The story of this market
The typical home in ZIP 38127 sells for about $76,983, or $61 per square foot.
Prices are down 14.5% from a year ago, which gives buyers more room to negotiate. Homes take about 96 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,160 a month.
ZIP 38127 — Memphis
The 38127 housing market is currently experiencing a significant downturn, with median home prices falling 14.5% year-over-year and days on market increasing substantially. High vacancy rates and lower household incomes contribute to a challenging environment for traditional residential buyers, though the area remains a focus for investors looking for low-cost entry points.
This ZIP is primarily suited for real estate investors seeking low-entry-price properties for potential forced-equity plays or rental income, given the lower median home values and high vacancy rates.
Median prices moved down 14.5% year over year.
Homes spend a median of 96 days on market with 0.0 months of supply — a slower-moving market.
0% of listings have cut prices · homes sell at 93% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 12.5% · poverty 37.7% — elevated distress and economic pressure.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 38127, 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.
The rental market in 38127 is characterized by high vacancy rates of approximately 20.9%, which is significantly above national norms. Rents are generally lower, reflecting the area's lower median household income and tenant affordability constraints.
The local economy is influenced by the broader Memphis industrial and logistics sector, though the ZIP itself faces challenges with lower median household income and elevated poverty rates.
Data sourced from Repit.org and Census-based income statistics; specific ACS table breakdowns not fully available for all fields.
- Dave & Buster's Memphis412.9 mi
- K1 Speed Memphis4.710.4 mi
- Urban Air Trampoline and Adventure Park4.214.2 mi
- Jumping World4.110.3 mi
- Monster Mini Golf Cordova4.614.1 mi
- Memphis Zoo4.66.2 mi
- FedExForum4.77.1 mi
- Crosstown Concourse4.75.9 mi
- Renasant Convention Center4.56.1 mi
- B.B. King's Blues Club4.67 mi
- Memphis Zoo4.66.2 mi
- National Civil Rights Museum4.97.4 mi
- Malco Paradiso4.511 mi
- Memphis Botanic Garden4.710.4 mi
- Shelby Farms Park4.812.5 mi
- Graceland4.513.1 mi
- National Civil Rights Museum4.97.4 mi
- Crosstown Concourse4.75.9 mi
- Sun Studio4.86.8 mi
- Lorraine Motel4.97.4 mi
- Memphis Botanic Garden4.710.4 mi
- Shelby Farms Park4.812.5 mi
- Tom Lee Park4.67.4 mi
- Overton Park4.66.5 mi
- Meeman-Shelby Forest State Park4.67.4 mi
- Mirimichi Golf Course4.44.1 mi
- The Links at Audubon4.210.3 mi
- Links At Galloway Golf Course4.38.7 mi
- The Links at Pine Hill4.410.4 mi
- Glen Eagle Golf Course4.411.6 mi
- Nordstrom Rack4.110.2 mi
- Burlington3.811.3 mi
- Sprouts Farmers Market4.410.5 mi
- Ross Dress for Less4.18.3 mi
- T.J. Maxx4.211.5 mi
- Frederick W. Smith International Airport4.213.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.