Market Intelligence · TN / Memphis

Memphis, TN 38106 Housing Market

The typical home value in 38106 is $54,692, down 6.4% over the past year. Homes are listed at a median of $86,000 and spend a median of 76 days on the market.

Updated September 2026Median value$55K

The median home value in Memphis, TN 38106 is $55K as of September 2026, down 6.4% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 38106 range

$50K to $59K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-6.4% over 12 months

Sep 2025$58K

Low $54KHigh $58K

Sep 2026$55K

The numbers

What is the 38106 housing market like?

As of September 2026

Typical home value

$55K

6.4%YoY

Median list price

$86K

3.4%MoM

Days on market

7.0%MoM

Homes for sale

128

4.9%MoM

Price cuts

14.7%

45.2%MoM

New listings

6.3%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

38106 housing market forecast 2027

-0.9%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 38106 to fall 0.9% by September 2027.

Over the 12 months through September 2026, typical home values in 38106 fell 6.4%, per the Zillow Home Value Index.

Will home prices drop in 38106?

Zillow's forecast says they may: it expects typical home values in 38106 to fall 0.9% by September 2027, after a 6.4% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 38106 home prices compare?

38106$54,692
Memphis$143,481
Tennessee$265,881
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Memphis: 25 ZIPs; Tennessee: 587 ZIPs; United States: 26,262 ZIPs).

Context

Memphis's 38106 ZIP holds 128 homes for sale as of September 2026, with 34 new listings. The median days on market sits at 76, suggesting moderate buyer interest. Meanwhile, 14.7% of listings have seen price cuts, reflecting the downward pressure on values. The typical home value of $54,692 is down 6.4% annually, signaling a buyer's market where negotiation room exists for those shopping.

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Common questions

What people ask us.

What is the typical home value in 38106?

The typical home value is $54,692 as of September 2026, down 6.4% over the past year.

How many homes are currently for sale in 38106?

There are 128 homes for sale in 38106 as of September 2026, with 34 new listings.

How long do homes stay on the market in 38106?

The median days on market is 76 as of September 2026.

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