38111 — Shelby County, Tennessee Market Snapshot
Housing market data for zip code 38111 in Shelby County, Tennessee. Updated monthly with median prices, days on market, and more.
Market Sales Data
123 sales in 2026 (year to date)
Median Sale Price
$199,000
Days to Sell
45
Homes Sold
123
Inventory
214
Sale-to-List
95.2%
New Listings
230
Price/SqFt
$141
Pending Sales
155
Conforming Loan Available
Most homebuyers in 38111 can comfortably use conventional financing. The median home price of $199,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
38111's market is balanced with homes taking an average of 45 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
The average home in 38111 sells for 4.8% below asking price (95.2% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 38111 can comfortably use conventional financing. The median home price of $199,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 38111 are set at the county level.
2026 Loan Limits — Shelby County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 38111
To purchase the median home at $199,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,675.
Monthly Payment
$1,675
Income Required
$71,772
Principal & Interest
$1,226/mo
Down Payment (5%)
$9,950
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 38111.
Estimated Monthly Payment
$1,382
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