Market Snapshot
- Median listing price
- $173K
- Median rent
- $1,095/mo
- Days on market
- 135 days
- Gross rental yield
- 7.60%
- STR vs LTR
- $1,375/mo STR · $1,095/mo LTR
The median listing price in Memphis, TN ZIP 38122 is $172,900 as of June 2026.
The median market rent in Memphis, TN ZIP 38122 is $1,095/month as of June 2026.
The median days on market in Memphis, TN ZIP 38122 is 135 days as of June 2026. The market is currently cold.
At a median list price of $172,900 and a median rent of $1,095/month, the gross rental yield in Memphis, TN ZIP 38122 is 7.60% as of June 2026.
In Memphis, TN ZIP 38122, median Airbnb revenue is $1,375/month compared to median long-term rent of $1,095/month as of June 2026.
Memphis, TN 38122 Real Estate Market Report
ZIP Code: 38122
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 Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.
Key Findings
- median sold price: 111,000 — The median sold price is the primary indicator of realized value and recent transaction activity in 38122; the gap between the median sold price: 111,000 and the median listing price: 172,900 suggests pricing friction and that asking prices may be above what buyers are transacting for, which may require sellers to adjust expectations to achieve sales.
- median days on market: 135 — The long median days on market points to slower sales velocity and reduced liquidity; combined with a cold market temperature, this suggests transactions may take materially longer and price concessions may be increasingly necessary to close deals.
- price year-over-year trend: down — Price momentum is negative (down), and with elevated interest rate pressure this dynamic appears to be weighing on buyer affordability and contributing to softer pricing in recent transactions.
- median market rent: 1,095 — Rental rates are stable with a rent year-over-year trend of flat, indicating steady rental demand even as sales prices soften; this supports a hold-or-rent consideration for owners unwilling to accept current sales pricing.
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
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
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, 1.6% 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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