Rent by ZIP · Shelby County
Rent in Memphis, TN 38103
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,750 (-8.4% vs FY2026). Renters in this ZIP code pay a median $1,661 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,470 | $1,590 | -7.5% | $1,323–1,617 | $1,396 ±$109 |
| 1 bedroom | $1,600 | $1,730 | -7.5% | $1,440–1,760 | $1,586 ±$75 |
| 2 bedrooms | $1,750 | $1,910 | -8.4% | $1,575–1,925 | $1,924 ±$164 |
| 3 bedrooms | $2,310 | $2,520 | -8.3% | $2,079–2,541 | $3,046 ±$834 |
| 4 bedrooms | $2,660 | $2,940 | -9.5% | $2,394–2,926 | $3,096 ±$2,174 |
Small Area FMRs for the Memphis, TN-MS-AR HUD Metro FMR Area. Fair Market Rents include utilities. The voucher range is the typical 90–110% band; your housing authority sets the actual payment standard.
Area-wide FMR for Memphis, TN-MS-AR HUD Metro FMR Area, 2 bedrooms: $1,301.
What renters pay in 38103
How rents are spread
Share of renter households paying cash rent, by monthly gross rent (rent plus utilities).
Nearby ZIP codes
| ZIP | Place | 2-bedroom FMR | Census median, 2 bedrooms |
|---|---|---|---|
| 38104 | Memphis | $1,450 | $1,246 |
| 38105 | Memphis | $1,090 | $1,252 |
| 38106 | Memphis | $1,080 | $873 |
| 38107 | Memphis | $1,120 | $1,059 |
| 38108 | Memphis | $1,010 | $834 |
| 38109 | Memphis | $1,080 | $840 |
Fair Market Rents across Shelby County, TN · All TN counties · What is Fair Market Rent?
Sources: HUD Small Area and county Fair Market Rents, FY2027 (effective October 1, 2026); U.S. Census Bureau, 2020–2024 ACS 5-year estimates. Census figures are survey estimates (±90% margin of error) and trail today's market. Place name from GeoNames. About the data.