38114 — Memphis, TN Home Values
Typical home value $74,551 as of June 2026 · 68th of 71 in Memphis, TN-MS-AR
Blue: typical home value (Zillow ZHVI) in ZIP code 38114, June 2021 to June 2026. This page shows observed data only; no forecast.
How 38114 compares in the Memphis, TN-MS-AR area
ZIP code 38114 (Memphis, TN) has a typical home value of $74,551 as of June 2026, ranking 68th of 71 ZIP codes tracked in the Memphis, TN-MS-AR area, more expensive than about 6% of ZIP codes in the metro. Prices here have moved -8.5% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed -3.2%, from $76,976 in June 2021 to $74,551 in June 2026. Against observed rent, the typical home here sells for 6.3× the annual rent ($984/mo), a common way to gauge whether buying looks cheap relative to renting in this ZIP code.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Memphis, TN-MS-AR forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Memphis.
Population and demographics
ZIP code 38114 has a population of 20,440, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 91.4% Black or African American, 4.8% White, 3.1% Hispanic or Latino, 0.3% two or more races, 0.2% Asian, and 0.1% another race.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Bethel Grove Elementary | 2459 Arlington Ave, Memphis, TN | 0.3 mi |
| Compass Community School Orange Mound Campus | 2718 Lamar AVE, Memphis, TN | 0.8 mi |
| Nat Burning Orange Mound Day Nursery Learning Inc. | 2415 Saratoga, Memphis, TN | 0.9 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 38114?
$74,551 as of June 2026, the latest month Zillow has published observed data for.
Is 38114 an expensive ZIP code in the Memphis, TN-MS-AR area?
38114 ranks 68th of 71 ZIP codes in the Memphis, TN-MS-AR area by typical home value, more expensive than about 6% of ZIP codes in the metro.
How much have home values in 38114 changed over the past year?
-8.5% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 38114?
The typical home price is 6.3× the observed annual rent in this ZIP code ($984/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 38114?
20,440, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 38114?
Bethel Grove Elementary (0.3 mi), Compass Community School Orange Mound Campus (0.8 mi), Nat Burning Orange Mound Day Nursery Learning Inc. (0.9 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 38114?
No. Every number on this page is observed Zillow data as of June 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Memphis, TN-MS-AR forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.