ZIP Code 38105 — Memphis, TN Home Prices (2026)

The typical home in ZIP 38105 (Memphis, Tennessee) is worth about $112,000 at roughly $133 per square foot — 14% more affordable than the Memphis median and 62% more affordable than the typical U.S. home.

$112,000

Typical home value

$133

Price per sq ft

#15 of 22

Memphis ZIPs by value

-14%

vs Memphis median

How 38105 compares

ZIP 38105 is one of the more affordable ZIP codes in Memphis: its typical home value of $112,000 ranks #15 of the 22 Memphis ZIP codes we track (the citywide range runs from $57,000 in 38106 to $428,000 in 38120). Per square foot it costs about $133, against $120 for Memphis as a whole, $211 for Tennessee, and $195 nationally.

Area	Typical value	$ / sq ft
ZIP 38105	$112,000	$133
Memphis, TN	$130,000	$120
Tennessee	$272,500	$211
United States	$294,000	$195

Home value by size in 38105

Using this ZIP’s rate of about $133 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.

Home size	Estimated value
1,000 sq ft	$133,000
1,500 sq ft	$199,500
2,000 sq ft	$266,000
2,500 sq ft	$332,500
3,000 sq ft	$399,000

Salary needed to buy a home in ZIP 38105

To buy the typical $112,000 home in ZIP 38105 with 20% down, you need a household income of roughly $30,000 a year (about $710 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $36,000, because the loan is bigger and mortgage insurance kicks in.

Down payment	Cash down	Monthly payment	Income needed
5% (+PMI)	$5,600	$880/mo	$38,000/yr
10% (+PMI)	$11,200	$840/mo	$36,000/yr
20%	$22,400	$710/mo	$30,000/yr

Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.

What your budget buys in ZIP 38105

At about $133 per square foot, here is roughly how much home different budgets get you in ZIP 38105:

Budget	Approx. size	What that looks like locally
$150k	1130 sq ft	above the median — larger homes or the pricier ZIPs
$200k	1500 sq ft	above the median — larger homes or the pricier ZIPs
$250k	1880 sq ft	above the median — larger homes or the pricier ZIPs
$300k	2260 sq ft	above the median — larger homes or the pricier ZIPs

Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 38105 home.

Estimate a specific home in 38105

The estimator below is pre-set to ZIP 38105 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.

All Memphis ZIP codes by home value

Where 38105 sits among Memphis’s 22 ZIP codes:

#	ZIP code	Typical value	$ / sq ft
1	38120	$428,000	$160
2	38103	$321,000	$211
3	38119	$295,000	$138
4	38125	$280,000	$146
5	38117	$269,000	$168
6	38104	$255,000	$162
7	38141	$192,000	$131
8	38115	$166,000	$80
9	38116	$156,000	$96
10	38128	$147,000	$101
11	38111	$134,000	$141
12	38122	$126,000	$132
13	38112	$125,000	$145
14	38118	$124,000	$103
15	38105 (this page)	$112,000	$133
16	38107	$110,000	$100
17	38109	$92,000	$91
18	38127	$90,000	$87
19	38126	$76,000	$97
20	38114	$74,000	$108
21	38108	$70,000	$105
22	38106	$57,000	$83

ZIP 38105 home prices: frequently asked

What is the average home price in ZIP code 38105? +

The typical home in ZIP 38105 (Memphis, TN) is worth about $112,000 as of 2026. That is 14% more affordable than the Memphis median of $130,000 and 62% more affordable than the U.S. median of $294,000.

What is the price per square foot in 38105? +

About $133 per square foot in 38105, versus $120 across Memphis and $211 across Tennessee. At that rate a 1,500 sq ft home runs roughly $199,500 and a 2,500 sq ft home about $332,500.

What salary do you need to buy a house in ZIP 38105? +

For the typical $112,000 home in ZIP 38105, a household income of about $30,000 a year covers the payment with 20% down (a 30-year fixed at 6.5%, plus taxes and insurance, under the 28% rule). With 10% down you need roughly $36,000; with 5% down about $38,000.

Is 38105 an expensive ZIP code? +

Within Memphis, 38105 ranks #15 of 22 ZIP codes by typical home value, which makes it one of the more affordable ZIP codes in Memphis. Nationally it is relatively affordable.

See the full Memphis home values page, all Tennessee cities, or price per square foot by ZIP code nationwide.

Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.