38109 — Memphis, TN Home Values
Typical home value $93,706 as of June 2026 · 65th of 71 in Memphis, TN-MS-AR
Blue: typical home value (Zillow ZHVI) in ZIP code 38109, June 2021 to June 2026. This page shows observed data only; no forecast.
How 38109 compares in the Memphis, TN-MS-AR area
ZIP code 38109 (Memphis, TN) has a typical home value of $93,706 as of June 2026, ranking 65th of 71 ZIP codes tracked in the Memphis, TN-MS-AR area, more expensive than about 10% of ZIP codes in the metro. Prices here have moved -8.1% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +4.7%, from $89,502 in June 2021 to $93,706 in June 2026. Against observed rent, the typical home here sells for 6.7× the annual rent ($1,172/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 38109 has a population of 43,764, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 95% Black or African American, 2.4% White, 1.6% two or more races, 1% Hispanic or Latino, and 0.1% American Indian or Alaska Native.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Double Tree Elementary | 4560 Double Tree, Memphis, TN | 3.1 mi |
| Chickasaw Middle | 4060 Westmont Rd, Memphis, TN | 3.5 mi |
| Westwood High | 4480 Westmont Rd, Memphis, TN | 3.6 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 38109?
$93,706 as of June 2026, the latest month Zillow has published observed data for.
Is 38109 an expensive ZIP code in the Memphis, TN-MS-AR area?
38109 ranks 65th of 71 ZIP codes in the Memphis, TN-MS-AR area by typical home value, more expensive than about 10% of ZIP codes in the metro.
How much have home values in 38109 changed over the past year?
-8.1% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 38109?
The typical home price is 6.7× the observed annual rent in this ZIP code ($1,172/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 38109?
43,764, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 38109?
Double Tree Elementary (3.1 mi), Chickasaw Middle (3.5 mi), Westwood High (3.6 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 38109?
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.