Rent by ZIP · Shelby County
Rent in Memphis, TN 38132
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,180 (-1.7% vs FY2026).
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $990 | $1,000 | -1% | $891–1,089 | – |
| 1 bedroom | $1,070 | $1,080 | -0.9% | $963–1,177 | – |
| 2 bedrooms | $1,180 | $1,200 | -1.7% | $1,062–1,298 | – |
| 3 bedrooms | $1,550 | $1,580 | -1.9% | $1,395–1,705 | – |
| 4 bedrooms | $1,790 | $1,840 | -2.7% | $1,611–1,969 | – |
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 |
|---|---|---|---|
| 38133 | Memphis | $1,590 | $1,196 |
| 38134 | Memphis | $1,270 | $1,169 |
| 38135 | Memphis | $1,830 | $1,336 |
| 38128 | Memphis | $1,350 | $1,109 |
| 38127 | Memphis | $1,180 | $1,020 |
| 38126 | Memphis | $1,000 | $788 |
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.