Market Snapshot
- Median listing price
- $217K
- Median rent
- $1,195/mo
- Days on market
- 185 days
- Gross rental yield
- 6.62%
- STR vs LTR
- $1,597/mo STR · $1,195/mo LTR
The median listing price in Memphis, TN ZIP 38111 is $216,750 as of June 2026.
The median market rent in Memphis, TN ZIP 38111 is $1,195/month as of June 2026.
The median days on market in Memphis, TN ZIP 38111 is 185 days as of June 2026. The market is currently neutral.
At a median list price of $216,750 and a median rent of $1,195/month, the gross rental yield in Memphis, TN ZIP 38111 is 6.62% as of June 2026.
In Memphis, TN ZIP 38111, median Airbnb revenue is $1,597/month compared to median long-term rent of $1,195/month as of June 2026.
Memphis, TN 38111 Real Estate Market Report
ZIP Code: 38111
Report Date: June 2026
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Key Findings
- The primary market value indicator is the median sold price of $119,000, which reflects recent transaction-level pricing and suggests current market value for SFR and condo properties in the area.
- There is a notable gap between the median listing price of $216,750 and the median sold price of $119,000, which may indicate pricing friction or seller expectations misalignment relative to recent transaction prices.
- Market velocity appears slow based on a median days on market of 185, which suggests longer selling timelines and potentially moderate transaction volume rather than rapid turnover.
- Broader market signals show prices are down year-over-year, market temperature is neutral, rent trends are flat, and interest rate pressure is elevated, which together suggest cautious buyer activity and potential upward pressure on holding costs for owners.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Quick sale indicating strong buyer demand and competitive market conditions.
Sold below market average
Sold at market average
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.50% rate, 1.7% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 6/1/2026
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