Rent by ZIP · Shelby County
Rent in Memphis, TN 38107
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,120 (+3.7% vs FY2026). Renters in this ZIP code pay a median $1,073 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $940 | $900 | +4.4% | $846–1,034 | $858 ±$263 |
| 1 bedroom | $1,020 | $980 | +4.1% | $918–1,122 | $882 ±$164 |
| 2 bedrooms | $1,120 | $1,080 | +3.7% | $1,008–1,232 | $1,059 ±$69 |
| 3 bedrooms | $1,480 | $1,430 | +3.5% | $1,332–1,628 | $1,212 ±$279 |
| 4 bedrooms | $1,700 | $1,660 | +2.4% | $1,530–1,870 | $1,603 ±$327 |
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 38107
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 |
|---|---|---|---|
| 38106 | Memphis | $1,080 | $873 |
| 38108 | Memphis | $1,010 | $834 |
| 38105 | Memphis | $1,090 | $1,252 |
| 38109 | Memphis | $1,080 | $840 |
| 38104 | Memphis | $1,450 | $1,246 |
| 38103 | Memphis | $1,750 | $1,924 |
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.