Median home value in zip code 38002 (Lakeland, TN) is $405,214, down 1.6% year over year. Part of the Memphis, TN-MS-AR metropolitan area.

Home Value$405,214

YoY Change

-1.6%

Prices falling — better for buyers.

Affordability

Enter your income for 38002 (Lakeland).

Income (annual)

Down Payment

$81,043 on $405,214

Example: $75,000 household income. Change it above to see your own.

Out of reach41.5% of income

Need $111,171/yr to afford.

PITI$2,594

P/I41.5%

Afford$273K

Gap-$132K

P&I $2,049Tax $378Ins $167

6.50% 30yr, 20% down, county tax + TN ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Metro Analysis

38002 is part of the Memphis, TN-MS-AR metropolitan area. See full stress scores, crash risk, early warning signals, and 12-month price forecast for the metro.

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