Memphis, TN Home Values (2026)
The median home value in Memphis is about $136,000 (~$129/sq ft) — 53% more affordable than the typical U.S. home. Below: how Memphis compares, values by home size and ZIP code, and a free tool for your own address.
Thinking of moving to Memphis?
Here’s what the numbers say about housing costs in Memphis. A typical home runs about $136,000, which is 53% more affordable than the national median and 50% more affordable than the Tennessee average. At roughly $129 per square foot, a median budget here buys you around 1,050 sq ft of home.
Prices swing a lot by neighborhood: across Memphis’s 23 ZIP codes, the most affordable is 38106 (~$59,000) and the priciest is 38120 (~$428,000) — roughly a 7.3× difference. If you’re relocating, that spread is where the real budgeting happens, so it pays to target ZIP by ZIP rather than the citywide average.
Memphis home value by size
Using the local rate of about $129 per square foot, here’s a rough estimate by home size. Condition, lot, and exact location move these meaningfully.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $129,000 |
| 1,500 sq ft | $193,500 |
| 2,000 sq ft | $258,000 |
| 2,500 sq ft | $322,500 |
| 3,000 sq ft | $387,000 |
Estimate your specific home in Memphis
Enter your ZIP and size for an instant estimate tailored to your exact area:
Home values by ZIP code in Memphis, TN
Typical value and price per square foot for each Memphis ZIP code we have data for:
| ZIP code | Typical value | $ / sq ft |
|---|---|---|
| 38120 | $428,000 | $172 |
| 38103 | $322,000 | $210 |
| 38119 | $295,000 | $141 |
| 38018 | $292,000 | $154 |
| 38117 | $270,000 | $171 |
| 38104 | $258,000 | $171 |
| 38134 | $230,000 | $149 |
| 38141 | $194,000 | $124 |
| 38115 | $169,000 | $89 |
| 38116 | $159,000 | $92 |
| 38128 | $151,000 | $101 |
| 38111 | $136,000 | $150 |
| 38118 | $129,000 | $106 |
| 38122 | $129,000 | $135 |
| 38112 | $127,000 | $145 |
| 38105 | $114,000 | $140 |
| 38107 | $110,000 | $104 |
| 38109 | $94,000 | $93 |
| 38127 | $92,000 | $90 |
| 38126 | $77,000 | $129 |
| 38114 | $74,000 | $115 |
| 38108 | $72,000 | $109 |
| 38106 | $59,000 | $84 |
Grow your home’s value in Memphis
Use our Increase Home Value calculator to see which improvements add the most, or read the pre-sale projects that actually pay off. See how Memphis stacks up against other Tennessee cities on the Tennessee home values page, or browse the full U.S. directory.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. Actual values vary by home and change over time.