The story of this market
The typical home in ZIP 38114 sells for about $110,000, or $93 per square foot.
Prices are down 3% from a year ago, which gives buyers more room to negotiate. Homes take about 82 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $905 a month.
ZIP 38114 — Memphis
The 38114 housing market is currently experiencing a period of price stabilization with high inventory levels relative to sales volume. Buyers maintain leverage due to the increased supply of active listings, while the market remains sensitive to broader economic trends in the Memphis region.
This ZIP is primarily suited for budget-conscious first-time homebuyers and investors seeking entry-level properties in an established urban environment with proximity to major transit corridors.
Median prices moved down 3.0% year over year.
Homes spend a median of 82 days on market with 4.3 months of supply — a balanced-paced market.
27% of listings have cut prices · homes sell at 96.5% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 14.6% · poverty 33.0% — elevated distress and economic pressure.
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 8.0%/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 5.3%/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 38114, 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 38114 area remain significantly higher than the national and regional averages, with property and violent crime being primary concerns for residents.
Public schools serving this ZIP are predominantly rated below average by GreatSchools, reflecting ongoing challenges in the local educational landscape.
The area is subject to standard regional risks including severe thunderstorms and occasional flooding, with insurance premiums reflecting the broader Memphis market's exposure to wind and hail.
Economic momentum is driven by proximity to the Memphis logistics hub and downtown employment centers, though residential development within the ZIP remains limited to infill and renovation.
Property taxes are assessed by the Shelby County Assessor based on fair market value, with rates determined by the combined city and county tax levies; no special MUD/PID districts are typically attached to these older urban parcels.
Residents benefit from direct access to major thoroughfares like I-240 and Lamar Avenue, providing a relatively short drive to the Memphis International Airport and downtown employment hubs.
The area features local community parks and is within a short drive of the larger green spaces and cultural amenities found in Midtown Memphis and the Fairgrounds district.
The rental market is characterized by high demand for affordable housing, with a significant presence of individual investors and a steady trajectory of rent growth.
The economy is anchored by the logistics, transportation, and healthcare sectors, with major employers including FedEx and regional hospital systems.
The area is well-served by the MATA bus system and provides easy access to the I-240 loop, facilitating regional connectivity.
Ongoing revitalization efforts are focused on the Fairgrounds area and surrounding corridors to improve infrastructure and commercial appeal.
The Shelby County Assessor of Property conducts periodic reappraisals to ensure assessments reflect current market values.
Parcels are subject to Shelby County and City of Memphis tax jurisdictions, with no specialized utility districts typically found in this urban core.
Property insurance premiums are influenced by the regional risk of severe weather, including wind and hail damage common to the Mid-South.
Data retrieved from data.census.gov ZCTA-level tables.
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 Memphis413.3 mi
- K1 Speed Memphis4.79.7 mi
- Urban Air Trampoline and Adventure Park4.211.7 mi
- Jumping World4.19.2 mi
- Urban Air Trampoline and Adventure Park4.216.2 mi
- Memphis Zoo4.63.8 mi
- FedExForum4.74.6 mi
- Crosstown Concourse4.74.2 mi
- Renasant Convention Center4.55.3 mi
- B.B. King's Blues Club4.64.8 mi
- Graceland4.53.8 mi
- Memphis Zoo4.63.8 mi
- National Civil Rights Museum4.94.7 mi
- Malco Paradiso4.55.6 mi
- Memphis Botanic Garden4.74.3 mi
- Graceland4.53.8 mi
- National Civil Rights Museum4.94.7 mi
- Crosstown Concourse4.74.2 mi
- Sun Studio4.84.1 mi
- Lorraine Motel4.94.7 mi
- Memphis Botanic Garden4.74.3 mi
- Shelby Farms Park4.89.5 mi
- Tom Lee Park4.65.1 mi
- Overton Park4.63.6 mi
- Snowden Grove Park4.610.3 mi
- Topgolf Memphis3.510.5 mi
- TPC Southwind4.812.2 mi
- Windyke Country Club4.812.5 mi
- Cherokee Valley Golf Club4.512.2 mi
- The Links at Audubon4.24.3 mi
- Tanger Outlets Southaven4.510.9 mi
- Nordstrom Rack4.14.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A historic community park serving the local neighborhood.
Major regional sports and entertainment development located nearby.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.