Market Intelligence · TN / Memphis

Memphis, TN 38111 Housing Market

The typical home value in Memphis 38111 is $130,811, down 1.7% over the past year. Homes are listed at a median price of $195,950 and spend 68 days on the market before selling.

Updated September 2026Median value$131K

The median home value in Memphis, TN 38111 is $131K as of September 2026, down 1.7% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 38111 range

$120K to $141K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-1.7% over 12 months

Sep 2025$133K

Low $131KHigh $135K

Sep 2026$131K

The numbers

What is the 38111 housing market like?

As of September 2026

Typical home value

$131K

1.7%YoY

Median list price

$196K

4.4%MoM

Days on market

0.0%MoM

Homes for sale

209

1.4%MoM

Price cuts

28.1%

2.5%MoM

New listings

10.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

38111 housing market forecast 2027

-0.4%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 38111 to stay roughly flat by September 2027 (down 0.4%).

Over the 12 months through September 2026, typical home values in 38111 fell 1.7%, per the Zillow Home Value Index.

Will home prices drop in 38111?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 38111 to stay roughly flat by September 2027 (down 0.4%), after a 1.7% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 38111 home prices compare?

38111$130,811
Memphis$143,481
Tennessee$265,881
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Memphis: 25 ZIPs; Tennessee: 587 ZIPs; United States: 26,262 ZIPs).

Context

September 2026 showed 209 homes for sale with 54 new listings entering the market. The median days on market of 68 reflects a slower pace for moving inventory. Nearly 28.1% of listings carried a price cut, suggesting sellers are adjusting to softer demand. The typical home value decline of 1.7% year-over-year underscores a cooling market. Sellers should expect realistic pricing and longer holding times before a sale closes.

Monthly payment

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Home price

Down payment20% · $26,162

Term

Rate (%)

Common questions

What people ask us.

What is the typical home value in 38111?

The typical home value is $130,811, down 1.7% over the past year as of September 2026.

How many homes are currently for sale in this ZIP?

There are 209 homes for sale as of September 2026, with 54 new listings added recently.

How long do homes typically stay on the market?

The median days on market is 68 as of September 2026.

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