38139 — Germantown, TN Home Values
Typical home value $601,649 as of June 2026 · 2nd of 71 in Memphis, TN-MS-AR
Blue: typical home value (Zillow ZHVI) in ZIP code 38139, June 2021 to June 2026. This page shows observed data only; no forecast.
How 38139 compares in the Memphis, TN-MS-AR area
ZIP code 38139 (Germantown, TN) has a typical home value of $601,649 as of June 2026, ranking 2nd of 71 ZIP codes tracked in the Memphis, TN-MS-AR area, more expensive than about 99% of ZIP codes in the metro. Prices here have moved -1.1% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +17.0%, from $514,434 in June 2021 to $601,649 in June 2026. Against observed rent, the typical home here sells for 15.4× the annual rent ($3,262/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 38139 has a population of 16,298, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 86.4% White, 7.2% Asian, 2.6% two or more races, 2.1% Black or African American, and 1.6% Hispanic or Latino.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Dogwood Elementary School | 8945 Dogwood RD, Germantown, TN | 0.6 mi |
| Houston Middle School | 9400 Wolf River BLVD, Germantown, TN | 1 mi |
| Houston High School | 9755 Wolf River BLVD, Germantown, TN | 1.2 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 38139?
$601,649 as of June 2026, the latest month Zillow has published observed data for.
Is 38139 an expensive ZIP code in the Memphis, TN-MS-AR area?
38139 ranks 2nd of 71 ZIP codes in the Memphis, TN-MS-AR area by typical home value, more expensive than about 99% of ZIP codes in the metro.
How much have home values in 38139 changed over the past year?
-1.1% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 38139?
The typical home price is 15.4× the observed annual rent in this ZIP code ($3,262/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 38139?
16,298, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 38139?
Dogwood Elementary School (0.6 mi), Houston Middle School (1 mi), Houston High School (1.2 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 38139?
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.