Rent by ZIP · Shelby County
Rent in Memphis, TN 38109
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,080 (0% vs FY2026). Renters in this ZIP code pay a median $1,040 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $910 | $900 | +1.1% | $819–1,001 | $383 ±$147 |
| 1 bedroom | $990 | $980 | +1% | $891–1,089 | $582 ±$262 |
| 2 bedrooms | $1,080 | $1,080 | 0% | $972–1,188 | $840 ±$100 |
| 3 bedrooms | $1,430 | $1,430 | 0% | $1,287–1,573 | $1,115 ±$52 |
| 4 bedrooms | $1,640 | $1,660 | -1.2% | $1,476–1,804 | $1,360 ±$135 |
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 38109
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 |
|---|---|---|---|
| 38108 | Memphis | $1,010 | $834 |
| 38107 | Memphis | $1,120 | $1,059 |
| 38111 | Memphis | $1,240 | $1,106 |
| 38106 | Memphis | $1,080 | $873 |
| 38112 | Memphis | $1,050 | $986 |
| 38105 | Memphis | $1,090 | $1,252 |
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.