The story of this market
The typical home in ZIP 38116 sells for about $154,000, or $115 per square foot.
Prices are down 16.7% 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 $1,059 a month.
ZIP 38116 — Memphis
The 38116 housing market is experiencing significant downward price pressure, with median prices falling 16.7% year-over-year to $154,000. High inventory levels and longer days on market across the broader Memphis region are contributing to a buyer-favorable environment. The area remains an accessible entry point for buyers, though market momentum is currently negative.
This area fits family buyers and commuters looking for accessible entry-level housing options with convenient highway access.
Median prices moved down 16.7% year over year.
Homes spend a median of 62 days on market with 0.0 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 13.4% · poverty 31.1% — elevated distress and economic pressure.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 38116, 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 area offers convenient access to major highways, making driving straightforward for commuters.
The area features a variety of housing options built between 1960 and 1980 with plentiful parking.
Data retrieved from Census Reporter profile for ZCTA 38116.
- Dave & Buster's Memphis417 mi
- K1 Speed Memphis4.713.5 mi
- Urban Air Trampoline and Adventure Park4.214.7 mi
- Jumping World4.113 mi
- Urban Air Trampoline and Adventure Park4.216.5 mi
- Memphis Zoo4.68.4 mi
- FedExForum4.78 mi
- Crosstown Concourse4.78.6 mi
- Renasant Convention Center4.58.9 mi
- B.B. King's Blues Club4.68.1 mi
- Graceland4.51.7 mi
- Memphis Zoo4.68.4 mi
- National Civil Rights Museum4.97.9 mi
- Malco Paradiso4.58.9 mi
- Memphis Botanic Garden4.77.7 mi
- Graceland4.51.7 mi
- National Civil Rights Museum4.97.9 mi
- Crosstown Concourse4.78.6 mi
- Sun Studio4.87.9 mi
- Lorraine Motel4.97.8 mi
- Memphis Botanic Garden4.77.7 mi
- Shelby Farms Park4.812.6 mi
- Tom Lee Park4.68.1 mi
- Overton Park4.68.2 mi
- Snowden Grove Park4.66.7 mi
- Topgolf Memphis3.511.3 mi
- Cherokee Valley Golf Club4.510 mi
- The Links at Audubon4.27.8 mi
- Links At Galloway Golf Course4.38.3 mi
- The Links at Fox Meadows4.28 mi
- Tanger Outlets Southaven4.56.4 mi
- Nordstrom Rack4.18.5 mi
- Winchester Farmers Market4.39.6 mi
- Burlington3.88.5 mi
- Sprouts Farmers Market4.48.4 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.