Median home value in zip code 38118 (Memphis, TN) is $122,803, down 2.1% year over year. Part of the Memphis, TN-MS-AR metropolitan area.

Home Value$122,803

YoY Change

-2.1%

Prices falling — better for buyers.

Affordability

Enter your income for 38118 (Memphis).

Income (annual)

Down Payment

$24,561 on $122,803

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

Affordable14.4% of income

Under the 28% guideline.

PITI$902

P/I14.4%

Afford$238K

Room+$115K

P&I $621Tax $115Ins $167

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

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

Metro Analysis

38118 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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