Home values, rents and more in ZIP code 38106 (Memphis, TN)
September 2026 figures from Zillow and the U.S. Census Bureau · updated 2026-11-07
Open 38106 in ProMap- Under $87k
- $87k–$120k
- $120k–$150k
- $150k–$250k
- $250k+
- No data
How 38106 compares
The typical home in ZIP code 38106 (Memphis, TN) is worth about $54,692, according to the Zillow Home Value Index for September 2026. Home values in 38106 are 77% below the typical value in the Memphis metro area ($242,000) and 85% below the U.S. typical value ($366,000).
Over the past year, home values in 38106 fell 6.4%, compared with +0.1% in the Memphis metro area and +1.2% nationally.
Typical rent is $908 a month (Zillow Observed Rent Index), 35% below the Memphis metro area ($1,393) and 53% below the U.S. ($1,932). Rents rose 3.2% over the past year.
The median household income is $30,232, against $66,401 in the Memphis metro area and $80,734 in the U.S. (Census Bureau, American Community Survey 2020–24).
About 20,962 people live in 38106 (American Community Survey 2020–24).
38106 has the lowest typical home value of the 71 ZIP codes in the Memphis metro area and the 2nd-lowest of 587 in Tennessee with Zillow figures.
Part of: Memphis, TN · Shelby County, TN · Memphis metro area · Tennessee
More for 38106 in ProMap Plus
These measures are on the map for subscribers. Open ProMap to see them for 38106 and every other place.
- 5- and 10-year price changes
- Days on market and months of supply
- Price cuts and sale-to-list ratio
- Price-to-income and monthly cost to buy
- Zillow 12-month price forecast
- Crime rates
- School test scores
- Homeowners insurance premiums
- Commute time to downtown
- Flood, wildfire and natural hazard risk
- Property-tax rate
- 2024 presidential vote
- Age, education and household make-up
- Amenities and transit nearby
Nearby ZIP codes
Sources
Home values: Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted, September 2026. Rents: Zillow Observed Rent Index (ZORI), seasonally adjusted. Population: Census population estimates (July 2025) for states, metros and counties; ACS 2020–24 for cities and ZIP codes. Income: U.S. Census Bureau, ACS 2020–24 5-year estimates. Boundaries: U.S. Census Bureau cartographic boundary files. Compiled by Home Economics.
"Typical" is Zillow's middle-tier value (homes between the 35th and 65th percentiles), not a median sale price. Changes are over the 12 months to September 2026.