Market Intelligence · TN / Memphis

Memphis, TN 38128 Housing Market

The typical home value in Memphis 38128 is $148,486, down 1.0% over the past year. The median list price sits at $143,124, and homes are taking a median of 57 days on market as of June 2026.

Updated June 2026Median value$148K

The median home value in Memphis, TN 38128 is $148K as of June 2026, down 1.0% 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 38128 range

$137K to $160K

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

-1.0% over 12 months

Typical home value in 38128 over the last 12 months: $150K in Jun 2025 to $148K in Jun 2026 (-1.0%).

Jun 2025$150K

Jun 2026$148K

The numbers

What is the 38128 housing market like?

Typical home value

$148K

Down1.0%YoY

Median list price

$143K

Days on market

57

Down5.0%MoM

Homes for sale

145

Price cuts

21.7%

New listings

46

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

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The comparison

How do 38128 home prices compare?

  • 38128$148,486
  • 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 145 homes for sale in the 38128 ZIP code, with 46 new listings added recently. The median list price is $143,124, while the typical home value is $148,486, down 1.0% over the past year. Homes are taking a median of 57 days to sell, and 21.7% of listings have had a price cut. For sellers, this is a slower market, so realistic pricing and patience matter.

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