Home Values

38053 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

$108,200

  • 4.7% 1-year change
  • 3.4% 1-year forecast

The median home value in 38053 is $108,200. 38053 home values have gone up 4.7% over the past year and Zillow predicts they will rise 3.4% within the next year. The median list price per square foot in 38053 is $62, which is higher than the Millington average of $61. The median price of homes currently listed in 38053 is $85,000 while the median price of homes that sold is $107,000. The median rent price in 38053 is $850, which is the same as the Millington median of $850.

Foreclosures will be a factor impacting home values in the next several years. In 38053 5.7 homes are foreclosed (per 10,000). This is greater than the Millington value of 5.6 and also greater than the national value of 3.9

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 38053 homeowners underwater on their mortgage is 25.3%, which is lower than Millington at 25.7%.

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Relative ZHVI
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38053 Market Overview

Data through Feb 28, 2015
  • $108,200 ZHVI
  • 3.4% 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
    (Feb 29, 2016)
  • $85,000 Median listing price
  • $107,000 Median sale price
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38053 Market Health

Data through Feb 28, 2015
  • 2.9/10 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
  • 25.3% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • No data Delinquent on mortgage (6.3% US Avg)

Homes foreclosed (per 10,000)

5.7 homes 38053
5.6 homes Millington
3.9 homes United States
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Nearby Zip Codes

Name Median ZHVI
38135 $148,200
38058 $123,400
38023 $120,400
Name Median ZHVI
38134 $100,900
38128 $62,800
38107 $53,300
Name Median ZHVI
38122 $51,600
38127 $43,900
38108 $36,900

Listings & Sales

Data through Feb 28, 2015
  • $62 Median list price / sq ft
  • $62 Median sale price / sq ft
  • 14.8% Listings with price cut
29.9%
Sold below listing
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38053 Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,030 38053
    $1,012 Millington
    $1,355 United States

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

  • 1.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $850 Rent list price
  • $0.70 Rent list price / sq ft
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