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Memphis, TN-MS-AR: 2-bedroom payment standards across 88 ZIP codes

HUD's FY2026 Small Area Fair Market Rents for Memphis, TN-MS-AR HUD Metro FMR Area range from $1,060 to $1,910 for a 2-bedroom. The 90th-percentile ZIP code runs 1.58× the 10th — a gap of $614 a month — which ranks 33th widest of the 247 HUD metro areas we compare.

HUD requires ZIP-level payment standards here. Memphis, TN-MS-AR is one of the 65 designated Small Area FMR areas, so housing authorities in this area set payment standards from each ZIP code's own SAFMR rather than one area-wide figure. The spread below is policy, not a gap — though your PHA still chooses a figure within 90–110% of each ZIP's SAFMR, and may group ZIP codes together.
$1,280

median 2-bedroom SAFMR across the area's 88 ZIP codes. Each ZIP code carries its own standard here; your PHA sets a figure within 90–110% of that ZIP's SAFMR.

$614

monthly gap between the 90th- and 10th-percentile ZIP code ($1,060 to $1,674).

25.0%

of the area's ZIP codes (22 of 88) sit above $1,408 — 110% of the area median. Because ZIP-level standards are required here, that is a measure of the area's rent spread, not of ZIP codes left behind by a ceiling.

Highest-rent ZIP codes in Memphis, TN-MS-AR

38103$1,91038139$1,91038672$1,91038002$1,87038029$1,85038138$1,85038135$1,82038036$1,78038018$1,73038017$1,65038120$1,60038133$1,59038016$1,57038125$1,55038141$1,54038060$1,51038004$1,47038104$1,47038117$1,47038119$1,45038028$1,43038651$1,41038637$1,40038671$1,40038115$1,360area median $1,280
2 BR Small Area FMR area median across all 88 ZIPs

Every ZIP code, ranked

The payment-standard column is HUD's published 90–110% band for that ZIP code — the range a housing authority may adopt without HUD approval. Your PHA sets the exact figure. The final column compares each ZIP to the area median; ZIP codes marked above 110% exceed 110% of that median, which here simply marks the top of the area's rent range — ZIP-level standards are required in this area, so no ZIP is capped by an area-wide figure.

Showing 88 of 88 ZIP codes
# ZIP code 2 BR SAFMR ▾ Payment standard (90–110%) vs area median
138103$1,910$1,719–$2,101above 110%
238139$1,910$1,719–$2,101above 110%
338672$1,910$1,719–$2,101above 110%
438002$1,870$1,683–$2,057above 110%
538029$1,850$1,665–$2,035above 110%
638138$1,850$1,665–$2,035above 110%
738135$1,820$1,638–$2,002above 110%
838036$1,780$1,602–$1,958above 110%
938018$1,730$1,557–$1,903above 110%
1038017$1,650$1,485–$1,815above 110%
1138120$1,600$1,440–$1,760above 110%
1238133$1,590$1,431–$1,749above 110%
1338016$1,570$1,413–$1,727above 110%
1438125$1,550$1,395–$1,705above 110%
1538141$1,540$1,386–$1,694above 110%
1638060$1,510$1,359–$1,661above 110%
1738004$1,470$1,323–$1,617above 110%
1838104$1,470$1,323–$1,617above 110%
1938117$1,470$1,323–$1,617above 110%
2038119$1,450$1,305–$1,595above 110%
2138028$1,430$1,287–$1,573above 110%
2238651$1,410$1,269–$1,551above 110%
2338637$1,400$1,260–$1,540109%
2438671$1,400$1,260–$1,540109%
2538115$1,360$1,224–$1,496106%
2638128$1,350$1,215–$1,485105%
2738023$1,300$1,170–$1,430102%
2838027$1,280$1,152–$1,408100%
2938055$1,280$1,152–$1,408100%
3038083$1,280$1,152–$1,408100%
3138088$1,280$1,152–$1,408100%
3238101$1,280$1,152–$1,408100%
3338113$1,280$1,152–$1,408100%
3438124$1,280$1,152–$1,408100%
3538130$1,280$1,152–$1,408100%
3638131$1,280$1,152–$1,408100%
3738137$1,280$1,152–$1,408100%
3838157$1,280$1,152–$1,408100%
3938166$1,280$1,152–$1,408100%
4038167$1,280$1,152–$1,408100%
4138168$1,280$1,152–$1,408100%
4238173$1,280$1,152–$1,408100%
4338174$1,280$1,152–$1,408100%
4438175$1,280$1,152–$1,408100%
4538177$1,280$1,152–$1,408100%
4638181$1,280$1,152–$1,408100%
4738182$1,280$1,152–$1,408100%
4838183$1,280$1,152–$1,408100%
4938184$1,280$1,152–$1,408100%
5038186$1,280$1,152–$1,408100%
5138187$1,280$1,152–$1,408100%
5238188$1,280$1,152–$1,408100%
5338190$1,280$1,152–$1,408100%
5438134$1,270$1,143–$1,39799%
5538053$1,260$1,134–$1,38698%
5638054$1,260$1,134–$1,38698%
5738116$1,250$1,125–$1,37598%
5838111$1,240$1,116–$1,36497%
5938122$1,240$1,116–$1,36497%
6038152$1,240$1,116–$1,36497%
6138680$1,240$1,116–$1,36497%
6238118$1,230$1,107–$1,35396%
6338058$1,220$1,098–$1,34295%
6438132$1,200$1,080–$1,32094%
6538127$1,190$1,071–$1,30993%
6638106$1,150$1,035–$1,26590%
6738011$1,130$1,017–$1,24388%
6872364$1,120$1,008–$1,23288%
6938114$1,090$981–$1,19985%
7038076$1,080$972–$1,18884%
7138107$1,080$972–$1,18884%
7238109$1,080$972–$1,18884%
7338112$1,080$972–$1,18884%
7438015$1,060$954–$1,16683%
7538019$1,060$954–$1,16683%
7638046$1,060$954–$1,16683%
7738048$1,060$954–$1,16683%
7838057$1,060$954–$1,16683%
7938066$1,060$954–$1,16683%
8038105$1,060$954–$1,16683%
8138108$1,060$954–$1,16683%
8238126$1,060$954–$1,16683%
8372301$1,060$954–$1,16683%
8472325$1,060$954–$1,16683%
8572327$1,060$954–$1,16683%
8672332$1,060$954–$1,16683%
8772339$1,060$954–$1,16683%
8872384$1,060$954–$1,16683%
Heads up: The figure above is the HUD Fair Market Rent. Your local Public Housing Authority (PHA) sets the actual payment standard — usually between 90% and 110% of it — so confirm your exact amount with the PHA that issued the voucher.

How Memphis, TN-MS-AR compares

Its internal spread of 1.58× (p90 ÷ p10) ranks 33 of 247 HUD metro FMR areas, against a median of 1.37× and a national high of 1.77×. On the steadier p75 ÷ p25 measure it is 1.22×. Note that this area's 90th or 10th percentile lands exactly on its highest or lowest ZIP code, so a single ZIP is carrying the p90/p10 figure — the p75/p25 measure is the better read here. See the full ranking and how it was measured →

A note on what this does not mean: a higher payment standard does not increase the assistance a household receives. It raises the ceiling on the rent a voucher can cover, while the household still pays roughly 30% of adjusted income. Figures are ZIP-weighted, not renter-weighted, and rest on 2019–2023 American Community Survey data trended forward.

This page shows official HUD Fair Market Rent data for general educational use — it is not legal, financial, or housing advice, and is not a guarantee of any voucher amount. Your local Public Housing Authority sets the actual payment standard and approves rents. Always confirm with your PHA and the official HUD FMR data.

Check a rent against a ZIP code → All 247 metro areas →