Market Intelligence · TN / Memphis

Memphis, TN 38114 Housing Market

The typical home value in Memphis, TN 38114 is $74,680, down 7.3% over the past year. The median list price is $125,000, and homes have a median days on market of 88. Buyers have time to compare options.

Updated August 2026Median value$75K

The median home value in Memphis, TN 38114 is $75K as of August 2026, down 7.3% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 38114 range

$69K to $81K

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

-7.3% over 12 months

Typical home value in 38114 over the last 12 months: $81K in Aug 2025 to $75K in Aug 2026 (-7.3%).

Aug 2025$81K

Aug 2026$75K

The numbers

What is the 38114 housing market like?

Typical home value

$75K

Down7.3%YoY

Median list price

$125K

Down1.9%MoM

Days on market

88

Up7.3%MoM

Homes for sale

92

Down7.1%MoM

Price cuts

24.2%

Up22.1%MoM

New listings

24

Down20.0%MoM

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

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The comparison

How do 38114 home prices compare?

  • 38114$74,680
  • Memphis$148,286
  • Tennessee$270,768
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Memphis: 25 ZIPs; Tennessee: 587 ZIPs; United States: 26,265 ZIPs).

Context

Memphis, TN 38114 has 92 homes for sale and 24 new listings, so supply is not thin. The median list price is $125,000, while the typical home value is $74,680 and is down 7.3% over the past year. A median days on market of 88 points to slower decisions and more room for negotiation. With 24.2% of listings showing a price cut, buyers are signaling resistance to ambitious asks. Sellers should expect pricing discipline to matter more than speed.

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