Metro FMR area · AR, MS, TN · HUD FY 2027
Memphis, TN-MS-AR Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in the Memphis, TN-MS-AR area is $1,301 a month, 6% below the Tennessee average and 26% below the U.S. average of $1,761. ZIP-level Small Area FMRs for its 105 ZIP codes range from $1,000 to $1,950.
- $1,3012-bedroom FMR+$27 (+2.1%) vs FY 2026
- $1,1911-bedroom FMRU.S.: $1,478
- $52,040Income for a 2-bedroomat 30% of income
- 1,262,560Residents5 counties
| Unit | Memphis, TN-MS-AR FY 2027 | FY 2026 | Change | Tennessee avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $1,095 | $1,060 | +$35 (+3.3%) | $1,141 | $1,379 | $43,800 |
| 1 bedroom | $1,191 | $1,154 | +$37 (+3.2%) | $1,196 | $1,478 | $47,640 |
| 2 bedrooms | $1,301 | $1,274 | +$27 (+2.1%) | $1,381 | $1,761 | $52,040 |
| 3 bedrooms | $1,717 | $1,683 | +$34 (+2.0%) | $1,771 | $2,266 | $68,680 |
| 4 bedrooms | $1,981 | $1,959 | +$22 (+1.1%) | $2,054 | $2,607 | $79,240 |
Counties in this FMR area
| County | Residents in area |
|---|---|
| Crittenden County, AR | 47,266 |
| DeSoto County, MS | 191,301 |
| Fayette County, TN | 43,267 |
| Shelby County, TN | 919,173 |
| Tipton County, TN | 61,553 |
Small Area FMRs by ZIP code
Small Area FMRs apply to Housing Choice Vouchers where HUD requires them or the housing authority opts in; otherwise the metro FMR above applies. The median ZIP’s 2-bedroom SAFMR is $1,300.
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 38002 | $1,570 | $1,700 | $1,860 | $2,460 | $2,830 | −$10 (−0.5%) | 43% above |
| 38004 | $1,190 | $1,300 | $1,420 | $1,870 | $2,160 | −$50 (−3.4%) | 9% above |
| 38011 | $930 | $1,020 | $1,110 | $1,470 | $1,690 | −$20 (−1.8%) | 15% below |
| 38015 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% below |
| 38016 | $1,350 | $1,460 | $1,600 | $2,110 | $2,440 | +$30 (+1.9%) | 23% above |
| 38017 | $1,400 | $1,520 | $1,660 | $2,190 | $2,530 | +$10 (+0.6%) | 28% above |
| 38018 | $1,500 | $1,630 | $1,780 | $2,350 | $2,710 | +$50 (+2.9%) | 37% above |
| 38019 | $860 | $930 | $1,020 | $1,350 | $1,550 | −$40 (−3.8%) | 22% below |
| 38023 | $1,050 | $1,140 | $1,250 | $1,650 | $1,900 | −$50 (−3.8%) | 4% below |
| 38027 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38028 | $1,190 | $1,290 | $1,410 | $1,860 | $2,150 | −$20 (−1.4%) | 8% above |
| 38029 | $1,390 | $1,510 | $1,670 | $2,200 | $2,570 | −$180 (−9.7%) | 28% above |
| 38036 | $1,500 | $1,620 | $1,780 | $2,350 | $2,700 | no change | 37% above |
| 38039 | $770 | $850 | $1,000 | $1,340 | $1,460 | −$60 (−5.7%) | 23% below |
| 38042 | $970 | $1,030 | $1,270 | $1,700 | $1,770 | +$90 (+7.6%) | 2% below |
| 38046 | $810 | $870 | $1,000 | $1,320 | $1,460 | −$60 (−5.7%) | 23% below |
| 38048 | $880 | $960 | $1,050 | $1,390 | $1,600 | −$10 (−0.9%) | 19% below |
| 38049 | $960 | $1,040 | $1,140 | $1,500 | $1,740 | +$70 (+6.5%) | 12% below |
| 38053 | $1,050 | $1,140 | $1,250 | $1,650 | $1,900 | −$10 (−0.8%) | 4% below |
| 38054 | $1,050 | $1,140 | $1,250 | $1,650 | $1,900 | −$10 (−0.8%) | 4% below |
| 38055 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38057 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% below |
| 38058 | $1,030 | $1,120 | $1,220 | $1,610 | $1,860 | no change | 6% below |
| 38060 | $1,510 | $1,640 | $1,790 | $2,360 | $2,720 | +$280 (+18.5%) | 38% above |
| 38066 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% below |
| 38068 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% below |
| 38069 | $910 | $940 | $1,170 | $1,570 | $1,780 | +$110 (+10.4%) | 10% below |
| 38075 | $830 | $870 | $1,080 | $1,460 | $1,520 | +$20 (+1.9%) | 17% below |
| 38076 | $950 | $1,030 | $1,130 | $1,490 | $1,720 | +$50 (+4.6%) | 13% below |
| 38083 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38088 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38101 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38103 | $1,470 | $1,600 | $1,750 | $2,310 | $2,660 | −$160 (−8.4%) | 35% above |
| 38104 | $1,220 | $1,330 | $1,450 | $1,910 | $2,210 | −$20 (−1.4%) | 11% above |
| 38105 | $920 | $1,000 | $1,090 | $1,440 | $1,660 | +$30 (+2.8%) | 16% below |
| 38106 | $910 | $990 | $1,080 | $1,430 | $1,640 | −$70 (−6.1%) | 17% below |
| 38107 | $940 | $1,020 | $1,120 | $1,480 | $1,700 | +$40 (+3.7%) | 14% below |
| 38108 | $850 | $920 | $1,010 | $1,330 | $1,540 | −$50 (−4.7%) | 22% below |
| 38109 | $910 | $990 | $1,080 | $1,430 | $1,640 | no change | 17% below |
| 38111 | $1,040 | $1,130 | $1,240 | $1,640 | $1,890 | no change | 5% below |
| 38112 | $880 | $960 | $1,050 | $1,390 | $1,600 | −$30 (−2.8%) | 19% below |
| 38113 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38114 | $900 | $980 | $1,070 | $1,410 | $1,630 | −$20 (−1.8%) | 18% below |
| 38115 | $1,140 | $1,240 | $1,360 | $1,800 | $2,070 | no change | 5% above |
| 38116 | $1,050 | $1,140 | $1,250 | $1,650 | $1,900 | no change | 4% below |
| 38117 | $1,270 | $1,380 | $1,510 | $1,990 | $2,300 | +$40 (+2.7%) | 16% above |
| 38118 | $1,050 | $1,140 | $1,250 | $1,650 | $1,900 | +$20 (+1.6%) | 4% below |
| 38119 | $1,230 | $1,340 | $1,460 | $1,930 | $2,220 | +$10 (+0.7%) | 12% above |
| 38120 | $1,410 | $1,540 | $1,680 | $2,220 | $2,560 | +$80 (+5.0%) | 29% above |
| 38122 | $1,040 | $1,130 | $1,240 | $1,640 | $1,890 | no change | 5% below |
| 38124 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38125 | $1,340 | $1,460 | $1,590 | $2,100 | $2,420 | +$40 (+2.6%) | 22% above |
| 38126 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% below |
| 38127 | $990 | $1,080 | $1,180 | $1,560 | $1,800 | −$10 (−0.8%) | 9% below |
| 38128 | $1,140 | $1,240 | $1,350 | $1,780 | $2,060 | no change | 4% above |
| 38130 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38131 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38132 | $990 | $1,070 | $1,180 | $1,550 | $1,790 | −$20 (−1.7%) | 9% below |
| 38133 | $1,340 | $1,460 | $1,590 | $2,100 | $2,420 | no change | 22% above |
| 38134 | $1,070 | $1,160 | $1,270 | $1,680 | $1,930 | no change | 2% below |
| 38135 | $1,540 | $1,670 | $1,830 | $2,420 | $2,790 | +$10 (+0.5%) | 41% above |
| 38137 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38138 | $1,570 | $1,710 | $1,870 | $2,470 | $2,850 | +$20 (+1.1%) | 44% above |
| 38139 | $1,640 | $1,780 | $1,950 | $2,570 | $2,970 | +$40 (+2.1%) | 50% above |
| 38141 | $1,320 | $1,440 | $1,570 | $2,070 | $2,390 | +$30 (+1.9%) | 21% above |
| 38152 | $1,040 | $1,130 | $1,240 | $1,640 | $1,890 | no change | 5% below |
| 38157 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38166 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38167 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38168 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38173 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38174 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38175 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38177 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38181 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38182 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38183 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38184 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38186 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38187 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38188 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38190 | $1,090 | $1,190 | $1,300 | $1,720 | $1,980 | +$20 (+1.6%) | about the same as |
| 38611 | $1,040 | $1,070 | $1,340 | $1,640 | $2,200 | +$10 (+0.8%) | 3% above |
| 38618 | $890 | $900 | $1,170 | $1,410 | $1,540 | +$40 (+3.5%) | 10% below |
| 38632 | $1,120 | $1,220 | $1,330 | $1,760 | $2,020 | +$40 (+3.1%) | 2% above |
| 38637 | $1,240 | $1,350 | $1,470 | $1,940 | $2,240 | +$70 (+5.0%) | 13% above |
| 38641 | $990 | $1,070 | $1,190 | $1,540 | $1,770 | +$40 (+3.5%) | 9% below |
| 38651 | $1,040 | $1,140 | $1,270 | $1,680 | $1,960 | −$140 (−9.9%) | 2% below |
| 38654 | $1,510 | $1,640 | $1,790 | $2,360 | $2,730 | +$100 (+5.9%) | 38% above |
| 38671 | $1,220 | $1,330 | $1,450 | $1,910 | $2,210 | +$50 (+3.6%) | 11% above |
| 38672 | $1,640 | $1,780 | $1,950 | $2,570 | $2,970 | +$40 (+2.1%) | 50% above |
| 38680 | $1,110 | $1,210 | $1,320 | $1,740 | $2,010 | +$80 (+6.5%) | 1% above |
| 72301 | $860 | $930 | $1,020 | $1,350 | $1,550 | −$40 (−3.8%) | 22% below |
| 72325 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% below |
| 72327 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% below |
| 72331 | $830 | $910 | $1,000 | $1,310 | $1,520 | −$60 (−5.7%) | 23% below |
| 72332 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% below |
| 72338 | $770 | $850 | $1,000 | $1,290 | $1,460 | −$60 (−5.7%) | 23% below |
| 72339 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% below |
| 72346 | $810 | $880 | $1,000 | $1,290 | $1,490 | −$60 (−5.7%) | 23% below |
| 72348 | $770 | $850 | $1,000 | $1,260 | $1,460 | −$60 (−5.7%) | 23% below |
| 72364 | $960 | $1,040 | $1,140 | $1,500 | $1,740 | +$20 (+1.8%) | 12% below |
| 72376 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% below |
| 72384 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% below |
| 72386 | $760 | $850 | $1,000 | $1,300 | $1,460 | −$60 (−5.7%) | 23% below |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.