RentData.org

RentData.org Logo Memphis Fair Market Rent FY 2023 Memphis, TN-MS-AR HUD Metro FMR Area Rental Data

Fair Market Rent Prices in Memphis, AR :
$800 $902 $1,032 $1,365 $1,584
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Memphis are high compared to the national average. This FMR area is more expensive than 83% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Memphis is $1,032 per month.

The previous year, rent for a two-bedroom home was $912 per month. This is a 13.16% increase year-over-year.

This FMR rate applies to Clarkedale, AR, Edmondson, AR, Gilmore, AR, Turrell, AR, Crawfordsville, AR, Tyronza, AR, Proctor, AR, Hughes, AR, Earle, AR, Marion, AR and other cities within the region. The Metro Code or CBSA code for this region is METRO32820M32820.

Additionally, This Fair Market Rent (FMR) area Memphis, TN-MS-AR HUD Metro FMR Area spans one county or city in Arkansas which is listed in the table below. Estimated population of Memphis, TN-MS-AR HUD Metro FMR Area FMR area is 48,381 people based on latest Census data.

Compared to the rest of Arkansas, the Memphis FMR area is more expensive than 100% of the state.

Arkansas Rents Map

Click on the map to view more another region.

See Nationwide Map

What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Memphis. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Memphis

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 853
1-BR 1-Bedroom $ 962
2-BR 2-Bedroom $ 1100
3-BR 3-Bedroom $ 1455
4-BR 4-Bedroom $ 1689
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Memphis, TN-MS-AR HUD Metro FMR Area FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Memphis.

County / Region Est. Population
Memphis, AR Metro 48,381
Zip Codes in Memphis, TN-MS-AR HUD Metro FMR Area

There are 11 unique zip codes in this Fair Market Rent (FMR) area:

72301, 72325, 72327, 72331, 72332, 72339, 72348, 72364, 72376, 72384 and 72386

Lookup Fair Market Rent by Zip Code

What's Next?

Here are some additional resources you may also be interested in:

Top