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Section 8 Fair Market Rent in Memphis, TN-AR-MS (FY2027)
HUD's official FY2027 Fair Market Rents for the Memphis, TN-MS-AR HUD Metro FMR Area, by bedroom count. These figures set the baseline for what the Housing Choice Voucher program pays landlords in this area.
| Unit size | FY2027 FMR | Payment standard range (90–110%) |
|---|---|---|
| Studio / efficiency | $1,095 | $986 – $1,205 |
| 1 bedroom | $1,191 | $1,072 – $1,310 |
| 2 bedrooms | $1,301 | $1,171 – $1,431 |
| 3 bedrooms | $1,717 | $1,545 – $1,889 |
| 4 bedrooms | $1,981 | $1,783 – $2,179 |
Source: HUD User — FY 2027 Fair Market Rents. FY2027 FMRs are effective October 1, 2026. FY2027 FMRs take effect October 1, 2026; until that date, the prior FY2026 schedule remains in effect. Retrieved 2026-09-07.
How this market compares
The 2-bedroom FMR here is $1,301 — 31% above the Tennessee median of $995 across all 72 FMR areas in the state.
Counties and towns covered
The Memphis, TN-AR-MS FMR area is a metro area covering: Crittenden County, DeSoto County, Fayette County, Shelby County, Tipton County. One FMR applies across the whole area — HUD does not publish separate figures per city or ZIP here (some large metros have Small Area FMRs by ZIP; check with the local housing authority).
What a landlord actually collects
FMR is the baseline, not the contract rent. The local housing authority sets a payment standard between 90% and 110% of FMR (the range in the table above), and your unit must pass a rent-reasonableness comparison against similar unassisted rentals nearby. The voucher then covers the gap between the tenant's share (roughly 30% of their income) and the approved rent.
Run the numbers for a deal in Memphis: Section 8 vs market rent, DSCR, or cash-on-cash return.
Comparable Tennessee markets by 2BR FMR
| FMR area | 1 BR | 2 BR | 3 BR |
|---|---|---|---|
| Clarksville | $1,068 | $1,307 | $1,786 |
| Cleveland | $971 | $1,270 | $1,593 |
| Chattanooga | $1,231 | $1,340 | $1,657 |
| Jackson | $1,051 | $1,375 | $1,730 |
| Sevier County | $1,038 | $1,213 | $1,569 |
| Johnson City | $948 | $1,211 | $1,461 |
Informational only — not financial, legal, or lending advice. Confirm current payment standards with the housing authority serving Memphis.