38108 — Memphis, TN Home Values
Typical home value $73,235 as of June 2026 · 69th of 71 in Memphis, TN-MS-AR
Blue: typical home value (Zillow ZHVI) in ZIP code 38108, June 2021 to June 2026. This page shows observed data only; no forecast.
How 38108 compares in the Memphis, TN-MS-AR area
ZIP code 38108 (Memphis, TN) has a typical home value of $73,235 as of June 2026, ranking 69th of 71 ZIP codes tracked in the Memphis, TN-MS-AR area, more expensive than about 4% of ZIP codes in the metro. Prices here have moved -6.9% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +12.3%, from $65,194 in June 2021 to $73,235 in June 2026. Against observed rent, the typical home here sells for 6.3× the annual rent ($965/mo), a common way to gauge whether buying looks cheap relative to renting in this ZIP code.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Memphis, TN-MS-AR forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Memphis.
Population and demographics
ZIP code 38108 has a population of 18,501, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 60.2% Black or African American, 21% Hispanic or Latino, 17.4% White, 1.2% two or more races, 0.2% American Indian or Alaska Native, and 0.1% another race.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Douglass Elementary/Middle | 1650 Ash St, Memphis, TN | 0.6 mi |
| Promise Academy | 1346 Bryan ST, Memphis, TN | 0.6 mi |
| Douglass High | 3200 Mount Olive Rd, Memphis, TN | 0.7 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 38108?
$73,235 as of June 2026, the latest month Zillow has published observed data for.
Is 38108 an expensive ZIP code in the Memphis, TN-MS-AR area?
38108 ranks 69th of 71 ZIP codes in the Memphis, TN-MS-AR area by typical home value, more expensive than about 4% of ZIP codes in the metro.
How much have home values in 38108 changed over the past year?
-6.9% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 38108?
The typical home price is 6.3× the observed annual rent in this ZIP code ($965/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 38108?
18,501, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 38108?
Douglass Elementary/Middle (0.6 mi), Promise Academy (0.6 mi), Douglass High (0.7 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 38108?
No. Every number on this page is observed Zillow data as of June 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Memphis, TN-MS-AR forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.