Relative Price in 38116
With a median income of $38,980 and an average price of $74.49 per month for a storage unit, renting storage for a year in 38116 Memphis would require 2.3% of a median earner's annual income. In comparison to the ratio of storage price to median income of ZIP codes nationwide, 38116 ranks in the 48th percentile, making it moderately inexpensive. When compared to other ZIP codes in Tennessee, storage as a fraction of median income is relatively inexpensive, ranking in at the 41st percentile.
Storage Coverage In 38116
There are 14,724 households in 38116 Memphis and approximately 2,462 storage units, meaning there are 0.16721 units per household. In terms of units-per-household in ZIP codes nationwide, 38116 has a very high amount of coverage, ranking in at the 79th percentile, which means finding a storage unit should be no problem whatsoever. 38116 has a very high number of storage units per household comapred to other Tennessee ZIP codes, ranking in at the 87th percentile.
In terms of the number of people living in 38116, the ZIP code has a population of 40,342. With a total of 368,853 square feet of storage space in the ZIP, there are 9.14sqft of storage per person. This is a very high number of square feet of storage per capita compared to other ZIP codes nationwide, ranking in at the 82nd percentile. In terms of other ZIP codes in Tennessee, 38116 ranks at the 87th percentile, meaning it has very high coverage compared to other ZIP codes in the state.