The story of this market
The typical home in ZIP 38117 sells for about $289,875, or $164 per square foot.
Prices are up +5.4% from a year ago, so sellers still have some momentum. Homes take about 53 days to sell. HUD's fair market rent for a two-bedroom is $1,457 a month.
ZIP 38117 — Memphis
The 38117 housing market is currently characterized as somewhat competitive, with home values experiencing a 5.4% year-over-year increase as of August 2026. While the market shows signs of price appreciation, the pace of sales remains moderate. Market activity is balanced, with sufficient inventory to meet demand, though the area remains attractive for those seeking established residential environments near the Memphis employment core.
A strong fit for families and mid-career professionals who value proximity to city amenities and established school zones, as well as investors seeking stable, long-term rental demand.
Median prices moved up 5.4% year over year.
Homes spend a median of 53 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.9% · poverty 9.9% — a stable, low-distress profile.
ZCTA 38117, Shelby County, TN
The area is served by Memphis-Shelby County Schools, featuring notable institutions like White Station High School and a significant presence of private schools.
The area follows a standard Tennessee residential risk profile with wind and storm exposure; specific parcel premiums are determined by local flood maps.
The area benefits from proximity to the University of Memphis corridor and East Memphis professional services, with steady residential renovation and infill activity.
Convenient access to the I-240 loop provides central connectivity to the broader Memphis metropolitan employment centers.
Features local neighborhood parks such as Sea Isle Park and Audubon Park, with shopping concentrated in the East Memphis commercial corridors.
Market depth is healthy with a mix of single-family rentals and multi-family units, serving as a stable rental pocket.
The economy is anchored by East Memphis professional services, nearby medical facilities, and proximity to the University of Memphis.
The area is served by the I-240 loop, which acts as the primary transit corridor for the Memphis metropolitan area.
Ongoing residential renovation and infill projects are the primary development activity within the ZIP.
Parcels are zoned primarily within Shelby County municipal and school district jurisdictions.
Standard Tennessee residential risk profile with wind and storm exposure; local flood maps determine specific parcel premiums.
Data sourced from ACS and Census estimates.
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.
- Dave & Buster's Memphis48.7 mi
- K1 Speed Memphis4.75.3 mi
- Urban Air Trampoline and Adventure Park4.26.6 mi
- Urban Air Trampoline and Adventure Park4.212.2 mi
- Jumping World4.14.8 mi
- Memphis Zoo4.65.9 mi
- FedExForum4.78.6 mi
- Crosstown Concourse4.77 mi
- Renasant Convention Center4.58.9 mi
- B.B. King's Blues Club4.68.8 mi
- Graceland4.58.2 mi
- Memphis Zoo4.65.9 mi
- National Civil Rights Museum4.98.9 mi
- Malco Paradiso4.50.5 mi
- Shelby Farms Park4.84.4 mi
- Graceland4.58.2 mi
- National Civil Rights Museum4.98.9 mi
- Crosstown Concourse4.77 mi
- Sun Studio4.87.9 mi
- Lorraine Motel4.99 mi
- Shelby Farms Park4.84.4 mi
- Memphis Botanic Garden4.70.9 mi
- Tom Lee Park4.69.3 mi
- Overton Park4.65.5 mi
- Snowden Grove Park4.611 mi
- Topgolf Memphis3.56.4 mi
- TPC Southwind4.87.8 mi
- Windyke Country Club4.88.4 mi
- Cherokee Valley Golf Club4.511 mi
- Ridgeway Country Club4.810 mi
- Wolfchase Galleria4.29 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major regional park featuring green space and recreational facilities.
A local neighborhood park serving the immediate community.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.