Median home value in zip code 38116 (Memphis, TN) is $155,329, up 0.2% year over year. Part of the Memphis, TN-MS-AR metropolitan area.

Home Value$155,329

YoY Change

+0.2%

Prices rising — worse for buyers.

Affordability

Enter your income for 38116 (Memphis).

Income (annual)

Down Payment

$31,066 on $155,329

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

Affordable17.6% of income

Under the 28% guideline.

PITI$1,097

P/I17.6%

Afford$248K

Room+$92K

P&I $785Tax $145Ins $167

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

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

Metro Analysis

38116 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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