FY2026 Fair Market Rents — Memphis, TN-MS-AR HUD Metro FMR Area

The HUD-published Fair Market Rents for FY2026 in this area are:

Studio
$1,060
1BR
$1,154
2BR
$1,274
3BR
$1,683
4BR
$1,959
Hours/week at min wage
90 hrs
to afford the 2BR FMR @ $11.00/hr (AR)
YoY change (2BR)
-6%
$81 vs FY2025 · 5-yr +39.8%
Voucher payment standard
$1,147–$1,401
PHAs set HCV payment at 90–110% of the 2BR FMR

Memphis, TN-MS-AR HUD Metro FMR Area

Non-Metropolitan area · AR · View full history · Income limits · LIHTC rents

FY2026 Fair Market Rents

Bedroom Size Monthly FMR Annual Equivalent
Efficiency (Studio) $1,060 $12,720
1-Bedroom $1,154 $13,848
2-Bedroom $1,274 $15,288
3-Bedroom $1,683 $20,196
4-Bedroom $1,959 $23,508

Recent 2-Bedroom FMR Trend

FY2020 $884 → FY2026 $1,274
Fiscal Year Studio 1BR 2BR 3BR 4BR
FY2026 $1,060 $1,154 $1,274 $1,683 $1,959
FY2025 $1,105 $1,207 $1,355 $1,781 $2,086
FY2024 $1,031 $1,146 $1,298 $1,711 $1,995
FY2023 $800 $902 $1,032 $1,365 $1,584
FY2022 $694 $792 $912 $1,219 $1,404
FY2021 $686 $784 $911 $1,228 $1,412
FY2020 $665 $755 $884 $1,203 $1,374

View full FMR history back to FY2000 →

FY2026 Income Limits

Area Median Income (AMI): $92,700

AMI Level 1p 2p 3p 4p 5p 6p
30% AMI (Extremely Low) $19,500 $22,250 $27,320 $33,000 $38,680 $44,360
50% AMI (Very Low) $32,450 $37,100 $41,750 $46,350 $50,100 $53,800
80% AMI (Low) $51,950 $59,350 $66,750 $74,150 $80,100 $86,050

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR
$15,288/yr
FMR as % of Area Median Income
16.5% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$50,960/yr
$4,247/mo gross income

FY2026 LIHTC Maximum Rents

Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →

AMI Band Studio 1BR 2BR 3BR 4BR
50% AMI Maximum $811 $927 $1,042 $1,251 $1,344
60% AMI Maximum $973 $1,112 $1,251 $1,501 $1,612

FY2026 HOME Program Rent Limits

Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →

Limit Type Studio 1BR 2BR 3BR 4BR
High HOME Rent $1,060 $1,154 $1,274 $1,506 $1,506
Low HOME Rent $811 $927 $1,043 $1,158 $1,252

Small Area FMRs by ZIP Code

This metro publishes ZIP-level Small Area Fair Market Rents. Metro-wide 2BR FMR: $1,274. About SAFMRs →

Highest-cost ZIPs (2BR SAFMR)

38103 $1,910
38139 $1,910
38672 $1,910
38002 $1,870
38029 $1,850

Lowest-cost ZIPs (2BR SAFMR)

38015 $1,060
38019 $1,060
38039 $1,060
38046 $1,060
38048 $1,060
All 105 ZIP codes in this area
38002 38004 38011 38015 38016 38017 38018 38019 38023 38027 38028 38029 38036 38039 38042 38046 38048 38049 38053 38054 38055 38057 38058 38060 38066 38068 38069 38075 38076 38083 38088 38101 38103 38104 38105 38106 38107 38108 38109 38111 38112 38113 38114 38115 38116 38117 38118 38119 38120 38122 38124 38125 38126 38127 38128 38130 38131 38132 38133 38134 38135 38137 38138 38139 38141 38152 38157 38166 38167 38168 38173 38174 38175 38177 38181 38182 38183 38184 38186 38187 38188 38190 38611 38618 38632 38637 38641 38651 38654 38671 38672 38680 72301 72325 72327 72331 72332 72338 72339 72346 72348 72364 72376 72384 72386

Compare Memphis, TN-MS-AR HUD Metro FMR Area With Other AR Metros

vs. Fayetteville-Springdale-Rogers, AR HUD Metro FMR Area vs. Fort Smith, AR-OK HUD Metro FMR Area vs. Franklin County, AR HUD Metro FMR Area vs. Grant County, AR HUD Metro FMR Area vs. Hot Springs, AR MSA

Counties in This FMR Area

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