Zip Code: 38109 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI) for All Homes (SFR, Condo/Co-op), Smooth and Seasonally Adjusted (Zillow)

Updated on March 22, 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 38109 Zip Code (Memphis, Tennessee) in February 2026 was $92,217.897. The month over month percentage change (MoM) was -0.27%, and the year over year percentage change (YoY) was -6.46%.

The chart below shows the trend of the smoothed and seasonally adjusted ZHVI for the 38109 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 38109 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: 38109 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted ($)
Zip Code: 38109 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted
Items per page:
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Month ZHVI ($) MoM Perc. Change (%) YoY Perc. Change (%)
Jan 2015 38921.22797208175 -0.44 14.57
Feb 2015 38626.13941378399 -0.76 11.18
Mar 2015 38336.854575290454 -0.75 8.54
Apr 2015 37927.59748652577 -1.07 5.22
May 2015 37820.484007933665 -0.28 2.72
Jun 2015 37951.2137719222 0.35 1.23
Jul 2015 38318.82079624637 0.97 0.20
Aug 2015 38319.01430737112 0.00 -1.01
Sep 2015 38200.171891434664 -0.31 -2.29
Oct 2015 38111.01241954306 -0.23 -2.59
Nov 2015 38119.8233759745 0.02 -2.75
Dec 2015 38181.63863968582 0.16 -2.33
Jan 2016 38221.807005979026 0.11 -1.80
Feb 2016 38218.5978983763 -0.01 -1.05
Mar 2016 38012.01184218232 -0.54 -0.85
Apr 2016 37824.62381725138 -0.49 -0.27
May 2016 37586.01807978461 -0.63 -0.62
Jun 2016 37533.01334612184 -0.14 -1.10
Jul 2016 37490.350931084235 -0.11 -2.16
Aug 2016 37739.94990296423 0.67 -1.51
Sep 2016 38115.77374458731 1.00 -0.22
Oct 2016 38821.22458502872 1.85 1.86
Nov 2016 39628.59287707616 2.08 3.96
Dec 2016 40432.25575573964 2.03 5.90
Jan 2017 40986.998404233775 1.37 7.24
Feb 2017 41495.32778874845 1.24 8.57
Mar 2017 42111.79737808453 1.49 10.79
Apr 2017 42558.87690365954 1.06 12.52
May 2017 42859.42672716728 0.71 14.03
Jun 2017 43152.02135326722 0.68 14.97
Jul 2017 43922.56277197887 1.79 17.16
Aug 2017 45043.53022997545 2.55 19.35
Sep 2017 46286.22077120492 2.76 21.44
Oct 2017 47659.79925148936 2.97 22.77
Nov 2017 49012.479032375246 2.84 23.68
Dec 2017 50129.911013797035 2.28 23.99
Jan 2018 50499.16269010352 0.74 23.21
Feb 2018 50641.11236269914 0.28 22.04
Mar 2018 50851.497358377506 0.42 20.75
Apr 2018 51513.93155126483 1.30 21.04
May 2018 52172.72027935554 1.28 21.73
Jun 2018 52761.337324798784 1.13 22.27
Jul 2018 53478.672932088666 1.36 21.76
Aug 2018 54278.606123467594 1.50 20.50
Sep 2018 54986.327819141756 1.30 18.80
Oct 2018 55596.575585354505 1.11 16.65
Nov 2018 56291.06486624375 1.25 14.85
Dec 2018 57193.58411178095 1.60 14.09
Jan 2019 57670.29105559785 0.83 14.20
Feb 2019 57790.07136819959 0.21 14.12
Mar 2019 57734.00283630705 -0.10 13.54
Apr 2019 57962.13062620437 0.40 12.52
May 2019 58480.808510734125 0.90 12.09
Jun 2019 59169.70902080057 1.18 12.15
Jul 2019 59652.13456343714 0.82 11.54
Aug 2019 59898.52411254848 0.41 10.35
Sep 2019 59896.56217805032 0.00 8.93
Oct 2019 60015.28015595232 0.20 7.95
Nov 2019 60387.37154833335 0.62 7.28
Dec 2019 61045.1533046021 1.09 6.73
Jan 2020 61961.668986084645 1.50 7.44
Feb 2020 63071.871507454605 1.79 9.14
Mar 2020 64111.00267296738 1.65 11.05
Apr 2020 65440.23529674364 2.07 12.90
May 2020 66308.51221736555 1.33 13.39
Jun 2020 66777.89708883384 0.71 12.86
Jul 2020 66420.35002818317 -0.53 11.35
Aug 2020 66505.89626743594 0.13 11.03
Sep 2020 67335.28890355426 1.25 12.42
Oct 2020 69086.37155361973 2.60 15.12
Nov 2020 70991.40824030801 2.76 17.56
Dec 2020 72842.32885449273 2.61 19.33
Jan 2021 74766.97737241416 2.64 20.67
Feb 2021 76902.64680877578 2.86 21.93
Mar 2021 79201.47536213162 2.99 23.54
Apr 2021 81021.16962166117 2.30 23.81
May 2021 82798.79734995098 2.19 24.87
Jun 2021 84574.97600706904 2.15 26.65
Jul 2021 85525.51422111515 1.12 28.76
Aug 2021 85533.79194261455 0.01 28.61
Sep 2021 84487.68717801756 -1.22 25.47
Oct 2021 84276.49926442592 -0.25 21.99
Nov 2021 84697.2563312309 0.50 19.31
Dec 2021 85537.39756911182 0.99 17.43
Jan 2022 87071.30921711137 1.79 16.46
Feb 2022 88801.61085440493 1.99 15.47
Mar 2022 90807.529826284 2.26 14.65
Apr 2022 92474.9335668581 1.84 14.14
May 2022 94276.87402133706 1.95 13.86
Jun 2022 96687.26312621073 2.56 14.32
Jul 2022 98688.65381412573 2.07 15.39
Aug 2022 100045.75371638504 1.38 16.97
Sep 2022 100449.46360535198 0.40 18.89
Oct 2022 100537.80268845653 0.09 19.30
Nov 2022 100264.7963238465 -0.27 18.38
Dec 2022 99208.15571434154 -1.05 15.98
Jan 2023 97252.93253779279 -1.97 11.69
Feb 2023 95280.25890833308 -2.03 7.30
Mar 2023 94147.70542444954 -1.19 3.68
Apr 2023 93938.5244570544 -0.22 1.58
May 2023 94065.35198079137 0.14 -0.22
Jun 2023 93704.96075049404 -0.38 -3.08
Jul 2023 93244.78009175231 -0.49 -5.52
Aug 2023 92473.9887294571 -0.83 -7.57
Sep 2023 91318.21602616878 -1.25 -9.09
Oct 2023 89493.06890352718 -2.00 -10.99
Nov 2023 87896.98145696077 -1.78 -12.33
Dec 2023 87040.28380035813 -0.97 -12.26
Jan 2024 86774.5264080194 -0.30 -10.77
Feb 2024 87015.35898951742 0.28 -8.67
Mar 2024 87936.34489238565 1.06 -6.60
Apr 2024 89640.72039309195 1.94 -4.57
May 2024 91776.8335214104 2.38 -2.43
Jun 2024 93534.94388785202 1.92 -0.18
Jul 2024 94740.14285284867 1.29 1.60
Aug 2024 94833.76998491085 0.10 2.55
Sep 2024 94905.17313161756 0.08 3.93
Oct 2024 95270.61803122093 0.39 6.46
Nov 2024 96318.0515537166 1.10 9.58
Dec 2024 97237.49213243579 0.96 11.72
Jan 2025 98076.82747426955 0.86 13.03
Feb 2025 98587.70785612219 0.52 13.30
Mar 2025 98924.24217802922 0.34 12.50
Apr 2025 98572.1543294628 -0.36 9.96
May 2025 97564.07919832987 -1.02 6.31
Jun 2025 96374.10207087127 -1.22 3.04
Jul 2025 95408.63487496723 -1.00 0.71
Aug 2025 95068.01944969677 -0.36 0.25
Sep 2025 94767.00127859681 -0.32 -0.15
Oct 2025 94367.20917598413 -0.42 -0.95
Nov 2025 93533.39966649255 -0.88 -2.89
Dec 2025 92804.40487742594 -0.78 -4.56
Jan 2026 92467.4875706773 -0.36 -5.72
Feb 2026 92217.89664561192 -0.27 -6.46