Zip Code: 38112 (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 38112 Zip Code (Memphis, Tennessee) in January 2026 was $122,887.915. The month over month percentage change (MoM) was -0.31%, and the year over year percentage change (YoY) was -8.95%.

The chart below shows the trend of the smoothed and seasonally adjusted ZHVI for the 38112 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 38112 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: 38112 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted ($)
Zip Code: 38112 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted
Items per page:
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Month ZHVI ($) MoM Perc. Change (%) YoY Perc. Change (%)
Jan 2015 60204.49400195934 0.45 0.94
Feb 2015 60412.46698434822 0.35 1.50
Mar 2015 60201.65216057503 -0.35 1.40
Apr 2015 59663.18751086652 -0.89 -0.62
May 2015 59152.362494177265 -0.86 -2.41
Jun 2015 58987.188688754686 -0.28 -3.22
Jul 2015 59038.78761075332 0.09 -3.12
Aug 2015 59466.16740364293 0.72 -2.12
Sep 2015 60297.11989804434 1.40 -0.34
Oct 2015 61456.387845785655 1.92 2.29
Nov 2015 62212.015323339954 1.23 3.95
Dec 2015 62888.41899553227 1.09 4.93
Jan 2016 63541.84587742051 1.04 5.54
Feb 2016 64617.60138094504 1.69 6.96
Mar 2016 65205.60131508996 0.91 8.31
Apr 2016 65635.35624124746 0.66 10.01
May 2016 65916.71832790523 0.43 11.44
Jun 2016 66376.83183091118 0.70 12.53
Jul 2016 66300.64924562219 -0.11 12.30
Aug 2016 66059.09328699199 -0.36 11.09
Sep 2016 65571.76059134917 -0.74 8.75
Oct 2016 65747.19281858939 0.27 6.98
Nov 2016 66243.5072473465 0.76 6.48
Dec 2016 66737.31985880286 0.75 6.12
Jan 2017 67008.94721445612 0.41 5.46
Feb 2017 67030.99619663696 0.03 3.74
Mar 2017 67289.85286445053 0.39 3.20
Apr 2017 67742.13260397175 0.67 3.21
May 2017 67987.3228674523 0.36 3.14
Jun 2017 68464.12298352433 0.70 3.15
Jul 2017 69599.94217368371 1.66 4.98
Aug 2017 71239.51169531373 2.36 7.84
Sep 2017 72653.04852476664 1.98 10.80
Oct 2017 73439.72727389669 1.08 11.70
Nov 2017 74184.32861081623 1.01 11.99
Dec 2017 74853.4778043831 0.90 12.16
Jan 2018 75072.92170617284 0.29 12.03
Feb 2018 74815.65892396639 -0.34 11.61
Mar 2018 74093.93667540466 -0.96 10.11
Apr 2018 73797.04558515377 -0.40 8.94
May 2018 73629.62703184615 -0.23 8.30
Jun 2018 73682.10932399223 0.07 7.62
Jul 2018 73796.08821672991 0.16 6.03
Aug 2018 74147.49254619067 0.48 4.08
Sep 2018 74661.80596168364 0.69 2.77
Oct 2018 75323.44227570617 0.89 2.57
Nov 2018 76293.63496256286 1.29 2.84
Dec 2018 77820.50049355678 2.00 3.96
Jan 2019 78817.3727691316 1.28 4.99
Feb 2019 79442.15607467237 0.79 6.18
Mar 2019 79762.31437649911 0.40 7.65
Apr 2019 80156.60096017242 0.49 8.62
May 2019 80719.66886906039 0.70 9.63
Jun 2019 81249.29127935326 0.66 10.27
Jul 2019 81891.89539983055 0.79 10.97
Aug 2019 81797.64438321664 -0.11 10.32
Sep 2019 81495.78573144553 -0.37 9.15
Oct 2019 81036.11885308112 -0.56 7.58
Nov 2019 81393.0335815489 0.44 6.68
Dec 2019 82170.33620391677 0.96 5.59
Jan 2020 83318.10033119404 1.40 5.71
Feb 2020 84541.70485136168 1.47 6.42
Mar 2020 86054.83021055574 1.79 7.89
Apr 2020 87995.36840457744 2.26 9.78
May 2020 89538.3875805434 1.75 10.93
Jun 2020 90381.72368980262 0.94 11.24
Jul 2020 90691.798406901 0.34 10.75
Aug 2020 91352.16651897662 0.73 11.68
Sep 2020 93003.66356509899 1.81 14.12
Oct 2020 95698.97511710692 2.90 18.09
Nov 2020 98745.00928900583 3.18 21.32
Dec 2020 101185.64606137366 2.47 23.14
Jan 2021 103199.01788021723 1.99 23.86
Feb 2021 105095.76106125368 1.84 24.31
Mar 2021 107527.34055087721 2.31 24.95
Apr 2021 110152.66422532621 2.44 25.18
May 2021 113271.95154188515 2.83 26.51
Jun 2021 116460.41212207584 2.82 28.85
Jul 2021 118589.0989638703 1.83 30.76
Aug 2021 119460.65179922308 0.74 30.77
Sep 2021 119867.05395085928 0.34 28.88
Oct 2021 121087.73863059527 1.02 26.53
Nov 2021 123083.77162595815 1.65 24.65
Dec 2021 125598.80723774317 2.04 24.13
Jan 2022 128389.5256284747 2.22 24.41
Feb 2022 131119.16304451306 2.13 24.76
Mar 2022 133345.29345389173 1.70 24.01
Apr 2022 135081.54027497346 1.30 22.63
May 2022 136594.0521862899 1.12 20.59
Jun 2022 138173.60927030726 1.16 18.64
Jul 2022 138939.59755942717 0.55 17.16
Aug 2022 138940.5812061593 0.00 16.31
Sep 2022 138305.62680780425 -0.46 15.38
Oct 2022 137887.57748746456 -0.30 13.87
Nov 2022 137756.96305205775 -0.09 11.92
Dec 2022 137197.77471970636 -0.41 9.24
Jan 2023 136358.3250212411 -0.61 6.21
Feb 2023 135748.64867350893 -0.45 3.53
Mar 2023 135894.73112671965 0.11 1.91
Apr 2023 135962.37305323686 0.05 0.65
May 2023 135922.51270994623 -0.03 -0.49
Jun 2023 135660.643550101 -0.19 -1.82
Jul 2023 135181.9944252513 -0.35 -2.70
Aug 2023 134550.7797119645 -0.47 -3.16
Sep 2023 133332.29662074536 -0.91 -3.60
Oct 2023 132187.40015362718 -0.86 -4.13
Nov 2023 131421.78544858206 -0.58 -4.60
Dec 2023 131167.04068242127 -0.19 -4.40
Jan 2024 131379.4385820968 0.16 -3.65
Feb 2024 131883.75552244383 0.38 -2.85
Mar 2024 132627.304910593 0.56 -2.40
Apr 2024 133703.41759029438 0.81 -1.66
May 2024 134431.4049125671 0.54 -1.10
Jun 2024 134785.1947174295 0.26 -0.64
Jul 2024 134363.4219876267 -0.31 -0.61
Aug 2024 133130.28634874983 -0.92 -1.06
Sep 2024 131792.69774709872 -1.00 -1.15
Oct 2024 131525.48825123257 -0.20 -0.50
Nov 2024 132415.40518131497 0.68 0.76
Dec 2024 133792.40121163728 1.04 2.00
Jan 2025 134970.17900819352 0.88 2.73
Feb 2025 135779.03578440365 0.60 2.95
Mar 2025 135886.4938879092 0.08 2.46
Apr 2025 134563.3681005649 -0.97 0.64
May 2025 132167.92240177494 -1.78 -1.68
Jun 2025 129760.19214864308 -1.82 -3.73
Jul 2025 127885.41987779153 -1.44 -4.82
Aug 2025 126495.5926101543 -1.09 -4.98
Sep 2025 125247.89423064333 -0.99 -4.97
Oct 2025 124277.15381713246 -0.77 -5.51
Nov 2025 123678.14316220947 -0.48 -6.60
Dec 2025 123266.26951105149 -0.33 -7.87
Jan 2026 122887.91544822184 -0.31 -8.95