Zip Code: 38103 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI) for All Homes (SFR, Condo/Co-op), Smooth and Seasonally Adjusted (Zillow)
Updated on February 21, 2026.

According to data from Zillow.com, the smoothed and seasonally adjusted Zillow home value index (ZHVI) for All Homes (SFR, Condo/Co-op) in the 38103 Zip Code (Memphis, Tennessee) in January 2026 was $319,081.585. The month over month percentage change (MoM) was -0.52%, and the year over year percentage change (YoY) was -4.80%.

The chart below shows the trend of the smoothed and seasonally adjusted ZHVI for the 38103 zip code (Memphis, Tennessee). The table below shows the trend of the smoothed and seasonally adjusted ZHVI, and the MoM and YoY percentage changes for the 38103 zip code (Memphis, Tennessee).

You can see similar information for other Tennessee zip codes, and for Tennessee.

Note: Zillow Home Value Index (ZHVI) is a measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range.

Data Source: Zillow.
Zip Code: 38103 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted ($)
Zip Code: 38103 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted
Items per page:
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Month ZHVI ($) MoM Perc. Change (%) YoY Perc. Change (%)
Jan 2015 203478.29084152114 0.68 3.55
Feb 2015 204884.16815862618 0.69 3.52
Mar 2015 205704.97551979913 0.40 3.24
Apr 2015 205892.64418735122 0.09 2.94
May 2015 206065.32610014224 0.08 2.64
Jun 2015 206018.98279987476 -0.02 2.31
Jul 2015 206007.69041378066 0.00 2.12
Aug 2015 205829.08058998667 -0.09 2.18
Sep 2015 206324.19234098124 0.24 2.56
Oct 2015 207401.63990275902 0.52 3.24
Nov 2015 209060.63659684456 0.80 3.85
Dec 2015 210798.2917777122 0.83 4.30
Jan 2016 212766.50924219246 0.93 4.57
Feb 2016 214493.93637377582 0.81 4.69
Mar 2016 215676.66141960668 0.55 4.85
Apr 2016 216677.8372003523 0.46 5.24
May 2016 217499.4294883818 0.38 5.55
Jun 2016 218627.66305713868 0.52 6.12
Jul 2016 219380.09588250448 0.34 6.49
Aug 2016 219953.08351091054 0.26 6.86
Sep 2016 220827.48398917235 0.40 7.03
Oct 2016 221690.9621177892 0.39 6.89
Nov 2016 222881.8630693075 0.54 6.61
Dec 2016 224058.13673868033 0.53 6.29
Jan 2017 225568.58049610304 0.67 6.02
Feb 2017 227157.35489973493 0.70 5.90
Mar 2017 228562.97129303098 0.62 5.98
Apr 2017 229754.70763064618 0.52 6.04
May 2017 230632.9531262341 0.38 6.04
Jun 2017 231926.0090517281 0.56 6.08
Jul 2017 233399.9831834871 0.64 6.39
Aug 2017 234992.90315437465 0.68 6.84
Sep 2017 236093.72804815075 0.47 6.91
Oct 2017 237057.74033551014 0.41 6.93
Nov 2017 238304.37152907343 0.53 6.92
Dec 2017 240033.29764343484 0.73 7.13
Jan 2018 241909.67080635237 0.78 7.24
Feb 2018 243330.63039756016 0.59 7.12
Mar 2018 244548.08270126177 0.50 6.99
Apr 2018 245607.5569909889 0.43 6.90
May 2018 246859.48630192564 0.51 7.04
Jun 2018 247768.50858248398 0.37 6.83
Jul 2018 248836.80542270027 0.43 6.61
Aug 2018 249826.97236943187 0.40 6.31
Sep 2018 250676.1687446474 0.34 6.18
Oct 2018 251322.87356148436 0.26 6.02
Nov 2018 252221.68334493577 0.36 5.84
Dec 2018 253725.3960812639 0.60 5.70
Jan 2019 255154.8496964244 0.56 5.48
Feb 2019 256274.50137389978 0.44 5.32
Mar 2019 257009.24764379906 0.29 5.10
Apr 2019 257777.02354069203 0.30 4.96
May 2019 258412.87847013096 0.25 4.68
Jun 2019 259247.1657105412 0.32 4.63
Jul 2019 260149.61405107108 0.35 4.55
Aug 2019 261477.89276918708 0.51 4.66
Sep 2019 262798.80905526475 0.51 4.84
Oct 2019 264411.5914870862 0.61 5.21
Nov 2019 266182.50607348204 0.67 5.54
Dec 2019 267948.5065237603 0.66 5.61
Jan 2020 269320.5607129487 0.51 5.55
Feb 2020 270419.937348356 0.41 5.52
Mar 2020 271517.8218078813 0.41 5.65
Apr 2020 272647.5581486469 0.42 5.77
May 2020 273693.0248289563 0.38 5.91
Jun 2020 274659.98649485526 0.35 5.95
Jul 2020 276021.54844403424 0.50 6.10
Aug 2020 277469.7878288633 0.53 6.12
Sep 2020 279700.17905201303 0.80 6.43
Oct 2020 282349.37225354364 0.95 6.78
Nov 2020 285518.83763444255 1.12 7.26
Dec 2020 288240.5291776223 0.95 7.57
Jan 2021 290135.72221589653 0.66 7.73
Feb 2021 291635.4730669325 0.52 7.85
Mar 2021 293760.91172752884 0.73 8.19
Apr 2021 296963.0849395787 1.09 8.92
May 2021 301164.0623998406 1.42 10.04
Jun 2021 305478.2039273297 1.43 11.22
Jul 2021 309385.96108892636 1.28 12.09
Aug 2021 312832.1216561815 1.11 12.75
Sep 2021 315617.1159918351 0.89 12.84
Oct 2021 318219.93854790664 0.83 12.70
Nov 2021 321024.93779998604 0.88 12.44
Dec 2021 324207.5826202005 0.99 12.48
Jan 2022 327728.78092049336 1.09 12.96
Feb 2022 331203.52730446943 1.06 13.57
Mar 2022 334895.81120697275 1.12 14.00
Apr 2022 339387.59213122766 1.34 14.29
May 2022 343627.34413183277 1.25 14.10
Jun 2022 346702.78917536046 0.90 13.50
Jul 2022 347546.6136400295 0.24 12.33
Aug 2022 346915.1957079661 -0.18 10.90
Sep 2022 345683.48851222574 -0.35 9.53
Oct 2022 345090.20651062106 -0.17 8.44
Nov 2022 344937.07095753244 -0.04 7.45
Dec 2022 344929.76314830454 0.00 6.39
Jan 2023 343239.4836318184 -0.49 4.73
Feb 2023 340975.3204653248 -0.66 2.95
Mar 2023 338923.2817201948 -0.60 1.20
Apr 2023 338224.05458464025 -0.21 -0.34
May 2023 338762.03520990856 0.16 -1.42
Jun 2023 339890.3841343077 0.33 -1.96
Jul 2023 341138.93805494 0.37 -1.84
Aug 2023 342248.3011555355 0.33 -1.34
Sep 2023 342777.97379214835 0.16 -0.84
Oct 2023 342836.05888875976 0.02 -0.65
Nov 2023 342363.3108220387 -0.14 -0.75
Dec 2023 341442.98966767784 -0.27 -1.01
Jan 2024 341032.92215103813 -0.12 -0.64
Feb 2024 340684.36707340064 -0.10 -0.08
Mar 2024 341048.8891675616 0.11 0.63
Apr 2024 341286.1150987906 0.07 0.91
May 2024 341237.6523488747 -0.01 0.73
Jun 2024 340571.6760474491 -0.19 0.20
Jul 2024 339096.07083335693 -0.43 -0.60
Aug 2024 337666.2099298555 -0.42 -1.34
Sep 2024 336555.1809919644 -0.33 -1.81
Oct 2024 336184.1568643833 -0.11 -1.94
Nov 2024 335994.79305710096 -0.06 -1.86
Dec 2024 335538.03221775586 -0.14 -1.73
Jan 2025 335186.6949782367 -0.10 -1.71
Feb 2025 334449.2644409031 -0.22 -1.83
Mar 2025 333745.35406666226 -0.21 -2.14
Apr 2025 332946.1072220194 -0.24 -2.44
May 2025 331744.87899233255 -0.36 -2.78
Jun 2025 330282.2313377283 -0.44 -3.02
Jul 2025 328294.65957689186 -0.60 -3.18
Aug 2025 326812.27454008645 -0.45 -3.21
Sep 2025 325453.538669636 -0.42 -3.30
Oct 2025 324092.75735225505 -0.42 -3.60
Nov 2025 322422.18971207924 -0.51 -4.04
Dec 2025 320765.6232463305 -0.51 -4.40
Jan 2026 319081.5854890638 -0.52 -4.80