Memphis Home Prices by ZIP Code: Top Values (2026 Guide)
By Sharon Ben-Moshe · August 28, 2026
This data-led guide compares four covered Memphis ZIP codes by May 2026 stored home-value figures. It includes rent context where available, documented methodology, source links, and clear limits for housing research.
Among the four covered Memphis ZIP codes in this guide, ZIP 38120 has the highest stored May 2026 home-value figure at $431,363. NeighborScore’s housing series uses Zillow research data as a ZIP-level context indicator; it is not an appraisal, live listing feed, or transaction guarantee.
- ZIP 38120 has the highest May 2026 stored home-value figure in this four-ZIP Memphis guide.
- The four stored home-value figures span $293,665 to $431,363.
- Where the series contains a rent figure, the displayed monthly values range from $1,391 to $1,700.
- Home-value context does not change NeighborScore’s safety-and-schools composite.
Which Memphis ZIP codes have the highest stored home-value figures?
This list orders the four displayed ZIPs by their May 2026 stored home-value figure. It compares like-for-like ZIP-level indicators; it does not price an individual home or claim to rank every ZIP in Memphis.
- ZIP 38120 — $431,363 stored home-value figure; $1,391 monthly rent figure; overall score 43; safety/crime 25; schools 63.
- ZIP 38103 — $323,717 stored home-value figure; $1,557 monthly rent figure; overall score 37; safety/crime 25; schools 50.
- ZIP 38119 — $297,309 stored home-value figure; $1,651 monthly rent figure; overall score 36; safety/crime 25; schools 48.
- ZIP 38018 — $293,665 stored home-value figure; $1,700 monthly rent figure; overall score 35; safety/crime 25; schools 47.
The spread across this small set shows why a citywide housing headline is not enough. The ZIP-level indicator is a comparison layer, but it cannot describe the condition, legal status, or final negotiated price of an individual property.
What the May 2026 Memphis housing data can and cannot show
NeighborScore’s stored home-value and rent figures draw on Zillow Research data, with market context documented through the Redfin Data Center. These indicators support a consistent ZIP comparison, but they are not a substitute for a current listing, appraisal, inspection, financing review, or professional advice.
The date matters. May 2026 is a historical stored month, not a live market feed. Compare the same metric and date across ZIPs, then check current local conditions before using the result in a housing decision.
Read the data sources and scoring methodology for definitions and data-refresh notes. Housing figures are separate from the composite so expensive ZIPs do not receive a higher neighborhood score merely because of their market.
How home-value context fits with Memphis ZIP scores
A higher stored home-value figure is not a higher NeighborScore by definition. The overall score uses only safety/crime and school pillars; home values and rents remain affordability context.
For another research angle, see NeighborScore’s national best-value ZIP guide. Then return to the ZIP profiles above to compare documented source notes and component scores for the same areas.
Method note: this guide sorts the current stored May 2026 home-value figures for the four displayed ZIPs. A specific purchase or rental decision still requires current listings, property details, and local due diligence.
Bottom line: Memphis housing research needs ZIP-level context
ZIP 38120 leads this four-ZIP Memphis list on the stored May 2026 home-value figure at $431,363. Use the comparison to narrow research, not to make a property-level decision; verify current market information and separate NeighborScore components before acting.
Frequently Asked Questions
What does the Memphis ZIP home-value figure represent?
The figure is NeighborScore’s stored ZIP-level home-value indicator for May 2026, based on Zillow research data in the platform’s housing series. It is a research comparison point, not an appraisal, a live listing price, a sale-price guarantee, or investment advice.
Which ZIP has the highest stored home-value figure in this Memphis guide?
ZIP 38120 has the highest stored May 2026 home-value figure among the four Memphis ZIP codes shown, at $431,363. The guide is limited to this selected covered set and is not a complete ranking of every ZIP in Memphis.
Do higher Memphis home values produce a higher NeighborScore?
No. A ZIP’s home-value figure is shown as separate affordability context. NeighborScore’s composite uses safety/crime and school pillars only, so a higher stored home-value figure does not increase the overall neighborhood score.
How should readers use Memphis ZIP-level housing data?
Compare the same dated metric across ZIPs, then check current listings, property condition, financing, taxes, and local market information before making a housing decision. A ZIP-level indicator cannot determine the value or suitability of a specific property.