Zip Code: 38111 (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 38111 Zip Code (Memphis, Tennessee) in February 2026 was $129,934.505. The month over month percentage change (MoM) was 0.09%, and the year over year percentage change (YoY) was -3.15%.

The chart below shows the trend of the smoothed and seasonally adjusted ZHVI for the 38111 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 38111 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: 38111 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted ($)
Zip Code: 38111 (Memphis, Tennessee) - Trend of Zillow Home Value Index (ZHVI), Smooth and Seasonally Adjusted
1 – 10 of 134
Month ZHVI ($) MoM Perc. Change (%) YoY Perc. Change (%)
Jan 2015 66091.06357756416 0.62 3.87
Feb 2015 66209.0261070126 0.18 4.05
Mar 2015 66222.68608625796 0.02 4.38
Apr 2015 66249.94239252729 0.04 3.53
May 2015 66544.86159783984 0.45 2.77
Jun 2015 66875.1814643528 0.50 2.17
Jul 2015 67211.97622402654 0.50 2.01
Aug 2015 67307.03795698466 0.14 2.17
Sep 2015 67446.9520398004 0.21 2.45
Oct 2015 67593.40926967625 0.22 3.23
Nov 2015 67792.71418149518 0.30 3.54
Dec 2015 67880.63275391929 0.13 3.34
Jan 2016 67991.17270284308 0.16 2.88
Feb 2016 68077.60733230087 0.13 2.82
Mar 2016 67781.69936990492 -0.43 2.35
Apr 2016 67286.73560208363 -0.73 1.57
May 2016 66855.7747317651 -0.64 0.47
Jun 2016 66753.2335532889 -0.15 -0.18
Jul 2016 66496.4250367204 -0.38 -1.06
Aug 2016 66299.48879741646 -0.30 -1.50
Sep 2016 66111.70040436603 -0.28 -1.98
Oct 2016 66300.75435158936 0.29 -1.91
Nov 2016 66762.43894407788 0.70 -1.52
Dec 2016 67385.1689864779 0.93 -0.73
Jan 2017 68376.43248364008 1.47 0.57
Feb 2017 69386.1712357801 1.48 1.92
Mar 2017 70330.71069327275 1.36 3.76
Apr 2017 70904.42321955466 0.82 5.38
May 2017 71198.8410567714 0.42 6.50
Jun 2017 71444.33031880397 0.35 7.03
Jul 2017 71889.76992487929 0.62 8.11
Aug 2017 72579.93505760137 0.96 9.47
Sep 2017 73564.2839462512 1.36 11.27
Oct 2017 74461.87193060479 1.22 12.31
Nov 2017 75324.2144195256 1.16 12.82
Dec 2017 75892.05758009883 0.75 12.62
Jan 2018 76231.75160666322 0.45 11.49
Feb 2018 76559.52096587072 0.43 10.34
Mar 2018 77193.0808544024 0.83 9.76
Apr 2018 78335.9172078017 1.48 10.48
May 2018 79511.56939492653 1.50 11.68
Jun 2018 80348.76993283589 1.05 12.46
Jul 2018 80987.06440577308 0.79 12.66
Aug 2018 81730.93599452275 0.92 12.61
Sep 2018 82635.18280127434 1.11 12.33
Oct 2018 83632.76139292694 1.21 12.32
Nov 2018 84559.96474580296 1.11 12.26
Dec 2018 85696.81384399318 1.34 12.92
Jan 2019 86546.0820174174 0.99 13.53
Feb 2019 87321.15989988216 0.90 14.06
Mar 2019 87809.77361237165 0.56 13.75
Apr 2019 88052.45250070484 0.28 12.40
May 2019 88306.52739685318 0.29 11.06
Jun 2019 88723.57646224777 0.47 10.42
Jul 2019 89283.13463202113 0.63 10.24
Aug 2019 89352.87450167518 0.08 9.33
Sep 2019 89166.03133762786 -0.21 7.90
Oct 2019 88931.32242995198 -0.26 6.34
Nov 2019 89272.55050203756 0.38 5.57
Dec 2019 90106.78419470025 0.93 5.15
Jan 2020 91085.56727474544 1.09 5.25
Feb 2020 92153.64578155102 1.17 5.53
Mar 2020 93005.0447579499 0.92 5.92
Apr 2020 94219.5562612501 1.31 7.00
May 2020 95094.70841714891 0.93 7.69
Jun 2020 95647.49387838684 0.58 7.80
Jul 2020 95924.00576600553 0.29 7.44
Aug 2020 96734.85874322984 0.85 8.26
Sep 2020 98548.40059472936 1.88 10.52
Oct 2020 101306.60677430854 2.80 13.92
Nov 2020 104376.43644536416 3.03 16.92
Dec 2020 107285.8015274958 2.79 19.07
Jan 2021 109826.97706081664 2.37 20.58
Feb 2021 111983.76390969486 1.96 21.52
Mar 2021 114146.04587302446 1.93 22.73
Apr 2021 115940.66628512078 1.57 23.05
May 2021 117749.30240159539 1.56 23.82
Jun 2021 119589.867744281 1.56 25.03
Jul 2021 121332.61218128743 1.46 26.49
Aug 2021 122597.61669486812 1.04 26.74
Sep 2021 123425.09373341656 0.68 25.24
Oct 2021 124525.64610089036 0.89 22.92
Nov 2021 126306.89885261566 1.43 21.01
Dec 2021 128120.10318061232 1.44 19.42
Jan 2022 130048.99557352555 1.51 18.41
Feb 2022 131741.57383477569 1.30 17.64
Mar 2022 133711.62122075426 1.50 17.14
Apr 2022 135949.56535563522 1.67 17.26
May 2022 138381.5641439705 1.79 17.52
Jun 2022 140755.39312500283 1.72 17.70
Jul 2022 142378.0815046516 1.15 17.35
Aug 2022 143326.7725930417 0.67 16.91
Sep 2022 143761.78650173813 0.30 16.48
Oct 2022 144221.86800158958 0.32 15.82
Nov 2022 144652.9660448129 0.30 14.53
Dec 2022 144180.97176578504 -0.33 12.54
Jan 2023 142810.09604273227 -0.95 9.81
Feb 2023 141327.43641446714 -1.04 7.28
Mar 2023 140754.31510864737 -0.41 5.27
Apr 2023 140602.04588437852 -0.11 3.42
May 2023 140427.37546675475 -0.12 1.48
Jun 2023 139807.6474223107 -0.44 -0.67
Jul 2023 139114.98734703986 -0.49 -2.29
Aug 2023 138212.02101081485 -0.65 -3.57
Sep 2023 137234.67357411855 -0.71 -4.54
Oct 2023 135991.23504257086 -0.91 -5.71
Nov 2023 134949.38350698727 -0.77 -6.71
Dec 2023 134228.4198533602 -0.53 -6.90
Jan 2024 134000.7379851919 -0.17 -6.17
Feb 2024 134066.97174730463 0.05 -5.14
Mar 2024 134506.444064035 0.33 -4.44
Apr 2024 135189.89113000175 0.51 -3.85
May 2024 135780.14785156763 0.44 -3.31
Jun 2024 135840.38577426187 0.04 -2.84
Jul 2024 135113.433616525 -0.53 -2.88
Aug 2024 133707.3664940399 -1.04 -3.26
Sep 2024 132347.38756771348 -1.02 -3.56
Oct 2024 131801.53554708828 -0.41 -3.08
Nov 2024 132320.59687590456 0.39 -1.95
Dec 2024 133151.18755415306 0.63 -0.80
Jan 2025 133946.75185185505 0.60 -0.04
Feb 2025 134158.6080120503 0.16 0.07
Mar 2025 133756.00767764222 -0.30 -0.56
Apr 2025 132659.321738713 -0.82 -1.87
May 2025 131046.44141416531 -1.22 -3.49
Jun 2025 129823.14316660113 -0.93 -4.43
Jul 2025 129081.40297361692 -0.57 -4.46
Aug 2025 128854.02619881627 -0.18 -3.63
Sep 2025 128597.65055385679 -0.20 -2.83
Oct 2025 128535.01489486388 -0.05 -2.48
Nov 2025 128835.94091970904 0.23 -2.63
Dec 2025 129372.75445324885 0.42 -2.84
Jan 2026 129821.2740687525 0.35 -3.08
Feb 2026 129934.5053054465 0.09 -3.15