Tennessee · FIPS 47047 · HUD FY 2027
Fayette County, Tennessee Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Fayette County is $1,301 a month (rent plus utilities), 6% below the Tennessee average of $1,381 and 26% below the U.S. average of $1,761. That is up $27 (2.1%) from FY 2026. At 30% of income, a household needs about $52,040 a year to afford it.
- $1,3012-bedroom FMR+$27 (+2.1%) vs FY 2026
- $1,1911-bedroom FMRTennessee: $1,196 · U.S.: $1,478
- $52,040Income for a 2-bedroom$25/hour full-time
- 23 of 952BR rank in Tennessee1 = highest rent
| Unit | Fayette County 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 |
How Fayette County compares
- HUD sets this rent for the Memphis, TN-MS-AR metro FMR area, which covers 1,262,560 residents in 5 counties.
- Across Tennessee, 2-bedroom FMRs run from $995 (Weakley County) to $1,798 (Cannon County).
- Studio to 4-bedroom: $1,095, $1,191, $1,301, $1,717, $1,981. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 9 ZIP codes mostly in Fayette County (by land area), the 2-bedroom figure ranges from $1,000 to $1,790.
Small Area FMRs by ZIP code in Fayette County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 38028 | $1,190 | $1,290 | $1,410 | $1,860 | $2,150 | −$20 (−1.4%) | 8% above |
| 38036 | $1,500 | $1,620 | $1,780 | $2,350 | $2,700 | no change | 37% above |
| 38046 | $810 | $870 | $1,000 | $1,320 | $1,460 | −$60 (−5.7%) | 23% below |
| 38049 | $960 | $1,040 | $1,140 | $1,500 | $1,740 | +$70 (+6.5%) | 12% below |
| 38057 | $840 | $910 | $1,000 | $1,310 | $1,510 | −$60 (−5.7%) | 23% 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 |
| 38076 | $950 | $1,030 | $1,130 | $1,490 | $1,720 | +$50 (+4.6%) | 13% 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).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
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.