Zip Code: 38128 (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 38128 Zip Code (Memphis, Tennessee) in February 2026 was $145,958.307. The month over month percentage change (MoM) was 0.20%, and the year over year percentage change (YoY) was -0.23%.

The chart below shows the trend of the smoothed and seasonally adjusted ZHVI for the 38128 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 38128 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: 38128 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted ($)
Zip Code: 38128 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted
Items per page:
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Month ZHVI ($) MoM Perc. Change (%) YoY Perc. Change (%)
Jan 2015 63235.630728537326 0.76 9.88
Feb 2015 63461.858035409154 0.36 8.52
Mar 2015 63487.3223426257 0.04 7.31
Apr 2015 63597.31349710652 0.17 6.37
May 2015 63899.72319701258 0.48 5.90
Jun 2015 64171.63957291152 0.43 5.25
Jul 2015 64508.165848354234 0.52 4.53
Aug 2015 64900.73900254539 0.61 4.28
Sep 2015 65521.59616411396 0.96 4.93
Oct 2015 66261.7076865376 1.13 6.43
Nov 2015 66908.25289985906 0.98 7.29
Dec 2015 67453.60805197818 0.82 7.48
Jan 2016 67872.65033263578 0.62 7.33
Feb 2016 68007.41920524529 0.20 7.16
Mar 2016 67810.33735336752 -0.29 6.81
Apr 2016 67418.3295644379 -0.58 6.01
May 2016 67057.77910498458 -0.53 4.94
Jun 2016 66945.16776531785 -0.17 4.32
Jul 2016 66876.7438121542 -0.10 3.67
Aug 2016 67286.53011460327 0.61 3.68
Sep 2016 67888.45750936188 0.90 3.61
Oct 2016 68762.64209527528 1.29 3.77
Nov 2016 69631.72405634545 1.26 4.07
Dec 2016 70491.4388072392 1.24 4.50
Jan 2017 70951.78076254642 0.65 4.54
Feb 2017 71141.87340779552 0.27 4.61
Mar 2017 71344.23695288891 0.28 5.21
Apr 2017 71857.90480915239 0.72 6.59
May 2017 72430.56989378251 0.80 8.01
Jun 2017 72998.80417645692 0.79 9.04
Jul 2017 73555.00141233201 0.76 9.99
Aug 2017 74221.89976090557 0.91 10.31
Sep 2017 74827.0020575326 0.82 10.22
Oct 2017 75500.05993580767 0.90 9.80
Nov 2017 76186.66577530459 0.91 9.41
Dec 2017 77108.42043386986 1.21 9.39
Jan 2018 77813.09201187595 0.91 9.67
Feb 2018 78423.25270617892 0.78 10.24
Mar 2018 78926.88672382866 0.64 10.63
Apr 2018 79915.20533373079 1.25 11.21
May 2018 80870.72444582812 1.20 11.65
Jun 2018 81961.41260802596 1.35 12.28
Jul 2018 82865.17527056676 1.10 12.66
Aug 2018 83924.50586616302 1.28 13.07
Sep 2018 84649.70532903694 0.86 13.13
Oct 2018 85283.71453386889 0.75 12.96
Nov 2018 85966.3970736072 0.80 12.84
Dec 2018 86879.40475897469 1.06 12.67
Jan 2019 87746.87588370587 1.00 12.77
Feb 2019 88594.47763265444 0.97 12.97
Mar 2019 89372.4402539864 0.88 13.23
Apr 2019 90088.5847564969 0.80 12.73
May 2019 90525.0266892849 0.48 11.94
Jun 2019 90893.31591723584 0.41 10.90
Jul 2019 91193.4534557491 0.33 10.05
Aug 2019 91434.36630218405 0.26 8.95
Sep 2019 91642.31304357656 0.23 8.26
Oct 2019 92036.11259057983 0.43 7.92
Nov 2019 92692.24195847289 0.71 7.82
Dec 2019 93553.46051101497 0.93 7.68
Jan 2020 94407.46161647589 0.91 7.59
Feb 2020 95380.66530316505 1.03 7.66
Mar 2020 96245.45397348424 0.91 7.69
Apr 2020 97191.381936796 0.98 7.88
May 2020 97775.20024872472 0.60 8.01
Jun 2020 98292.12017582626 0.53 8.14
Jul 2020 98553.58030371273 0.27 8.07
Aug 2020 99274.40938833448 0.73 8.57
Sep 2020 100543.53091424046 1.28 9.71
Oct 2020 102524.87280993252 1.97 11.40
Nov 2020 104952.76127200945 2.37 13.23
Dec 2020 107244.7026660199 2.18 14.64
Jan 2021 109552.22345708187 2.15 16.04
Feb 2021 111624.68675405894 1.89 17.03
Mar 2021 113842.82014680972 1.99 18.28
Apr 2021 116053.16524673771 1.94 19.41
May 2021 118308.22649882773 1.94 21.00
Jun 2021 120750.7788557537 2.07 22.85
Jul 2021 122448.19599352736 1.41 24.25
Aug 2021 123398.91502941742 0.78 24.30
Sep 2021 123585.52299816678 0.15 22.92
Oct 2021 123950.59606449476 0.30 20.90
Nov 2021 124994.1478983083 0.84 19.10
Dec 2021 126389.13149452604 1.12 17.85
Jan 2022 128705.71582264458 1.83 17.48
Feb 2022 131372.6513022766 2.07 17.69
Mar 2022 134276.23297431786 2.21 17.95
Apr 2022 136915.1678401803 1.97 17.98
May 2022 139382.44559275592 1.80 17.81
Jun 2022 141838.07815916822 1.76 17.46
Jul 2022 143539.50762054088 1.20 17.23
Aug 2022 144284.76449558605 0.52 16.93
Sep 2022 144456.95748226022 0.12 16.89
Oct 2022 144628.58884826177 0.12 16.68
Nov 2022 144707.23488926774 0.05 15.77
Dec 2022 144173.7411436851 -0.37 14.07
Jan 2023 143209.72506153342 -0.67 11.27
Feb 2023 142436.27501875279 -0.54 8.42
Mar 2023 142832.88095432322 0.28 6.37
Apr 2023 143773.4060242803 0.66 5.01
May 2023 144676.26069129325 0.63 3.80
Jun 2023 145044.7821054325 0.26 2.26
Jul 2023 144975.99715214674 -0.05 1.00
Aug 2023 144475.9712839356 -0.34 0.13
Sep 2023 143205.20171506016 -0.88 -0.87
Oct 2023 141460.8721005499 -1.22 -2.19
Nov 2023 139808.4261256587 -1.17 -3.38
Dec 2023 138821.3450827477 -0.71 -3.71
Jan 2024 138435.1916689628 -0.28 -3.33
Feb 2024 138943.96298674968 0.37 -2.45
Mar 2024 140005.17708505664 0.76 -1.98
Apr 2024 141574.09815841797 1.12 -1.53
May 2024 143004.25488751076 1.01 -1.16
Jun 2024 143971.78689063995 0.68 -0.74
Jul 2024 144573.4889539855 0.42 -0.28
Aug 2024 144486.05100844274 -0.06 0.01
Sep 2024 144196.76597334832 -0.20 0.69
Oct 2024 143973.0933832728 -0.15 1.78
Nov 2024 144373.45815508513 0.28 3.27
Dec 2024 144980.46362546514 0.42 4.44
Jan 2025 145771.31482995127 0.55 5.30
Feb 2025 146299.13345466935 0.36 5.29
Mar 2025 146522.75824871563 0.15 4.66
Apr 2025 146248.3034104137 -0.19 3.30
May 2025 145686.73598627187 -0.38 1.88
Jun 2025 145332.49373528428 -0.24 0.95
Jul 2025 145137.95961366934 -0.13 0.39
Aug 2025 145247.27260173476 0.08 0.53
Sep 2025 145277.15527777557 0.02 0.75
Oct 2025 145248.92255739533 -0.02 0.89
Nov 2025 145196.59621019728 -0.04 0.57
Dec 2025 145346.4912410734 0.10 0.25
Jan 2026 145668.57686620252 0.22 -0.07
Feb 2026 145958.30735779015 0.20 -0.23