38028 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

$327,600

  • 5.6% 1-year change
  • 4.4% 1-year forecast

The median home value in 38028 is $327,600. 38028 home values have gone up 5.6% over the past year and Zillow predicts they will rise 4.4% within the next year.

Foreclosures will be a factor impacting home values in the next several years. In 38028 3.4 homes are foreclosed (per 10,000). This is lower than the Memphis Metro value of 8.4 and also lower than the national value of 3.6

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 38028 homeowners underwater on their mortgage is 10.8%, which is lower than Memphis Metro at 23.0%.

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Relative ZHVI
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38028 Market Overview

Data through Jul 31, 2015
  • $327,600 ZHVI
  • 4.4% 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
    (Jul 31, 2016)
  • No data Median listing price
  • $298,000 Median sale price (Jun 30, 2015)
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38028 Market Health

Data through Jul 31, 2015
  • 8.6/10 Very 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
  • 10.8% Homes with negative equity (15.4% US Avg) (Sep 30, 2014)
  • No data Delinquent on mortgage (6.0% US Avg)

Homes foreclosed (per 10,000)

3 38028
8 Memphis Metro
4 United States
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Nearby Zip Codes

Name Median ZHVI
38139 $350,400
38017 $260,300
38138 $241,100
Name Median ZHVI
38002 $204,300
38016 $145,100
38018 $142,100
Name Median ZHVI
38060 $137,100
38066 $130,800
38133 $116,500

Listings & Sales

  • No data
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38028 Rentals

Data through Jul 31, 2015
  • Zillow Rent Index

  • $1,728 38028
    $1,077 Memphis Metro
    $1,376 United States

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

  • 2.6 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Mar 31, 2015)
  • No data Rent list price
  • No data Rent list price / sq ft
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