Zip lookup · MS

38654
Olive Branch, Mississippi.

Olive Branch, DeSoto County, MS · Memphis, TN-MS-AR metro · population 57,898

What it costs per month · 38654 $1,753/mo

to buy the typical home at today's mortgage rate — +$863 (+97%) since Jan 2020.

What the home itself did
1 year
Up $3,327 +1%
$330,621$333,948 since Sep 2025
5 years
Up $41,667 +14%
$292,281$333,948 since Sep 2021

Monthly payment to buy the typical home

Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.

$500 $1,000 $1,500 $2,000 2002 2006 2010 2014 2018 2022 2026 38654 $1,753 United States $1,922
$500 $1,000 $1,500 $2,000 2002 2010 2018 2026
  • 38654$1,753
  • United States$1,922

At the last five years' pace, a typical home here doubles in price every 26 years.

Typical home values in zip 38654 rose 1.0% over the past year — in step with the nation.

Asking rents in zip 38654 fell 0.1% over the past year — slower than the nation's +2.7%.

Owning the typical home in zip 38654 runs $446/mo more than renting one. The gap peaked at $694 in Oct 2023.

That is $2,278 a month against $1,832 rent: a $1,753 mortgage payment, plus $168 property tax and $358 insurance & upkeep.

Owning vs renting — zip 38654

The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.

$1,000 $1,500 $2,000 2018 2020 2022 2024 2026 Owning all in $2,278 Renting $1,832 Mortgage only $1,753
$1,000 $1,500 $2,000 2018 2022 2026
  • Owning all in$2,278
  • Renting$1,832
  • Mortgage only$1,753

Property tax · $168/mo 0.60% of value a year — the ACS 2020-2024 median bill over the median home value for 2 counties

Insurance & upkeep · $358/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.

Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.

This zip spans 2 counties: DeSoto County, MS 97% · Marshall County, MS 3%

Zillow also publishes an index for the city itself: Olive Branch, MS — measured over the city limits, which is a different area from this zip.

Asking rent $1,832 as of Sep 2026
-0.1%year on year
Typical home value $333,948 as of Sep 2026
+1.0%year on year

Asking rent — 38654

Against the Memphis, TN-MS-AR metro and the national benchmark.

$1,000 $1,250 $1,500 $1,750 2018 2020 2022 2024 2026 38654 $1,832 Memphis $1,393 United States $1,932
$1,000 $1,250 $1,500 $1,750 2018 2022 2026
  • 38654$1,832
  • Memphis$1,393
  • United States$1,932

Typical home value — 38654

Mid-tier homes, smoothed and seasonally adjusted.

$150,000 $200,000 $250,000 $300,000 $350,000 2018 2020 2022 2024 2026 38654 $333,948 Memphis $242,102 United States $366,157
$150,000 $200,000 $250,000 $300,000 $350,000 2018 2022 2026
  • 38654$333,948
  • Memphis$242,102
  • United States$366,157

Within 20 miles

Showing 30 of 37 zips in range — sorting picks from all 37.

10 mi 20 mi 50 mi
Miles Zip City Population Rent Home value
5.8 38141 Memphis 23,952 $1,570 $188,113
6.5 38125 Memphis 43,071 $1,516 $275,797
7.1 38672 Southaven 16,436 $2,304 $334,790
8.5 38115 Memphis 38,491 $1,029 $160,944
9.2 38118 Memphis 39,107 $1,178 $120,452
9.9 38671 Southaven 37,319 $1,505 $233,503
10.0 38119 Memphis 23,464 $1,472 $288,176
10.3 38611 Byhalia 16,537 — $274,657
10.4 38138 Germantown 25,167 $2,259 $429,441
10.6 38651 Nesbit 8,731 — $359,418
11.0 38139 Germantown 16,466 — $585,243
12.4 38116 Memphis 40,061 $928 $151,252
12.8 38637 Horn Lake 26,647 $1,485 $201,738
13.0 38120 Memphis 13,309 $1,563 $422,325
13.2 38117 Memphis 25,776 $1,466 $264,140
13.2 38017 Collierville 56,826 $1,886 $504,970
13.8 38111 Memphis 41,934 $1,280 $130,811
14.0 38632 Hernando 31,374 $2,167 $347,508
14.3 38018 Cordova 38,527 $1,658 $287,250
14.4 38114 Memphis 20,298 $929 $70,758
15.3 38661 Red Banks 2,126 — $230,674
16.2 38122 Memphis 26,021 $1,119 $120,792
16.6 38106 Memphis 20,962 $908 $54,692
16.7 38134 Memphis 43,947 $1,206 $222,769
17.0 38104 Memphis 22,634 $1,265 $248,684
17.0 38112 Memphis 16,809 $1,233 $120,382
17.2 38016 Cordova 44,136 $1,495 $290,354
17.4 38618 Coldwater 9,866 — $244,490
18.1 38126 Memphis 5,946 — $72,413
18.2 38680 Walls 6,839 $1,667 $260,300

Coordinates and population from SimpleMaps US Zips (Basic). Rent and home values from Zillow Research.