Section 8 rents
in memphis.
HUD Fair Market Rents for every one of the 88 ZIP codes in the Memphis area (FY2026). The median 2-bedroom runs $1,280/mo and the median 3-bedroom $1,690/mo — with 3-bedroom rents spanning $1,390 to $2,520/mo depending on the ZIP. This is part of Tennessee Section 8 rents.
FMR by bedroom.
| bedrooms | median FMR / mo |
|---|---|
| studio / 0 BR | $1,070 |
| 1 BR | $1,160 |
| 2 BR | $1,280 |
| 3 BR | $1,690 |
| 4 BR | $1,970 |
3-bedroom FMR ranges from $1,390 to $2,520/mo across Memphis's 88 ZIP codes — Small Area FMRs vary widely within a single metro.
FMR by ZIP code.
All 88 ZIPs, sorted.
| ZIP | 2 BR | 3 BR |
|---|---|---|
| 38002 | $1,870 | $2,470 |
| 38004 | $1,470 | $1,940 |
| 38011 | $1,130 | $1,490 |
| 38015 | $1,060 | $1,390 |
| 38016 | $1,570 | $2,070 |
| 38017 | $1,650 | $2,180 |
| 38018 | $1,730 | $2,280 |
| 38019 | $1,060 | $1,390 |
| 38023 | $1,300 | $1,720 |
| 38027 | $1,280 | $1,690 |
| 38028 | $1,430 | $1,880 |
| 38029 | $1,850 | $2,440 |
| 38036 | $1,780 | $2,350 |
| 38046 | $1,060 | $1,390 |
| 38048 | $1,060 | $1,390 |
| 38053 | $1,260 | $1,660 |
| 38054 | $1,260 | $1,660 |
| 38055 | $1,280 | $1,690 |
| 38057 | $1,060 | $1,390 |
| 38058 | $1,220 | $1,600 |
| 38060 | $1,510 | $1,980 |
| 38066 | $1,060 | $1,390 |
| 38076 | $1,080 | $1,430 |
| 38083 | $1,280 | $1,690 |
| 38088 | $1,280 | $1,690 |
| 38101 | $1,280 | $1,690 |
| 38103 | $1,910 | $2,520 |
| 38104 | $1,470 | $1,940 |
| 38105 | $1,060 | $1,400 |
| 38106 | $1,150 | $1,520 |
| 38107 | $1,080 | $1,430 |
| 38108 | $1,060 | $1,390 |
| 38109 | $1,080 | $1,430 |
| 38111 | $1,240 | $1,640 |
| 38112 | $1,080 | $1,430 |
| 38113 | $1,280 | $1,690 |
| 38114 | $1,090 | $1,440 |
| 38115 | $1,360 | $1,800 |
| 38116 | $1,250 | $1,650 |
| 38117 | $1,470 | $1,940 |
| 38118 | $1,230 | $1,620 |
| 38119 | $1,450 | $1,920 |
| 38120 | $1,600 | $2,110 |
| 38122 | $1,240 | $1,640 |
| 38124 | $1,280 | $1,690 |
| 38125 | $1,550 | $2,050 |
| 38126 | $1,060 | $1,390 |
| 38127 | $1,190 | $1,570 |
| 38128 | $1,350 | $1,780 |
| 38130 | $1,280 | $1,690 |
| 38131 | $1,280 | $1,690 |
| 38132 | $1,200 | $1,580 |
| 38133 | $1,590 | $2,100 |
| 38134 | $1,270 | $1,680 |
| 38135 | $1,820 | $2,400 |
| 38137 | $1,280 | $1,690 |
| 38138 | $1,850 | $2,440 |
| 38139 | $1,910 | $2,520 |
| 38141 | $1,540 | $2,030 |
| 38152 | $1,240 | $1,640 |
| 38157 | $1,280 | $1,690 |
| 38166 | $1,280 | $1,690 |
| 38167 | $1,280 | $1,690 |
| 38168 | $1,280 | $1,690 |
| 38173 | $1,280 | $1,690 |
| 38174 | $1,280 | $1,690 |
| 38175 | $1,280 | $1,690 |
| 38177 | $1,280 | $1,690 |
| 38181 | $1,280 | $1,690 |
| 38182 | $1,280 | $1,690 |
| 38183 | $1,280 | $1,690 |
| 38184 | $1,280 | $1,690 |
| 38186 | $1,280 | $1,690 |
| 38187 | $1,280 | $1,690 |
| 38188 | $1,280 | $1,690 |
| 38190 | $1,280 | $1,690 |
| 38637 | $1,400 | $1,850 |
| 38651 | $1,410 | $1,860 |
| 38671 | $1,400 | $1,850 |
| 38672 | $1,910 | $2,520 |
| 38680 | $1,240 | $1,640 |
| 72301 | $1,060 | $1,390 |
| 72325 | $1,060 | $1,390 |
| 72327 | $1,060 | $1,390 |
| 72332 | $1,060 | $1,390 |
| 72339 | $1,060 | $1,390 |
| 72364 | $1,120 | $1,480 |
| 72384 | $1,060 | $1,390 |
SAFMR = ZIP-level variation. HUD sets Small Area Fair Market Rents by ZIP in this metro, so two homes in the same city can carry very different voucher ceilings.
The DSCR math at memphis's median rent.
At the median 3-bedroom Section 8 rent of $1,690/mo, the maximum PITIA that still clears a 1.20 DSCR is $1,408/mo. Assuming ~25% of that payment goes to property taxes and insurance, the maximum principal & interest is $1,056/mo — which supports roughly a $159,000 loan at 7% over 30 years, or about a $212,000 purchase at 75% LTV.
Assumptions: 1.20 DSCR floor, ~25% of PITIA for taxes + insurance, 7.0% 30-year fixed, 75% LTV. Your taxes, insurance, rate, and LTV will differ — run your exact numbers in the DSCR calculator.
Memphis Section 8, answered.
FMR on every memphis listing.
Verleon AI overlays HUD Fair Market Rents on every active listing in Memphis — and all 50 states — so you see the Section 8 ceiling and DSCR before you make an offer. Back to Tennessee Section 8 rents or the all-states hub.
Data source: HUD FY2026 Fair Market Rents (Small Area FMRs where published), snapshot 2026-07-24. Payment standards vary by public housing authority (typically 90–110% of FMR). Figures are for research and do not guarantee approved rent on any specific unit.