Best First Time Buyer Neighborhoods Part 3: 38111 (Memphis)

Dated: March 23 2021

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Next up in our Best First Time Buyer Neighborhoods is the 38111 zip code and 38122 since it really only has one great neighborhood for first time buyers. While there isn't as much opportunity in 38111 due to competition and a higher price point, neighborhoods like High Point Terrace, Central Poplar, and Country Club give buyers the opportunity to find great homes at great prices!

1. Central Gardens - When most people think about Central Gardens, they think Midtown, and that would be correct! But part of Central Gardens is located in the 38111 zip code near the Pink Palace. While most of the homes in Central Gardens are going to be priced above $300,000, there have been 12 sales over the past 2 years under the $300,000 price point. Of those 12 homes, the average price has been $250,000, the high was $282,000, the low was $209,000, and the average price per square foot was $168.00

Central Gardens affordable homes in Memphis best neighborhood 38111

2. Central Poplar/Central Park - No, this isn't Central Park in NY. This is even better, the Central Park and Central Poplar neighborhoods in East Memphis are located between Central Ave and Poplar near S Highland and St John's Episcopal Church. This is a wonderful location for anyone who works in Midtown, Downtown, or East Memphis! With about 30 single family sales in the past 2 years, buyers have a great opportunity to find a home in this area. Some of the stats are: Average price - $242,000, High price - $296,000, Low price - $$145,000, at an average price per square foot of $156.

Central park and central poplar affordable neighborhoods in east memphis below $300,000 38111

3. Colonial Heights - Colonial Heights is a small neighborhood near the University of Memphis that a lot of investors absolutely love, but the area as a whole offers great opportunities for first time buyers as well. With 14 sales since January of 2019 at an average price of $132,000, you can find a great home with lots of upside!

colonial heights 38111 memphis affordable homes

4. Country Club - Other than High Point Terrace, Country Club is the best first time buyer neighborhood in the 38111 and 38122 zip codes. Located in a little square between Central Ave, S Highland, S Greer, and Southern Ave, this neighborhood has had 50 sales over the past 2 years with an average price around $225,000, a high of $300,000, a low of $143,000, all at an average price per square ft around $156. Many of the homes in this neighborhood have already been renovated, giving buyers an amazing opportunity to find a move-in ready home at an affordable price.

country club great affordable neighborhood in Memphis 38111

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William Flowers

I have grown up in the Memphis area for the majority of my life and grew up going to Germantown Baptist Church as a kid. My relationship with Christ has given me a deep desire to help my community and....

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