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
136 hrs
to afford the 2BR FMR @ $7.25/hr (federal)
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 · MS · 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

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

vs. Benton County, MS HUD Metro FMR Area vs. Covington County, MS HUD Metro FMR Area vs. Gulfport-Biloxi, MS HUD Metro FMR Area vs. Hattiesburg, MS MSA vs. Holmes County, MS HUD Metro FMR Area

Counties in This FMR Area

Related Pages