Zip Code: 38104 (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 38104 Zip Code (Memphis, Tennessee) in February 2026 was $252,479.526. The month over month percentage change (MoM) was -0.46%, and the year over year percentage change (YoY) was -4.32%.

The chart below shows the trend of the smoothed and seasonally adjusted ZHVI for the 38104 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 38104 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: 38104 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted ($)
Zip Code: 38104 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted
1 – 10 of 134
Month ZHVI ($) MoM Perc. Change (%) YoY Perc. Change (%)
Jan 2015 148875.02075472043 0.90 4.56
Feb 2015 149787.1884325431 0.61 4.42
Mar 2015 150136.46966063417 0.23 4.16
Apr 2015 150262.09468664753 0.08 3.63
May 2015 150603.24934232907 0.23 3.26
Jun 2015 151216.8977548829 0.41 3.24
Jul 2015 152207.72028473415 0.66 3.85
Aug 2015 153019.2360669511 0.53 4.72
Sep 2015 154097.24050397644 0.70 5.69
Oct 2015 155157.6377523795 0.69 6.52
Nov 2015 156439.54187658793 0.83 6.83
Dec 2015 157574.72593790863 0.73 6.79
Jan 2016 158775.2663281507 0.76 6.65
Feb 2016 160118.681022989 0.85 6.90
Mar 2016 161647.8183416389 0.96 7.67
Apr 2016 163199.3068905803 0.96 8.61
May 2016 164546.30797272167 0.83 9.26
Jun 2016 165744.68796984595 0.73 9.61
Jul 2016 166680.66607297654 0.56 9.51
Aug 2016 167841.17170601236 0.70 9.69
Sep 2016 169387.83524221813 0.92 9.92
Oct 2016 171175.0411425138 1.06 10.32
Nov 2016 172879.29242719084 1.00 10.51
Dec 2016 174357.0569592738 0.86 10.65
Jan 2017 175117.1166241543 0.44 10.29
Feb 2017 175837.36980611863 0.41 9.82
Mar 2017 176434.99670098862 0.34 9.15
Apr 2017 178024.27619380635 0.90 9.08
May 2017 179194.91076522868 0.66 8.90
Jun 2017 180388.48977333028 0.67 8.84
Jul 2017 181504.05606323804 0.62 8.89
Aug 2017 183120.99451819074 0.89 9.10
Sep 2017 184725.12726112836 0.88 9.06
Oct 2017 186020.671561713 0.70 8.67
Nov 2017 187477.33587422175 0.78 8.44
Dec 2017 189047.74521959052 0.84 8.43
Jan 2018 190333.8559097125 0.68 8.69
Feb 2018 190771.40554045254 0.23 8.49
Mar 2018 191079.09659814602 0.16 8.30
Apr 2018 191903.60566166075 0.43 7.80
May 2018 193292.36961985772 0.72 7.87
Jun 2018 194755.96291708224 0.76 7.97
Jul 2018 196428.48812882285 0.86 8.22
Aug 2018 197588.77814081774 0.59 7.90
Sep 2018 198545.8484770034 0.48 7.48
Oct 2018 199428.2468404542 0.44 7.21
Nov 2018 201198.3353085571 0.89 7.32
Dec 2018 202978.48962577825 0.89 7.37
Jan 2019 203679.5085915413 0.35 7.01
Feb 2019 203481.8753545235 -0.10 6.66
Mar 2019 203331.73452062 -0.07 6.41
Apr 2019 203684.91343043465 0.17 6.14
May 2019 204383.69514549116 0.34 5.74
Jun 2019 205130.94905135172 0.37 5.33
Jul 2019 206106.4602561216 0.48 4.93
Aug 2019 207040.5534351756 0.45 4.78
Sep 2019 208107.34844060848 0.52 4.82
Oct 2019 209158.31893991274 0.51 4.88
Nov 2019 210536.51416608947 0.66 4.64
Dec 2019 211729.03292150548 0.57 4.31
Jan 2020 213000.77965498294 0.60 4.58
Feb 2020 214240.21498082206 0.58 5.29
Mar 2020 215569.9097556447 0.62 6.02
Apr 2020 216814.704114161 0.58 6.45
May 2020 217846.62428138495 0.48 6.59
Jun 2020 218873.40230506912 0.47 6.70
Jul 2020 220530.70378459967 0.76 7.00
Aug 2020 222704.60522236206 0.99 7.57
Sep 2020 225905.74205723775 1.44 8.55
Oct 2020 229493.76664475954 1.59 9.72
Nov 2020 233650.9062214039 1.81 10.98
Dec 2020 237269.5620517408 1.55 12.06
Jan 2021 240666.15893434917 1.43 12.99
Feb 2021 243506.18420188906 1.18 13.66
Mar 2021 247023.41559401373 1.44 14.59
Apr 2021 250657.5862169897 1.47 15.61
May 2021 254881.32143118678 1.69 17.00
Jun 2021 258660.63219092388 1.48 18.18
Jul 2021 261457.71258204916 1.08 18.56
Aug 2021 262711.48615382233 0.48 17.96
Sep 2021 263056.4168904502 0.13 16.45
Oct 2021 263524.5035018508 0.18 14.83
Nov 2021 264659.34715086 0.43 13.27
Dec 2021 266144.99962327007 0.56 12.17
Jan 2022 268330.1717385422 0.82 11.50
Feb 2022 271010.1321165732 1.00 11.30
Mar 2022 274465.96674283664 1.27 11.11
Apr 2022 278314.05970957334 1.40 11.03
May 2022 281787.76614854165 1.25 10.56
Jun 2022 284183.9483164781 0.85 9.87
Jul 2022 284454.34987369843 0.10 8.80
Aug 2022 283046.47846959607 -0.49 7.74
Sep 2022 280580.4226724696 -0.87 6.66
Oct 2022 278356.10773315834 -0.79 5.63
Nov 2022 276585.0004474223 -0.64 4.51
Dec 2022 274974.8508550378 -0.58 3.32
Jan 2023 272932.70873344905 -0.74 1.72
Feb 2023 271217.5552977591 -0.63 0.08
Mar 2023 270280.40435755736 -0.35 -1.52
Apr 2023 270040.7342229678 -0.09 -2.97
May 2023 270067.88137251674 0.01 -4.16
Jun 2023 270063.0454247407 0.00 -4.97
Jul 2023 269948.20801054506 -0.04 -5.10
Aug 2023 270189.0578772793 0.09 -4.54
Sep 2023 270588.9239632353 0.15 -3.56
Oct 2023 270647.56906371744 0.02 -2.77
Nov 2023 270410.6322488278 -0.09 -2.23
Dec 2023 270051.57190159644 -0.13 -1.79
Jan 2024 270376.2974225247 0.12 -0.94
Feb 2024 271096.7392658792 0.27 -0.04
Mar 2024 272211.5968680724 0.41 0.72
Apr 2024 273419.58824922424 0.44 1.25
May 2024 273615.1142697993 0.07 1.31
Jun 2024 272532.194913422 -0.40 0.91
Jul 2024 270348.2535176633 -0.80 0.15
Aug 2024 267693.05603633873 -0.98 -0.92
Sep 2024 265265.6661091381 -0.91 -1.97
Oct 2024 263673.52452833904 -0.60 -2.58
Nov 2024 263084.13076233893 -0.22 -2.71
Dec 2024 263110.2999703025 0.01 -2.57
Jan 2025 263610.23329493636 0.19 -2.50
Feb 2025 263881.443654392 0.10 -2.66
Mar 2025 263587.9377354988 -0.11 -3.17
Apr 2025 262650.47219728696 -0.36 -3.94
May 2025 261560.112800888 -0.41 -4.41
Jun 2025 260670.84542646082 -0.34 -4.35
Jul 2025 259578.75264309722 -0.42 -3.98
Aug 2025 258292.85950831723 -0.49 -3.51
Sep 2025 256855.3558230554 -0.56 -3.17
Oct 2025 255578.12484855184 -0.50 -3.07
Nov 2025 254769.52128625396 -0.32 -3.16
Dec 2025 254539.2650290584 -0.09 -3.26
Jan 2026 253645.3171497349 -0.35 -3.78
Feb 2026 252479.5260737122 -0.46 -4.32