Home Values

38126 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$40,900

  • -20.1% 1-year change
  • -0.2% 1-year forecast

The median home value in 38126 is $40,900. 38126 home values have declined -20.1% over the past year and Zillow predicts they will fall -0.2% within the next year. The median price of homes currently listed in 38126 is $30,000. The median rent price in 38126 is $345, which is lower than the Memphis median of $825.

Foreclosures will be a factor impacting home values in the next several years. In 38126 11.7 homes are foreclosed (per 10,000). This is greater than the Memphis value of 9.4 and also greater than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 38126 is 20.0%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 38126 homeowners underwater on their mortgage is 18.7%, which is lower than Memphis at 30.4%.

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Relative ZHVI
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38126 Market Overview

Data through Dec 31, 2014
  • $40,900 ZHVI
  • -0.2% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Dec 31, 2015)
  • $30,000 Median listing price
  • No data Median sale price
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38126 Market Health

Data through Dec 31, 2014
  • 0.4/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 18.7% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 20.0% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

11.7 homes 38126
9.4 homes Memphis
4 homes United States
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Nearby Zip Codes

Name Median ZHVI
38103 $212,800
38104 $147,800
38107 $47,300
Name Median ZHVI
38105 $42,800
38106 $33,700
 

Listings & Sales

Data through Dec 31, 2014
  • $13 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 18.8% Listings with price cut
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38126 Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $653 38126
    $863 Memphis
    $1,345 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 0.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $345 Rent list price (Nov 30, 2014)
  • No data Rent list price / sq ft
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