Market Intelligence · TN / Memphis

Memphis, TN 38134 Housing Market

Homes in 38134 are valued at $222,769, up 1.0% over the past year. The median list price sits at $257,475, with homes spending 62 days on market as of September 2026.

Updated September 2026Median value$223K

The median home value in Memphis, TN 38134 is $223K as of September 2026, up 1.0% 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 38134 range

$205K to $241K

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

Sep 2025$220K

Low $220KHigh $225K

Sep 2026$223K

The numbers

What is the 38134 housing market like?

As of September 2026

Typical home value

$223K

1.0%YoY

Median list price

$257K

4.3%MoM

Days on market

1.6%MoM

Homes for sale

15.8%MoM

Price cuts

28.7%

43.3%MoM

New listings

16.7%MoM

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

The outlook

38134 housing market forecast 2027

-0.3%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 38134 to stay roughly flat by September 2027 (down 0.3%).

Over the 12 months through September 2026, typical home values in 38134 rose 1.0%, per the Zillow Home Value Index.

Will home prices drop in 38134?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 38134 to stay roughly flat by September 2027 (down 0.3%), after a 1.0% rise 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 38134 home prices compare?

38134$222,769
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

September 2026 shows 48 homes for sale in 38134, with 20 new listings entering the market. The median list price of $257,475 reflects asking prices above the typical home value of $222,769. At 62 days on market, properties are taking time to move, and 28.7% of listings have seen price cuts. For sellers, this suggests a market that rewards realistic pricing and patience.

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Down payment20% · $44,554

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Common questions

What people ask us.

What is the typical home value in Memphis, TN 38134?

The typical home value is $222,769, up 1.0% over the past year as of September 2026.

How long do homes take to sell in 38134?

The median days on market is 62 as of September 2026.

How many homes are currently for sale in 38134?

There are 48 homes for sale as of September 2026, with 20 new listings in that same period.

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