The housing market in 38111 Memphis, TN is currently quite strong compared to the rest of the United States. According to recent estimates, the median value of a home in 38111 is $127,800, significantly lower than the US median value of $338,100. Despite this discrepancy in median values, home appreciation in 38111 has actually been higher than that of the US as a whole with an estimated increase of 15.04% over the past year compared to 8.27% for the nation overall. This demonstrates that buying a property in this area can be very profitable and thus represents good investment potential for those looking to buy a home or invest in real estate.
The median home cost in Memphis (zip 38111) is $127,800. Home appreciation the last 10 years has been 97.6%. Home Appreciation in Memphis (zip 38111) is up 15.0%.
Average Age of Homes
- The median age of Memphis (zip 38111) real estate is 61 years old
The Rental Market in Memphis (zip 38111)
- Renters make up 45.2% of the Memphis (zip 38111) population
- 4.1% of houses and apartments in Memphis (zip 38111), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.