Rent by ZIP ·
Rent in Memphis, TN 38124
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,300 (+1.6% vs FY2026).
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,090 | $1,070 | +1.9% | $981–1,199 | – |
| 1 bedroom | $1,190 | $1,160 | +2.6% | $1,071–1,309 | – |
| 2 bedrooms | $1,300 | $1,280 | +1.6% | $1,170–1,430 | – |
| 3 bedrooms | $1,720 | $1,690 | +1.8% | $1,548–1,892 | – |
| 4 bedrooms | $1,980 | $1,970 | +0.5% | $1,782–2,178 | – |
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.
The Census doesn't publish reliable rent figures for this ZIP code, usually because few homes here are rented.
Nearby ZIP codes
| ZIP | Place | 2-bedroom FMR | Census median, 2 bedrooms |
|---|---|---|---|
| 38125 | Memphis | $1,590 | $1,593 |
| 38122 | Memphis | $1,240 | $1,064 |
| 38126 | Memphis | $1,000 | $788 |
| 38127 | Memphis | $1,180 | $1,020 |
| 38120 | Memphis | $1,680 | $1,813 |
| 38128 | Memphis | $1,350 | $1,109 |
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.