The story of this market
The typical home in ZIP 38111 sells for about $178,000, or $135 per square foot.
Prices are roughly flat from a year ago (+0.3%), a market in balance. Homes take about 48 days to sell. HUD's fair market rent for a two-bedroom is $1,155 a month.
ZIP 38111 — Memphis
The 38111 housing market is showing signs of stability with modest price growth and a competitive environment driven by university-area demand. While inventory remains available, the market is balanced between buyers and sellers, reflecting the broader Memphis trend of affordability and steady, if slow, appreciation.
This ZIP is well-suited for university-affiliated renters, first-time homebuyers seeking affordability, and investors looking for steady rental demand near the University of Memphis.
Median prices moved up 0.3% year over year.
Homes spend a median of 48 days on market with 3.2 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 8.3% · poverty 26.1% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 38111, Shelby County TN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the 38111 area remain higher than the national average, with property and violent crime trends consistent with broader urban patterns in Memphis.
Public schools in the area are primarily served by Memphis-Shelby County Schools, with performance ratings generally falling below state averages.
The area is subject to standard regional risks including severe thunderstorms and occasional wind damage, with flood risk varying by specific neighborhood proximity to local drainage basins.
Economic momentum is driven by proximity to the University of Memphis and major logistics hubs in the Memphis metro area, though new residential development is limited by the area's mature, built-out nature.
Property taxes are assessed by Shelby County and the City of Memphis, with rates determined by the combined millage of these jurisdictions plus the school district levy.
Residents benefit from central access to major thoroughfares like I-240 and Poplar Avenue, providing relatively direct transit to downtown Memphis and the University district.
The area features proximity to the University of Memphis campus, Audubon Park, and various local shopping districts along the Poplar corridor.
The rental market is characterized by high demand from students and university staff, with steady vacancy pressure and a significant presence of individual investor-owned single-family rentals.
The local economy is anchored by the University of Memphis and supported by the broader Memphis logistics and healthcare sectors.
The area is served by MATA bus routes and provides easy access to the I-240 loop for regional commuting.
Development is primarily focused on infill projects and renovations of existing housing stock rather than large-scale new construction.
Parcels are subject to standard municipal and county tax districts, with no major MUDs or PIDs reported.
Property insurance premiums are influenced by regional weather risks, including wind and hail exposure common to the Mid-South.
Data retrieved from data.census.gov ZCTA 38111 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Dave & Buster's Memphis410.8 mi
- K1 Speed Memphis4.77.3 mi
- Urban Air Trampoline and Adventure Park4.28.7 mi
- Urban Air Trampoline and Adventure Park4.213.3 mi
- Jumping World4.16.8 mi
- Memphis Zoo4.65.1 mi
- FedExForum4.77.2 mi
- Crosstown Concourse4.76 mi
- Renasant Convention Center4.57.7 mi
- B.B. King's Blues Club4.67.4 mi
- Graceland4.56.1 mi
- Memphis Zoo4.65.1 mi
- National Civil Rights Museum4.97.5 mi
- Malco Paradiso4.52.7 mi
- Shelby Farms Park4.86.6 mi
- Graceland4.56.1 mi
- National Civil Rights Museum4.97.5 mi
- Crosstown Concourse4.76 mi
- Sun Studio4.86.6 mi
- Lorraine Motel4.97.5 mi
- Shelby Farms Park4.86.6 mi
- Memphis Botanic Garden4.71.5 mi
- Tom Lee Park4.67.9 mi
- Overton Park4.64.7 mi
- Snowden Grove Park4.69.7 mi
- Topgolf Memphis3.57.5 mi
- TPC Southwind4.89.1 mi
- Windyke Country Club4.89.5 mi
- Cherokee Valley Golf Club4.510.5 mi
- The Links at Audubon4.21.6 mi
- Tanger Outlets Southaven4.511.4 mi
- Wolfchase Galleria4.211.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Large public park featuring walking trails and green space.
Major anchor institution providing cultural and educational resources.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.