38242 — Weakley County, Tennessee Market Snapshot
Housing market data for zip code 38242 in Weakley County, Tennessee. Updated monthly with median prices, days on market, and more.
Market Sales Data
51 sales in 2026 (year to date)
Median Sale Price
$242,000
Days to Sell
105
Homes Sold
51
Inventory
71
Sale-to-List
94.8%
New Listings
72
Price/SqFt
$154
Pending Sales
74
Conforming Loan Available
Most homebuyers in 38242 can comfortably use conventional financing. The median home price of $242,000 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 105 days on average, 38242 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
The average home in 38242 sells for 5.2% below asking price (94.8% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 38242 can comfortably use conventional financing. The median home price of $242,000 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 38242 are set at the county level.
2026 Loan Limits — Weakley 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 38242
To purchase the median home at $242,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,004.
Monthly Payment
$2,004
Income Required
$85,891
Principal & Interest
$1,491/mo
Down Payment (5%)
$12,100
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 38242.
Estimated Monthly Payment
$1,648
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