state income tax offsets some of that. Housing here demands a solid income, yet the property-tax load stays proportionate to what earners bring in.