TN/Shelby County/MEMPHIS
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MEMPHIS, TN
CitySAFMR
Shelby County
Found 53 ZIPs
Zillow
BRFMR
Eff. Rent
0 BR$840 – $1,590▼$640 – $1,510
1 BR$940 – $1,730▼$680 – $1,650
2 BR$1,060 – $1,910▼$800 – $1,670
3 BR$1,390 – $2,520▼$1,120 – $1,940
4 BR$1,620 – $2,940▼$1,220 – $2,460
5 BR$2,266▼—
6 BR$2,605▼—
7 BR$2,996▼—
8 BR$3,446▼—

Market Alignment

How HUD fair market rents align with the state of the rental market.

Studio
Studio· 1 ZIP
0.73ratio
FMR$1,290
Market$1,770
vs market-$480

FMR falls below market. Section 8 income will likely be below what private tenants pay in this area.

Studio· 4 ZIPs
0.78–0.80ratio range
Median FMR$1,140
Median Market$1,445
vs market-$305

FMR falls below market. Section 8 income will likely be below what private tenants pay in this area.

Studio· 1 ZIP
0.84ratio
FMR$1,320
Market$1,580
vs market-$260

FMR falls below market. Section 8 income will likely be below what private tenants pay in this area.

Studio· 2 ZIPs
0.87–0.88ratio range
Median FMR$1,360
Median Market$1,560
vs market-$200

FMR falls below market. Section 8 income will likely be below what private tenants pay in this area.

Studio· 2 ZIPs
0.92ratio range
Median FMR$1,080
Median Market$1,175
vs market-$95

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

Studio· 2 ZIPs
0.97–0.98ratio range
Median FMR$1,010
Median Market$1,035
vs market-$25

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

Studio· 2 ZIPs
0.98–0.99ratio range
Median FMR$1,025
Median Market$1,040
vs market-$15

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

Studio· 4 ZIPs
1.08–1.10ratio range
Median FMR$1,010
Median Market$920
vs market+$90

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

Studio· 2 ZIPs
1.13–1.14ratio range
Median FMR$965
Median Market$850
vs market+$115

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

Studio· 2 ZIPs
1.19–1.20ratio range
Median FMR$990
Median Market$830
vs market+$160

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

Studio· 19 ZIPs
1.22–1.23ratio range
Median FMR$1,070
Median Market$870
vs market+$200

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

19
Studio· 1 ZIP
1.29ratio
FMR$1,030
Market$800
vs market+$230

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

Studio· 2 ZIPs
1.31–1.33ratio range
Median FMR$920
Median Market$695
vs market+$225

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

Studio· 4 ZIPs
1.37–1.53ratio range
Median FMR$1,145
Median Market$820
vs market+$325

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

0.73–1.53
1 BR
1 BR· 2 ZIPs
0.91–0.94ratio range
Median FMR$1,525
Median Market$1,650
vs market-$125

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

1 BR· 1 ZIP
0.96ratio
FMR$1,330
Market$1,380
vs market-$50

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

1 BR· 1 ZIP
1.01ratio
FMR$1,400
Market$1,380
vs market+$20

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

1 BR· 3 ZIPs
1.04–1.05ratio range
Median FMR$1,150
Median Market$1,100
vs market+$50

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

1 BR· 3 ZIPs
1.07–1.09ratio range
Median FMR$980
Median Market$900
vs market+$80

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

1 BR· 2 ZIPs
1.13ratio range
Median FMR$1,095
Median Market$970
vs market+$125

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

1 BR· 6 ZIPs
1.15–1.18ratio range
Median FMR$1,120
Median Market$960
vs market+$160

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

1 BR· 4 ZIPs
1.21–1.24ratio range
Median FMR$1,135
Median Market$930
vs market+$205

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

1 BR· 2 ZIPs
1.25–1.28ratio range
Median FMR$1,060
Median Market$835
vs market+$225

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

1 BR· 18 ZIPs
1.33ratio range
Median FMR$1,160
Median Market$870
vs market+$290

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

18
1 BR· 6 ZIPs
1.35–1.60ratio range
Median FMR$1,120
Median Market$810
vs market+$310

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

0.91–1.60
2 BR
2 BR· 1 ZIP
0.90ratio
FMR$1,060
Market$1,180
vs market-$120

FMR falls below market. Section 8 income will likely be below what private tenants pay in this area.

2 BR· 2 ZIPs
0.91–0.92ratio range
Median FMR$1,180
Median Market$1,290
vs market-$110

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

2 BR· 4 ZIPs
1.00–1.02ratio range
Median FMR$1,255
Median Market$1,235
vs market+$20

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

2 BR· 1 ZIP
1.06ratio
FMR$1,060
Market$1,000
vs market+$60

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

2 BR· 5 ZIPs
1.07–1.10ratio range
Median FMR$1,280
Median Market$1,200
vs market+$80

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

2 BR· 3 ZIPs
1.12–1.14ratio range
Median FMR$1,600
Median Market$1,410
vs market+$190

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

2 BR· 7 ZIPs
1.16–1.20ratio range
Median FMR$1,250
Median Market$1,060
vs market+$190

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

2 BR· 1 ZIP
1.22ratio
FMR$1,450
Market$1,190
vs market+$260

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

2 BR· 3 ZIPs
1.25–1.29ratio range
Median FMR$1,200
Median Market$950
vs market+$250

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

2 BR· 2 ZIPs
1.32–1.34ratio range
Median FMR$1,265
Median Market$950
vs market+$315

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

2 BR· 19 ZIPs
1.39ratio range
Median FMR$1,280
Median Market$920
vs market+$360

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

19
0.90–1.39
3 BR
3 BR· 3 ZIPs
0.87–0.89ratio range
Median FMR$1,430
Median Market$1,650
vs market-$220

FMR falls below market. Section 8 income will likely be below what private tenants pay in this area.

3 BR· 1 ZIP
0.92ratio
FMR$1,940
Market$2,110
vs market-$170

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

3 BR· 1 ZIP
0.95ratio
FMR$1,430
Market$1,500
vs market-$70

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

3 BR· 1 ZIP
0.99ratio
FMR$1,640
Market$1,660
vs market-$20

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

3 BR· 1 ZIP
1.03ratio
FMR$1,680
Market$1,630
vs market+$50

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

3 BR· 4 ZIPs
1.10–1.14ratio range
Median FMR$1,515
Median Market$1,350
vs market+$165

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

3 BR· 2 ZIPs
1.17–1.20ratio range
Median FMR$1,815
Median Market$1,535
vs market+$280

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

3 BR· 5 ZIPs
1.20–1.25ratio range
Median FMR$1,650
Median Market$1,370
vs market+$280

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

3 BR· 6 ZIPs
1.27–1.30ratio range
Median FMR$1,665
Median Market$1,300
vs market+$365

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

3 BR· 22 ZIPs
1.32–1.35ratio range
Median FMR$1,690
Median Market$1,260
vs market+$430

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

22
3 BR· 2 ZIPs
1.36–1.39ratio range
Median FMR$1,545
Median Market$1,125
vs market+$420

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

0.87–1.39
4 BR
4 BR· 1 ZIP
0.88ratio
FMR$1,910
Market$2,170
vs market-$260

FMR falls below market. Section 8 income will likely be below what private tenants pay in this area.

4 BR· 1 ZIP
0.94ratio
FMR$1,670
Market$1,780
vs market-$110

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

4 BR· 3 ZIPs
0.94–0.97ratio range
Median FMR$1,970
Median Market$2,090
vs market-$120

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

4 BR· 4 ZIPs
0.99–1.01ratio range
Median FMR$1,795
Median Market$1,780
vs market+$15

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

4 BR· 1 ZIP
1.05ratio
FMR$1,620
Market$1,540
vs market+$80

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

4 BR· 4 ZIPs
1.11–1.14ratio range
Median FMR$2,245
Median Market$1,975
vs market+$270

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

4 BR· 3 ZIPs
1.17–1.19ratio range
Median FMR$1,890
Median Market$1,620
vs market+$270

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

4 BR· 3 ZIPs
1.22–1.24ratio range
Median FMR$1,970
Median Market$1,600
vs market+$370

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

4 BR· 2 ZIPs
1.29–1.30ratio range
Median FMR$1,905
Median Market$1,475
vs market+$430

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

4 BR· 5 ZIPs
1.30–1.33ratio range
Median FMR$2,080
Median Market$1,570
vs market+$510

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

4 BR· 21 ZIPs
1.39–1.64ratio range
Median FMR$1,970
Median Market$1,420
vs market+$550

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

21
0.88–1.64
0.700.800.901.001.101.201.30aligned range

Voucher alignment varies significantly by bedroom size in this area.

Bedroom curve

Historical
See FMR progression in recent years

Data indexed

FMR
FY2026
Market rent
last ~365 days

ZIP Codes

Ranked by Investment Score (vs area median)

About this result(HUD FMR/SAFMR details)

This page shows HUD Fair Market Rent data for MEMPHIS, TN (TN) for FY 2026. Fair Market Rent (FMR) is a HUD benchmark used to determine payment standards for programs like the Housing Choice Voucher (Section 8) program.

Values are shown for 0–4 bedroom units. In some metro areas HUD publishes Small Area FMR (SAFMR) at the ZIP-code level; otherwise the county/metropolitan-area FMR applies. This result is labeled SAFMR based on HUD's designation for the area and the available data.

Tip: use these numbers as a starting point and confirm local program rules (payment standards may differ from HUD's published FMR). If you're comparing neighborhoods, SAFMR ZIP ranges can highlight variation within the same county.

What is FMR?What is SAFMR?Data sourcesIncomplete geosView county page
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