38016 — Shelby County, Tennessee Market Snapshot
Housing market data for zip code 38016 in Shelby County, Tennessee. Updated monthly with median prices, days on market, and more.
Limited Sales Data
Only 4 homes sold in this ZIP code during the selected period. Statistics may not be representative. See the Shelby County county page for broader data.
Market Sales Data
4 sales in 2026 (year to date)
Median Sale Price
$188,750
Days to Sell
63
Homes Sold
4
Inventory
4
Conforming Loan Available
Most homebuyers in 38016 can comfortably use conventional financing. The median home price of $188,750 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
With homes sitting for 63 days on average, 38016 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Conforming Loan Feasibility
Most homebuyers in 38016 can comfortably use conventional financing. The median home price of $188,750 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 38016 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 38016
To purchase the median home at $188,750 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,596.
Monthly Payment
$1,596
Income Required
$68,406
Principal & Interest
$1,163/mo
Down Payment (5%)
$9,438
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 38016.
Estimated Monthly Payment
$1,318
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