Home values, rents and more in ZIP code 38114 (Memphis, TN)
September 2026 figures from Zillow and the U.S. Census Bureau · updated 2026-11-07
Open 38114 in ProMap- Under $87k
- $87k–$120k
- $120k–$150k
- $150k–$240k
- $240k+
- No data
How 38114 compares
The typical home in ZIP code 38114 (Memphis, TN) is worth about $70,757, according to the Zillow Home Value Index for September 2026. Home values in 38114 are 71% below the typical value in the Memphis metro area ($242,000) and 81% below the U.S. typical value ($366,000).
Over the past year, home values in 38114 fell 6.7%, compared with +0.1% in the Memphis metro area and +1.2% nationally.
Typical rent is $929 a month (Zillow Observed Rent Index), 33% below the Memphis metro area ($1,393) and 52% below the U.S. ($1,932). Rents rose 3.3% over the past year.
The median household income is $34,206, against $66,401 in the Memphis metro area and $80,734 in the U.S. (Census Bureau, American Community Survey 2020–24).
About 20,298 people live in 38114 (American Community Survey 2020–24).
38114 has the 4th-lowest typical home value of the 71 ZIP codes in the Memphis metro area and the 4th-lowest of 587 in Tennessee with Zillow figures.
Part of: Memphis, TN · Shelby County, TN · Memphis metro area · Tennessee
More for 38114 in ProMap Plus
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- 5- and 10-year price changes
- Days on market and months of supply
- Price cuts and sale-to-list ratio
- Price-to-income and monthly cost to buy
- Zillow 12-month price forecast
- Crime rates
- School test scores
- Homeowners insurance premiums
- Commute time to downtown
- Flood, wildfire and natural hazard risk
- Property-tax rate
- 2024 presidential vote
- Age, education and household make-up
- Amenities and transit nearby
Nearby ZIP codes
Sources
Home values: Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted, September 2026. Rents: Zillow Observed Rent Index (ZORI), seasonally adjusted. Population: Census population estimates (July 2025) for states, metros and counties; ACS 2020–24 for cities and ZIP codes. Income: U.S. Census Bureau, ACS 2020–24 5-year estimates. Boundaries: U.S. Census Bureau cartographic boundary files. Compiled by Home Economics.
"Typical" is Zillow's middle-tier value (homes between the 35th and 65th percentiles), not a median sale price. Changes are over the 12 months to September 2026.