Home ValuePros

Market Intelligence · TN / Memphis

Memphis, TN 38122 Housing Market

The typical home value in Memphis 38122 is $126,235, down 3.5% over the past year. The median list price sits at $174,373, and homes are taking a median of 96 days on market.

Updated June 2026Median value$126K

The median home value in Memphis, TN 38122 is $126K as of June 2026, down 3.5% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 38122 range

$116K to $136K

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

-3.5% over 12 months

Typical home value in 38122 over the last 12 months: $131K in Jun 2025 to $126K in Jun 2026 (-3.5%).

Jun 2025$131K

Jun 2026$126K

The numbers

What is the 38122 housing market like?

Typical home value

$126K

Down3.5%YoY

Median list price

$174K

Days on market

96

Up209.7%MoM

Homes for sale

147

Price cuts

20.2%

New listings

28

Sources · Zillow ZHVI (June 2026) / Realtor.com (June 2026) / FRED (July 2026)

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The comparison

How do 38122 home prices compare?

  • 38122$126,235
  • Memphis$148,486
  • Tennessee$273,929
  • United States$291,471

Median Zillow home value (ZHVI), as of June 2026. Comparison levels are medians across every ZIP code with Zillow data (Memphis: 25 ZIPs; Tennessee: 587 ZIPs; United States: 26,270 ZIPs).

Context

As of June 2026, there are 147 homes for sale in the 38122 ZIP code, with 28 new listings added. The median days on market is 96, which points to a slower pace of sales. About 20.2% of listings have had a price cut, and the typical home value of $126,235 is down 3.5% over the past year. For sellers, this is a softer market, so pricing carefully and preparing for a longer timeline both matter.

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