38127 — Shelby County, Tennessee Market Snapshot
Housing market data for zip code 38127 in Shelby County, Tennessee. Updated monthly with median prices, days on market, and more.
Market Sales Data
79 sales in 2026 (year to date)
Median Sale Price
$88,750
Days to Sell
56
Homes Sold
79
Inventory
254
Sale-to-List
91.1%
New Listings
209
Price/SqFt
$71
Pending Sales
113
Conforming Loan Available
Most homebuyers in 38127 can comfortably use conventional financing. The median home price of $88,750 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
38127's market is balanced with homes taking an average of 56 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
The average home in 38127 sells for 8.9% below asking price (91.1% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 38127 can comfortably use conventional financing. The median home price of $88,750 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 38127 are set at the county level.
2026 Loan Limits — Shelby County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 38127
To purchase the median home at $88,750 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $830.
Monthly Payment
$830
Income Required
$35,570
Principal & Interest
$547/mo
Down Payment (5%)
$4,438
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 38127.
Estimated Monthly Payment
$699
Connect with a LoanGraphs Loan Officer
Get expert guidance for zip code 38127. Tell us what you're looking for.