Rent by ZIP · Shelby County
Rent in Memphis, TN 38112
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,050 (-2.8% vs FY2026). Renters in this ZIP code pay a median $985 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $880 | $890 | -1.1% | $792–968 | – |
| 1 bedroom | $960 | $970 | -1% | $864–1,056 | $914 ±$269 |
| 2 bedrooms | $1,050 | $1,080 | -2.8% | $945–1,155 | $986 ±$69 |
| 3 bedrooms | $1,390 | $1,430 | -2.8% | $1,251–1,529 | $986 ±$143 |
| 4 bedrooms | $1,600 | $1,670 | -4.2% | $1,440–1,760 | $1,250 ±$189 |
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 38112
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 |
|---|---|---|---|
| 38111 | Memphis | $1,240 | $1,106 |
| 38114 | Memphis | $1,070 | $882 |
| 38109 | Memphis | $1,080 | $840 |
| 38115 | Memphis | $1,360 | $1,162 |
| 38108 | Memphis | $1,010 | $834 |
| 38116 | Memphis | $1,250 | $1,063 |
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.