The story of this market
The typical home in ZIP 38053 sells for about $248,000, or $165 per square foot.
Prices are down 1.67% from a year ago, which gives buyers more room to negotiate. Homes take about 62 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,161 a month.
ZIP 38053 — Millington
The 38053 housing market is experiencing cooling conditions characterized by elevated vacancy rates and softer price growth. Rising inventory levels in the broader Memphis region are putting downward pressure on prices, making this a challenging environment for investors requiring stable, low-friction returns.
This ZIP is best suited for experienced real estate investors who can account for high friction and maintenance costs, rather than generalist buyers seeking passive returns.
Median prices moved down 1.7% year over year.
Homes spend a median of 62 days on market with 4.2 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.3% · poverty 14.3% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 38053, 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 38053 faces vacancy pressure and tenant stability concerns, with an 8.5% vacancy rate signaling weakening demand.
The local economy is heavily influenced by the presence of the Naval Support Activity Mid-South base in Millington.
Data retrieved from data.census.gov ZCTA 38053 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.
Large state park offering hiking, fishing, and camping near the Mississippi River.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.