How much is a home worth in ZIP code 38017?

The typical home in 38017 is worth $514,243, based on the Zillow Home Value Index.

Are home values rising in 38017?

Home values in 38017 are down 1.9% over the past year, and up 4.2% a year over five years.

What is the typical rent in 38017?

A typical home in 38017 rents for about $1,995 a month, a gross rental yield of 4.7%.

What is the property tax rate in 38017?

The effective property tax rate in 38017 is 0.9% — roughly $4,765 a year on a typical home.

ZIP code 38017 has a population of 56,826 and a median household income of $138,677.

HousingHandbookReference data

…

U.S. ZIP Code · TN38017

Shelby County · Memphis, TN-MS-AR

Typical home value

$514,243^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -1.9%
5-year / yr: +4.2%
10-year / yr: +5.3%

Relative price

vs U.S.: +81.0%
vs metro: +117.5%
vs state: +94.3%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 38017 is worth $514,243 — 117.5% above the Memphis, TN-MS-AR median. Over the past year, values have fallen 1.9%. Homes here rent for a typical $1,995 a month — a 4.7% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,995^[2]
Gross yield: 4.7%^[2]
Cap rate: 2.8%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.9%^[3]
Typical annual tax: $4,765^[3]

#Climate risk

FEMA National Risk Index ratings for Shelby County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Not Applicable
Wildfire: Relatively Low
Drought: Relatively Low
Heat wave: Relatively High
Hurricane: Relatively Low
Tornado: Very High
Earthquake: Relatively High
Winter weather: Relatively High

#Who lives here

Population: 56,826^[3]
Median household income: $138,677^[3]

#Migration

Household moves in and out of Shelby County over a year, from IRS tax-return data.

Net migration: -4,630^[5]
Moved in: 14,700
Moved out: 19,330

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 10
Elementary: 6
Middle: 2
High: 1

Collierville High School
High · Grades 9–12 · Collierville
2,998 students
West Collierville Middle School
Middle · Grades 6–8 · Collierville
1,360 students
Bailey Station Elementary School
Elementary · Grades PK–5 · Collierville
842 students
Collierville Middle School
Middle · Grades 6–8 · Collierville
785 students
Collierville Elementary School
Elementary · Grades PK–5 · Collierville
779 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield4.7%

Net yield (after ~40% expenses)2.8%

Annual rent$23,944

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,600

Loan principal$411,395

Down payment$102,849

Total interest paid$524,711

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.72

Monthly cost to own$3,427

Monthly rent$1,995

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 51st percentile^[1]
Rental yield: 3rd percentile^[2]
Property tax: 73rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 38017?: The typical home in 38017 is worth $514,243, based on the Zillow Home Value Index.
Are home values rising in 38017?: Home values in 38017 are down 1.9% over the past year, and up 4.2% a year over five years.
What is the typical rent in 38017?: A typical home in 38017 rents for about $1,995 a month, a gross rental yield of 4.7%.
What is the property tax rate in 38017?: The effective property tax rate in 38017 is 0.9% — roughly $4,765 a year on a typical home.
Who lives in 38017?: ZIP code 38017 has a population of 56,826 and a median household income of $138,677.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

38066 vs 38017 →
Piperton, TN
Typical home
$525,302
Gross yield
—
38138 vs 38017 →
Germantown, TN
Typical home
$439,034
Gross yield
6.6%
38139
Germantown, TN
Typical home
$594,069
Gross yield
7.1%
38120
Memphis, TN
Typical home
$427,662
Gross yield
4.3%
38028
Arlington, TN
Typical home
$606,098
Gross yield
—
38002
Lakeland, TN
Typical home
$409,606
Gross yield
6.3%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

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Pit ZIP 38017 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · TN38017

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