Market Intelligence · TN / Memphis

Memphis, TN 38127 Housing Market

The typical home value in Memphis 38127 is $90,129, down 7.2% over the past year. The median list price is $99,675, and homes are taking a median of 82 days on the market to sell.

Updated June 2026Median value$90K

The median home value in Memphis, TN 38127 is $90K as of June 2026, down 7.2% 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 38127 range

$83K to $97K

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

-7.2% over 12 months

Typical home value in 38127 over the last 12 months: $97K in Jun 2025 to $90K in Jun 2026 (-7.2%).

Jun 2025$97K

Jun 2026$90K

The numbers

What is the 38127 housing market like?

Typical home value

$90K

Down7.2%YoY

Median list price

$100K

Days on market

82

Up46.4%MoM

Homes for sale

259

Price cuts

24.8%

New listings

54

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

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The comparison

How do 38127 home prices compare?

  • 38127$90,129
  • 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 1, 2026, there are 259 homes for sale in the 38127 ZIP code, with 54 new listings added. The median list price sits at $99,675, while the typical home value is $90,129, down 7.2% over the past year. Homes are spending a median of 82 days on the market, and 24.8% of listings have had a price cut. For sellers, this is a slower market where realistic pricing and patience matter.

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