Zip Code: 38111 (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 38111 Zip Code (Memphis, Tennessee) in January 2026 was $128,919.36. The month over month percentage change (MoM) was 0.35%, and the year over year percentage change (YoY) was -3.08%.

The chart below shows the trend of the smoothed and seasonally adjusted ZHVI for the 38111 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 38111 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: 38111 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted ($)
Zip Code: 38111 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted
Items per page:
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Month ZHVI ($) MoM Perc. Change (%) YoY Perc. Change (%)
Jan 2015 65631.90567996174 0.62 3.87
Feb 2015 65749.04868216877 0.18 4.05
Mar 2015 65762.61376072692 0.02 4.38
Apr 2015 65789.68070783622 0.04 3.53
May 2015 66082.55100555153 0.45 2.77
Jun 2015 66410.57602360488 0.50 2.17
Jul 2015 66745.0309514556 0.50 2.01
Aug 2015 66839.43225707175 0.14 2.17
Sep 2015 66978.37430747293 0.21 2.45
Oct 2015 67123.81404738693 0.22 3.23
Nov 2015 67321.73431778325 0.30 3.54
Dec 2015 67409.04208891763 0.13 3.34
Jan 2016 67518.8140778813 0.16 2.88
Feb 2016 67604.6482155238 0.13 2.82
Mar 2016 67310.79602996881 -0.43 2.35
Apr 2016 66819.27094978122 -0.73 1.57
May 2016 66391.30411642401 -0.64 0.47
Jun 2016 66289.47532763229 -0.15 -0.18
Jul 2016 66034.45095028279 -0.38 -1.06
Aug 2016 65838.88289639917 -0.30 -1.50
Sep 2016 65652.39913545904 -0.28 -1.98
Oct 2016 65840.13965832147 0.29 -1.91
Nov 2016 66298.61676532909 0.70 -1.52
Dec 2016 66917.02048278342 0.93 -0.73
Jan 2017 67901.39732328297 1.47 0.57
Feb 2017 68904.12106465657 1.48 1.92
Mar 2017 69842.09847384754 1.36 3.76
Apr 2017 70411.82521713346 0.82 5.38
May 2017 70704.19762993371 0.42 6.50
Jun 2017 70947.98139159546 0.35 7.03
Jul 2017 71390.32637183239 0.62 8.11
Aug 2017 72075.69668428398 0.96 9.47
Sep 2017 73053.20695449201 1.36 11.27
Oct 2017 73944.55907896532 1.22 12.31
Nov 2017 74800.91057087696 1.16 12.82
Dec 2017 75364.80872500507 0.75 12.62
Jan 2018 75702.14277751818 0.45 11.49
Feb 2018 76027.6350075387 0.43 10.34
Mar 2018 76656.79333236908 0.83 9.76
Apr 2018 77791.68999908572 1.48 10.48
May 2018 78959.1745163724 1.50 11.68
Jun 2018 79790.55872726192 1.05 12.46
Jul 2018 80424.4187436723 0.79 12.66
Aug 2018 81163.1223944847 0.92 12.61
Sep 2018 82061.08708017139 1.11 12.33
Oct 2018 83051.73514197562 1.21 12.32
Nov 2018 83972.49688657497 1.11 12.26
Dec 2018 85101.44789365331 1.34 12.92
Jan 2019 85944.8159019432 0.99 13.53
Feb 2019 86714.50904535665 0.90 14.06
Mar 2019 87199.72818628348 0.56 13.75
Apr 2019 87440.72109890182 0.28 12.40
May 2019 87693.03084725507 0.29 11.06
Jun 2019 88107.18252589724 0.47 10.42
Jul 2019 88662.85324797477 0.63 10.24
Aug 2019 88732.1086101902 0.08 9.33
Sep 2019 88546.56351141438 -0.21 7.90
Oct 2019 88313.48520919048 -0.26 6.34
Nov 2019 88652.3426496702 0.38 5.57
Dec 2019 89480.78062703193 0.93 5.15
Jan 2020 90452.76375626813 1.09 5.25
Feb 2020 91513.42194548291 1.17 5.53
Mar 2020 92358.90595330867 0.92 5.92
Apr 2020 93564.97981741402 1.31 7.00
May 2020 94434.05198303527 0.93 7.69
Jun 2020 94982.99704896905 0.58 7.80
Jul 2020 95257.58791111002 0.29 7.44
Aug 2020 96062.80760709882 0.85 8.26
Sep 2020 97863.75014458108 1.88 10.52
Oct 2020 100602.79409432139 2.80 13.92
Nov 2020 103651.29657738125 3.03 16.92
Dec 2020 106540.44927553601 2.79 19.07
Jan 2021 109063.97036736115 2.37 20.58
Feb 2021 111205.77325832582 1.96 21.52
Mar 2021 113353.0330872463 1.93 22.73
Apr 2021 115135.1856392295 1.57 23.05
May 2021 116931.256523556 1.56 23.82
Jun 2021 118759.03481051272 1.56 25.03
Jul 2021 120489.67178807699 1.46 26.49
Aug 2021 121745.88786973555 1.04 26.74
Sep 2021 122567.61613383905 0.68 25.24
Oct 2021 123660.52257637384 0.89 22.92
Nov 2021 125429.40033783104 1.43 21.01
Dec 2021 127230.00769670507 1.44 19.42
Jan 2022 129145.49939476048 1.51 18.41
Feb 2022 130826.3187186612 1.30 17.64
Mar 2022 132782.6794915493 1.50 17.14
Apr 2022 135005.0758402653 1.67 17.26
May 2022 137420.1786764071 1.79 17.52
Jun 2022 139777.51583138612 1.72 17.70
Jul 2022 141388.93082331005 1.15 17.35
Aug 2022 142331.03102055634 0.67 16.91
Sep 2022 142763.02273440626 0.30 16.48
Oct 2022 143219.907886026 0.32 15.82
Nov 2022 143648.0109392995 0.30 14.53
Dec 2022 143179.29577077625 -0.33 12.54
Jan 2023 141817.94400422834 -0.95 9.81
Feb 2023 140345.58493463063 -1.04 7.28
Mar 2023 139776.4453043901 -0.41 5.27
Apr 2023 139625.23394805528 -0.11 3.42
May 2023 139451.77702734605 -0.12 1.48
Jun 2023 138836.3544519105 -0.44 -0.67
Jul 2023 138148.50653015482 -0.49 -2.29
Aug 2023 137251.81341911491 -0.65 -3.57
Sep 2023 136281.25595930757 -0.71 -4.54
Oct 2023 135046.45603320876 -0.91 -5.71
Nov 2023 134011.84260720908 -0.77 -6.71
Dec 2023 133295.88774202517 -0.53 -6.90
Jan 2024 133069.78765999034 -0.17 -6.17
Feb 2024 133135.56127282846 0.05 -5.14
Mar 2024 133571.98042058136 0.33 -4.44
Apr 2024 134250.67933905366 0.51 -3.85
May 2024 134836.83533927167 0.44 -3.31
Jun 2024 134896.65476789957 0.04 -2.84
Jul 2024 134174.75300285328 -0.53 -2.88
Aug 2024 132778.45432392016 -1.04 -3.26
Sep 2024 131427.9236502136 -1.02 -3.56
Oct 2024 130885.86385583838 -0.41 -3.08
Nov 2024 131401.31908277702 0.39 -1.95
Dec 2024 132226.13935502883 0.63 -0.80
Jan 2025 133016.17658733702 0.60 -0.04
Feb 2025 133226.56090816634 0.16 0.07
Mar 2025 132826.75758008732 -0.30 -0.56
Apr 2025 131737.69070465615 -0.82 -1.87
May 2025 130136.01562781993 -1.22 -3.49
Jun 2025 128921.21606405785 -0.93 -4.43
Jul 2025 128184.6290014538 -0.57 -4.46
Aug 2025 127958.83189319547 -0.18 -3.63
Sep 2025 127704.23738014343 -0.20 -2.83
Oct 2025 127642.03687313541 -0.05 -2.48
Nov 2025 127940.87225889227 0.23 -2.63
Dec 2025 128473.95635973541 0.42 -2.84
Jan 2026 128919.35995149035 0.35 -3.08